Retain.ai, the first Customer Insights Engine, announced that it has raised a $23M Series A to help companies identify and share dynamic best habits that drive revenue and customer retention. The round was led by Emergence, the early investor in Zoom, Box, Veeva, Salesforce. Retain has raised a total of $27.6M to date, and the new financing will accelerate growth and acquire top talent.
Retain’s CIE gives a unified view of customer engagement across teams, processes, and applications all in one place. It seamlessly integrates with every browser-based application to create a detailed picture of customer engagement on a one-to-one level, allowing companies to optimise revenue growth and reduce potential churn.
Retain provides customer-facing teams the data-driven insights they need to be proactive and gives leaders the ability to measure internal process excellence and efficiency, and identify areas to optimise, automate, and improve.
Eric Chernoff, Founder and CEO at Retain, said:
“Current customers will make or break enterprises over the next decade – over 75% of new revenue at established enterprises, and 100% of churn by definition, comes from current customers.”
“Customer leaders are flying blind when it comes to trusted data to make the most important strategic decisions for the business, because data is being gathered through self reporting or rigid integrations. Leaders are struggling to focus on the highest value processes and customers, and don’t know how to remedy the situation. Retain provides a unified view of every customer to make data-driven decisions across the entire customer lifecycle.”
Retain’s customers include Salesforce, Nielsen, Google, among others. According to its data, Retain is:
- Doubling the efficiency of ongoing customer success processes like onboarding, training, and QBRs
- Returning 23,000 hours/year spent on cumbersome internal processes to maximise customer-facing time
- Growing revenue 25% by boosting engagement with high-value customers and increasing retention.
Laura McCullough, EVP N.A. Manufacturer Client Success at Nielsen, said: “Retain is a strategic partner for our business. Their technology helps us leverage a data-driven approach to identify and propagate the best habits that ensure our teams are the most effective across the entire customer cycle.”
