SaaS startup CustomerSuccessBox raises $1 million from pi Ventures and Axilor
Bengaluru: CustomerSuccessBox, a business-to-business (B2B) software startup that helps companies streamline their business processes, has raised $1 million in a pre-series A round led by pi Ventures with participation from Axilor Ventures.
The fresh funding will be used to drive growth and product innovation, the company said in a statement.
The startup offers a cloud Software as a Service (SaaS) platform that helps a business in acquiring customers, on-boarding and managing users, and retaining customers using targeted campaigns. This allows businesses to market their products or services to the relevant audience and keep a check on churn rates.
Apart from this, CustomerSuccessBox also allows businesses to communicate with their clients within the software platform, and keep a record of business data, including contact information, purchase history, contract length, discounts and renewals.
The company applies artificial intelligence (AI) and machine learning (ML) to automate customer on-boarding, product usage analysis and user communication. The platform claims to have processed over 30 million data points from over 100,000 end users till date.
CustomerSuccessBox was founded in 2016 by Puneet Kataria and Amritpal Singh, who have previous experience in sales and marketing operations. The company said that its SaaS product is currently being used by startups, including XebiaLabs, WizIQ, Synup and WoowUp.
“B2B businesses churn and struggle with customer retention. Customer churn is the biggest blocker of growth, it’s like trying to fill up a leaky bucket. B2B SaaS and subscription businesses cannot continue to operate with the old ‘reactive’ support model. CustomerSuccessBox was built from a clear need for a solution which could deliver ‘proactive’ customer success,” said Kataria, chief executive officer, CustomerSuccessBox, in a statement.
pi Ventures closed its second fund worth $25 million in January. It largely focuses on early-stage startups working on AI, internet of things and currently has five portfolio companies namely CustomerSUccessBox, Zenatix, Ten3T, Sigtuple and Nirmani.