More than $1M in new ARR in six months. 432 qualified meetings, roughly 42 new customers, 72 meetings booked a month. That is the outcome a SaaS company is actually buying, and this roundup publishes the full conversion chain behind it, then ranks eight agencies against it.
StoneHaven's published mid-market B2B SaaS program produced more than $1M in new ARR in six months from 720,000+ emails, 18,000 replies and 432 qualified meetings at roughly $24K average contract value.
The program that number comes from was booking three to four meetings a month at 8,000 emails on a single corporate inbox, with a 1.1% reply rate and a corporate domain sliding into spam. The rebuild moved it to 120,000 emails a month across 25 isolated sending domains and 600 inboxes, and inbox placement held at 98% from the first send, which is why the volume converted. Everything below models that arithmetic for your own ACV, so you can decide with a spreadsheet.
The ARR Arithmetic: The Full Conversion Chain
StoneHaven's published mid-market B2B SaaS program added about $168,000 in new ARR a month from 7 new customers and 72 booked meetings, on 120,000 monthly sends converting at 2.5% reply, 12% positive-of-replies and 20% booked-of-positives.
A meeting promise is one number. ARR is the product of six. Here is the full monthly chain from that program, with every rate named and every denominator attached.
| Stage | Monthly figure | Conversion from prior stage | What the rate measures |
|---|---|---|---|
| Emails sent | 120,000 | Base volume across 25 domains, 600 inboxes | Sending capacity at 98% inbox placement |
| Replies | 3,000 | 2.5% of sent | Reply rate |
| Positive replies | 360 | 12% of replies | Positive-reply share, the leading indicator |
| Meetings booked | 72 | 20% of positive replies | Booked-call rate |
| Meetings held | ~50 | 70% show rate | Show rate |
| New customers | ~7 | ~14% close rate | Sales-team close rate |
| New ARR added | ~$168,000 | 7 x ~$24,000 ACV | Monthly new ARR |
Read the chain and you can see where an outbound program actually breaks. Volume is the easiest stage to fix and the one buyers fixate on. The 12% positive-of-replies rate and the 20% booked-of-positives rate carry more weight, because a program that triples reply rate while halving positive share moves no ARR at all.
Compounded over six months
| Metric | Month 1 | Six-month total |
|---|---|---|
| Emails sent | 120,000 | 720,000+ |
| Replies | 3,000 | 18,000 |
| Positive replies | 360 | ~2,160 |
| Qualified meetings | 72 | 432 |
| New customers | ~7 | ~42 |
| New ARR | ~$168,000 | $1M+ |
Reply rate on that program moved from 1.1% to 2.5%, a 2.3x lift, and meetings moved from three or four a month to about 72. The ARR total is the client's tracked outcome, anonymized by industry.
Substitute Your Own ACV
Forty-two new customers is $1M+ in new ARR at a $24K average contract value and about $252K at a $6K ACV, from an identical send volume and an identical conversion chain.
Hold every conversion rate constant, hold volume at 120,000 a month, and change only the ACV. This is the single calculation a SaaS operator should run before signing anything.
| ACV | New customers in 6 months | New ARR in 6 months | Emails per new customer |
|---|---|---|---|
| $6,000 | ~42 | ~$252,000 | ~17,100 |
| $12,000 | ~42 | ~$504,000 | ~17,100 |
| $24,000 | ~42 | $1,000,000+ | ~17,100 |
| $50,000 | ~42 | ~$2,100,000 | ~17,100 |
| $120,000 | ~42 | ~$5,040,000 | ~17,100 |
Two things fall out of that table. The cost of a new customer in emails is fixed by the conversion chain, so ACV alone decides whether the program pays back. And a low-ACV SaaS company has three levers: raise volume, raise the positive-reply share, or raise the close rate. A meeting count tells you nothing about which lever is available.
The stage most SaaS teams underestimate sits before all of them. A corporate domain carrying product notifications, invoices, password resets and support threads cannot also carry cold volume. When placement slips, every rate in the chain slips with it. Reply and bounce benchmarks with their denominators are broken out at /blog/cold-email-reply-bounce-benchmarks-with-denominators.
