Brightback raises $11 million for automated subscription retention service

Subscription retention and churn administration software program firm Brightback at the moment introduced the shut of a $11 million funding spherical. The funding shall be used to rent engineers, advertising and gross sales staff, and develop enhancements for its information and integrations platform constructed to categorise and section excessive quantity buyer bases.

“Quite a lot of these strategies can be utilized to assist firms establish which of their prospects are in danger then proactively drive experiences to interact that proportion of consumers who cancel and presents an alternate resolution,” Brightback CEO Man Marion instructed VentureBeat in a cellphone interview.

Pilot prospects like Loopy Egg have used the answer to cut back subscription cancellations 20 p.c by way of issues like buyer segmentation, workflow automation, and dashboards to visualise information and observe progress.

“Individuals are transferring towards subscription providers and in the event that they don’t prefer it they’ll click on cancel in a second, and what we wish to do is say we acknowledge that individuals are going to maneuver and go some place else, and we wish to use the instruments firms have already invested in to make it simple — issues like Salesforce, Zendesk, and Slack — to create a extra cohesive buyer expertise,” Marion mentioned.

Brightback’s $11 million spherical follows the shut of CleverTap’s $26 million earlier this month for its customer relation and retention software.

The $11 million funding spherical was led by Index Ventures with participation by Level 9 Capital, Maxtrix Companions, and Rembrandt Enterprise Companions.

Brightback was created in 2018, at the moment has 16 staff, and is predicated in San Francisco.

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