IriusRisk’s Expansion Revenue Playbook: How They Achieved 100%+ Growth Through Customer Success

IriusRisk’s Expansion Revenue Playbook: How They Achieved 100%+ Growth Through Customer Success

Triple-digit growth in enterprise software typically conjures images of aggressive sales teams and rapid customer acquisition. Yet IriusRisk’s path to “112% growth, and the year before that…about 104%” tells a different story – one where expansion revenue, not new logos, drives sustainable growth.

In a recent episode of Category Visionaries, IriusRisk CEO Stephen de Vries revealed how prioritizing customer expansion created a more sustainable growth engine than the traditional enterprise sales playbook. Here’s how they did it.

Why Expansion Revenue Matters More

For Stephen, expansion revenue represents a higher quality of growth: “When they expand, they’ve been using it, they’ve been rolling it out, they’ve been seeing value, and then they choose to increase their usage of the product.” This stands in stark contrast to new customers who “maybe see through rose colored glasses” during the initial sales process.

The key difference? Expansion revenue validates that customers are actually achieving value, not just buying into a compelling sales pitch.

Building a Company-Wide Expansion Strategy

What’s particularly noteworthy about IriusRisk’s approach is how it engages every department in driving expansion. As Stephen explains, “When a customer does expand…it’s something that the product team did to build a feature that the customer needed or solve a problem that they had. It’s our customer success team that listened to what they needed and responded to. It’s our support team, it’s our sales team, it’s our marketing team.”

This holistic approach means expansion isn’t just a sales motion – it’s deeply embedded in how every team operates:

• Product teams focus on solving real customer problems
• Customer success actively listens for expansion opportunities
• Support ensures smooth implementation
• Sales and marketing align around existing customer growth

The Market Context

IriusRisk’s expansion strategy benefits from growing regulatory tailwinds. Stephen notes that “the FDA will not license medical devices in the US unless they’re accompanied by a threat model.” This regulatory requirement creates natural expansion opportunities as customers need to secure more devices and applications.

Similarly, the company has expanded its capabilities to match evolving customer needs: “We’ve added a lot of content that’s very kind of device specific…protocols like a Bluetooth and maybe even older technologies like rs two three two ports and rs four eight five and can bus.”

From Services to Product: The Long View

The focus on expansion revenue stems partly from IriusRisk’s origins as a consulting firm. Having “founded the company as a consulting firm, 2008, ran it as a consulting firm, and then 2014 decided to start building a product,” they understood the importance of deep customer relationships.

This background helped them recognize that sustainable growth comes from solving real problems for existing customers, not just acquiring new ones. It’s an approach that requires patience and dedication to customer success, but the results – consistent triple-digit growth – speak for themselves.

For B2B founders, IriusRisk’s story offers a compelling alternative to the typical enterprise growth playbook. Instead of maximizing new logo acquisition, consider how focusing on customer expansion might create more sustainable, predictable growth. The key? Ensure every team understands their role in delivering customer value that drives organic expansion.