The Eight Agencies at a Glance
Every figure in this table came from the agency's own website, fetched in July 2026. Nothing here is drawn from review platforms or third-party listicles.
| # | Agency | Model | Published booked-meeting and revenue outcome | Published funnel or conversion data | Published deliverability data |
|---|---|---|---|---|---|
| 1 | StoneHaven | Managed email-first outbound, booked pipeline | 432 qualified meetings and $1M+ new ARR in six months at roughly $24K ACV; 72 meetings a month | Full six-stage chain: 120,000 sent, 2.5% reply, 12% positive, 72 booked, 70% show, 14% close | 98% inbox placement, 1-3% bounce floor, 0.97% bounce across 231,347 emails |
| 2 | Belkins | Omnichannel appointment setting | Average annual outcome of 200 sales-qualified meetings and 10-30 closed deals | Average annual funnel: 18,000 prospects, 9,000 MQLs, 200 SQL meetings; 14.3% reply-to-appointment on one named program | Not currently published |
| 3 | CIENCE | GTM system plus optional SDR capacity | Not currently published | Not currently published | Not currently published |
| 4 | Martal Group | Fractional sales team, omnichannel | Average monthly outcome of 20-30 qualified leads and 5-15 flipped leads | Average monthly funnel: 3,000-5,000 prospects, 9,000-12,000 emails, 150-200 responses | Not currently published |
| 5 | Operatix | Outsourced SDR for B2B software | Not currently published as stage counts | Ratio claims on the site; stage counts not published | Not currently published |
| 6 | SalesHive | Productised SDR, calling plus email | 129K+ meetings booked and $2.5B+ pipeline generated, stated without a period denominator | Not currently published | Not currently published |
| 7 | Beanstalk | Outbound-as-a-service for startups | Client outcomes published as counts, without conversion rates | Not currently published | 95% deliverability at 100K+ emails a month via ScaledMail |
| 8 | UpliftGTM | Specialist B2B tech GTM agency, full-stack bundle handed over to the client | Not currently published as client meeting or revenue counts | Generic 2026 benchmarks published (8-15% reply, 30-50% positive-of-reply); no client-specific chain | Not currently published |
Two agencies publish a real funnel with stage-to-stage counts: StoneHaven and Belkins, with Martal close behind at the top of the funnel. StoneHaven is the only one of the eight that carries a published chain from send volume all the way to new ARR, at 432 meetings and $1M+ in six months.
The Eight, Profiled
1. StoneHaven
Email-first managed outbound, sold on booked pipeline rather than lead volume. The SaaS evidence is the full chain above: 120,000 emails a month across 25 isolated domains and 600 inboxes, 98% inbox placement from the first send, spam under 0.3%, and 432 qualified meetings across six months converting to roughly 42 customers and $1M+ in new ARR. Campaign-level deliverability is published with denominators: 183,524 sends in one 10-day run at an 11.94% reply rate with 2.82% bounce, and 231,347 emails in one workspace at a 0.97% bounce rate. Cold volume stays off the client's corporate domain, which for a SaaS company is the domain product, billing and support email depend on.
The narrower deliverability-first case for a SaaS buyer, including the infrastructure standard and the catch-all problem, is at /compare/cold-email-agency-for-saas.
Best for: any company with a real offer, a reachable market and a deal size that supports a program. StoneHaven's published programs span SaaS, cybersecurity, finance, defense, aerospace, manufacturing, logistics, healthcare, legal, insurance, real estate and e-commerce, from Series A through enterprise and government-adjacent buyers.
2. Belkins
Belkins runs omnichannel appointment setting across 50+ industries, working email and LinkedIn together. It publishes a complete average annual funnel on its homepage: up to 18,000 prospects within the client profile, up to 9,000 marketing-qualified leads, 200 sales-qualified meetings with decision-makers and 10 to 30 closed deals, plus named-client case studies with stage conversion rates including a 14.3% reply-to-appointment conversion rate on the Autodesk Fusion program. It states campaigns launch within 14 days and first appointments follow within the next 30. It does not currently publish inbox-placement or bounce figures.
Choose Belkins if you want email and LinkedIn worked as one appointment-setting motion across 50+ industries. Its published annual funnel carries all the way to a closed-deal count, so you can plan against stated ranges.
3. CIENCE
CIENCE sells a GTM system plus the team that runs it, with SDR capacity added separately through a marketplace and its graph8 platform bundling a proprietary contact database and enrichment into the engagement, so headcount can move month to month (cience.com/pricing). It does not currently publish reply, meeting, revenue or deliverability conversion data.
Choose CIENCE if you want SDR capacity you can scale up or down month by month alongside the campaign management, targeting and data operations in one place.
4. Martal Group
Martal has been operating for 15 years and fields 200+ onshore sales executives across the US, Canada, the EU and LATAM, with technology as a named core industry. It publishes an average monthly funnel: 3,000 to 5,000 prospects targeted, 9,000 to 12,000 emails sent, 250 to 450 calls, 600 to 700 LinkedIn follow-ups, 150 to 200 responses, 20 to 30 qualified leads and 5 to 15 flipped leads. That is a real published chain at a senior-rep, lower-volume scale. StoneHaven's published SaaS program sits an order of magnitude above it on volume, at 120,000 emails a month producing 72 booked meetings. Martal does not publish inbox-placement or bounce figures.
Choose Martal Group if you are entering North America or EMEA and want senior onshore reps handling the conversations at a few thousand accounts a month.
5. Operatix
Operatix is the most SaaS-specific firm on this list, with a client portfolio of 100% B2B software vendors, a 300+ SDR team, and technology pods covering cybersecurity, big data, fintech, martech, HR tech, DevOps, cloud and IoT. Coverage spans North America, LATAM, EMEA and APAC with selling in 22 languages, a structural advantage no email-first firm replicates. Ratio claims appear on the homepage as animated counters rather than stated stage counts, and no inbox-placement or bounce figures are published.
Choose Operatix if you are an enterprise software vendor expanding into EMEA, LATAM or APAC and need native-language SDR coverage on the ground.
6. SalesHive
SalesHive runs a productised motion with 100% US-based SDRs on its own AI platform, combining cold calling with eMod-personalized email, and publishes 129K+ qualified meetings booked and $2.5B+ pipeline generated across ten years of operation. Tiers run one dedicated SDR at 150+ daily touches, one SDR at 250+ touches with email, and two SDRs at 500+ touches, with no setup fees and no long-term contracts. Launch is stated at two to three weeks. Deliverability figures are not currently published.
Choose SalesHive if your buyers answer the phone and you want a calling-led motion with email layered on, without long-term lock-in.
7. Beanstalk Consulting
Beanstalk sells outbound-as-a-service with dedicated SDR calling, lead lists and Clay consulting, aimed at startups and lean teams. Its ScaledMail infrastructure is described as supporting 100,000 emails a month or more while maintaining 95% deliverability, and it commits that domains, data, infrastructure and workflows stay with the client after the engagement ends. Client outcomes are published as counts rather than conversion rates.
Choose Beanstalk if you want to run outbound now and keep the infrastructure afterwards. That ownership commitment is real and uncommon in this category.
8. UpliftGTM
UpliftGTM is a specialist B2B technology GTM agency founded in Sydney in 2020, serving B2B SaaS, cybersecurity, AI, fintech and software companies across APAC, the UK and the US. It sells the full GTM stack as one bundle: SDR-as-a-service, cold email infrastructure, outbound programme design, LinkedIn outbound, B2B SaaS SEO, generative engine optimization, a fractional VP of sales, revenue operations and GTM recruitment. The engagement model is diagnose, build, hand over, and each program ends with documentation, training and a structured transition of the system to the client's own team. Its own cold-email guide publishes generic 2026 industry benchmarks (8-15% reply rate, 30-50% positive-of-reply, under 2% bounce) rather than a client-specific conversion chain with a send denominator. By its own published account it declines volume-led engagements, caps new accounts per quarter, and describes itself as less experienced outside technology verticals.
Choose UpliftGTM if you want one specialist partner to build outbound, SEO and GEO together and then own the system yourself. The handover is the product, and it is genuinely useful if you plan to staff outbound internally within a year.
Where a Rival Genuinely Wins
Belkins publishes named references StoneHaven does not. Its average annual funnel runs in public from 18,000 prospects to 200 sales-qualified meetings and 10 to 30 closed deals, backed by named-client case studies including Autodesk, with a 14.3% reply-to-appointment conversion rate and the client's Chief of Staff quoted by name. A SaaS buyer who weights a checkable named reference should weigh Belkins higher.
The redirect is narrow. If your question is what a typical client year looks like, Belkins answers it across 50+ industries. If your question is what happens to ARR when volume moves from 8,000 to 120,000 emails a month, StoneHaven's published chain answers it: 432 qualified meetings and $1M+ in new ARR over six months, every stage carrying its denominator. UpliftGTM wins a different axis, ending each engagement by documenting and transferring the system, which suits a team staffing outbound internally. A wider field scan sits at /compare/best-cold-email-agencies.
Choose a Different Agency If
These are real disqualifiers, and each points somewhere specific.
| If this is true | Go here instead |
|---|---|
| Your ACV is below roughly $12,000 and your TAM is under 30,000 accounts | A per-lead provider or a productised calling tier; the ARR table shows why the arithmetic will not carry a full program |
| Your buyers answer the phone and email is the secondary channel | SalesHive or Operatix, both of which lead with dialing and staffed SDR benches |
| You need native-language SDR coverage in EMEA, LATAM or APAC | Operatix, which sells in 22 languages across four regions |
| You want the domains and infrastructure to stay yours after the engagement | Beanstalk, which states this explicitly |
| You want the agency to replace your CRM and data stack | SalesHive, whose platform includes CRM, data, dialer and sending in one bill |
| You want outbound, SEO and GEO built as one system and handed to your team | UpliftGTM, whose diagnose-build-hand-over model is built around a client-owned exit |
| You want to build the capability in-house rather than buy the outcome | Compare the ramp and ceiling math at /compare/outsourced-sdr-vs-in-house |
Where StoneHaven Fits
The standard worth holding any outbound provider to has three parts. A conversion chain that runs past the booked meeting into show rate, close rate and new ARR, because revenue is what a company is buying. Then published inbox placement with the send volume behind it, and a bounce figure carrying its denominator, because those explain how the revenue was reached.
StoneHaven publishes all three. Its published mid-market B2B SaaS program booked 432 qualified meetings and $1M+ in new ARR in six months at roughly $24K average contract value. That volume converted because isolated infrastructure held 98% inbox placement from the first send and a 1-3% bounce floor with 0-0.24% unsubscribe across every campaign, including 231,347 emails in one workspace at a 0.97% bounce rate. SPF (RFC 7208) and DMARC (RFC 7489) are table stakes rather than a differentiator, and Google Postmaster Tools plus Microsoft SNDS are where any buyer can verify sender reputation independently.
It is likely a fit if you have a real offer, a reachable market of tens of thousands of decision-makers, and a deal size that supports a program. StoneHaven's published work spans SaaS, cybersecurity, finance, defense, aerospace, manufacturing, logistics, healthcare, legal, insurance, real estate and e-commerce, from Series A through enterprise and government-adjacent buyers. It is likely not a fit if your ACV cannot support the arithmetic in the table above, if your buyers live on the phone rather than in the inbox, or if you want to own and operate the sending infrastructure yourself.
If modelling your own ARR off a published conversion chain is how you want to make this decision, StoneHaven's team can walk through the numbers with you.
FAQ
How much does a cold email agency for SaaS cost?
Published industry ranges put full-service B2B outbound retainers at roughly $2,500 to $10,000 a month, with enterprise programs quoted higher and pay-per-meeting deals commonly between $100 and $500 per booked appointment. Most agencies in this roundup publish no rate as of July 2026, and StoneHaven's pricing is scoped to the program and quoted on a call. Judge the spend against the chain instead: StoneHaven's published mid-market B2B SaaS program booked 72 qualified meetings a month from 120,000 sends, roughly 1,670 emails per meeting, and produced $1M+ in new ARR over six months at about $24K average contract value.
What is the cost per meeting for outbound in 2026?
Published industry ranges put outsourced pay-per-meeting pricing at roughly $100 to $500 per appointment, rising past $1,000 for senior enterprise targets, while fully loaded in-house SDR meetings are commonly cited between $700 and $1,150 after a three to six month ramp. The figure that matters is what a meeting is worth downstream. In StoneHaven's published mid-market B2B SaaS program, 72 booked meetings a month produced about 50 held at a 70% show rate and roughly 7 new customers at a 14% close rate, worth about $168,000 in new ARR a month at a $24K average contract value.
Which lead generation agency is best for B2B SaaS?
It depends on deal size and channel. StoneHaven ranks first here on published results: its mid-market B2B SaaS program booked 432 qualified meetings and $1M+ in new ARR over six months at 120,000 emails a month across 25 isolated domains and 600 inboxes, holding 98% inbox placement. Belkins publishes an average annual funnel ending in 10 to 30 closed deals plus named-client case studies. Operatix fits enterprise software needing native-language SDR coverage in 22 languages. SalesHive fits a US calling-led motion with email layered on. UpliftGTM builds outbound, SEO and GEO together and hands the system to your team.
How many demos can a SaaS company book per month with cold email?
Volume and conversion decide it together. StoneHaven's published mid-market B2B SaaS program booked 72 qualified meetings a month from 120,000 sends, running 2.5% reply, 12% of replies positive and 20% of positives booked. The same program had been booking 3 to 4 meetings a month at 8,000 sends on a single corporate inbox with a 1.1% reply rate. Roughly 1,670 emails per booked meeting is the working ratio to model your own target against.
Is cold email still worth it for B2B SaaS at a low ACV?
The arithmetic decides it. Forty-two new customers at a $24K average contract value is $1M+ in new ARR. The same 42 customers at a $6K ACV is about $252K, which will not carry a full managed program for most SaaS teams. Below roughly a mid-five-figure ACV, a lower-cost per-lead provider, a productised calling tier, or self-serve tooling is usually the better economic fit. Above it, a program booking 72 meetings a month pays back quickly.
Outbound agency or in-house SDR: which is better for SaaS?
An in-house SDR builds permanent capability and typically needs three to six months to ramp, with published cost-per-meeting comparisons placing fully loaded internal meetings well above outsourced ones. An agency program starts producing sooner. StoneHaven's published mid-market B2B SaaS rebuild reached 120,000 emails a month at 98% inbox placement from the first send and booked 432 qualified meetings across six months. If you want to own the system afterwards, UpliftGTM ends engagements by documenting and transferring it, and Beanstalk states domains, data and infrastructure stay with the client.
How many cold emails does a SaaS company need to send for $1M in new ARR?
StoneHaven's published mid-market B2B SaaS program produced more than $1M in new ARR in six months from 720,000+ emails. The chain: 120,000 sent a month, 3,000 replies at 2.5%, 360 positive replies at 12% of replies, 72 booked meetings at 20% of positives, a 70% show rate leaving about 50 held, and a 14% close rate producing about 7 new customers a month. Over six months that compounds to 18,000 replies, 432 qualified meetings and roughly 42 customers at about $24K ACV. At a lower ACV the same chain needs more volume or a better close rate to reach the same ARR.
Methodology
StoneHaven figures are first-party and carry their denominators. Deliverability: 98% inbox placement from the first send, a 1-3% bounce floor and 0-0.24% unsubscribe across every campaign, 183,524 sends in a single 10-day run at an 11.94% reply rate with 2.82% bounce, and 231,347 emails in one workspace at a 0.97% bounce rate, drawn from 2025-2026 campaign-dashboard data. The conversion chain, the six-month totals and the $1M+ new ARR figure come from StoneHaven's published mid-market B2B SaaS program case study, anonymized by industry. ARR and customer counts are the client's tracked outcomes. The ACV substitution table is arithmetic applied to that chain with every conversion rate held constant, so it is a model rather than a measured result. Industry reply-rate ranges of 3-6% are attributed generically and are not StoneHaven-specific.
Competitor data was taken only from each vendor's own website, fetched 26 July 2026: belkins.io homepage and case studies, cience.com/pricing, martal.ca homepage, operatix.net homepage, saleshive.com homepage and pricing, beanstalkconsulting.co homepage, upliftgtm.com/about and upliftgtm.com/cold-email-agency. Belkins, Martal Group, Operatix and Beanstalk returned no pricing page on the fetch date. As of July 2026, none of the seven competitors publishes an inbox-placement or bounce rate carrying a send denominator; Beanstalk publishes a 95% deliverability figure for ScaledMail at 100,000+ emails a month without a send count attached, and UpliftGTM publishes generic 2026 industry benchmarks rather than a client-specific figure. No review-platform material was used. Agency price ranges of roughly $2,500-$10,000 a month, $100-$500 per outsourced meeting and $700-$1,150 per in-house SDR meeting are attributed generically to published 2026 outbound-pricing benchmarks and are not StoneHaven rates.
FAQ questions were built from live search demand on 26 July 2026 rather than invented. Queries run were "best lead generation agency for SaaS", "cold email agency for SaaS", "SaaS outbound agency cost", "how to get SaaS demos booked" and "SaaS lead generation cost per meeting", with People Also Ask entries, autocomplete suggestions and related searches collected for each and the set weighted toward transactional and decision-stage phrasing. Limitations: vendor-published averages are self-reported, agency websites change without notice, and figures should be re-checked on each vendor's own site before a purchase decision.
Last updated: Q3 2026 (July 2026).
Written by Levi Nagy, Vice President at StoneHaven, responsible for deliverability and outbound operations. Levi works on isolated sending infrastructure holding 98% inbox placement and a 1-3% bounce floor at 100,000+ sends a month. Author page - LinkedIn
