Press "Enter" to skip to content

Andreessen Horowitz funds Vitally’s $9M round for customer experience software – TechCrunch

Customer success company inevitably Raised $ 9 million in Series A funding from Andreessen Horowitz and continued to develop a SaaS platform that automates the customer experience.

Co-founder and CEO Jamie Davidson came up with the idea of ​​Vitally when he was at his former company, Pathgather. As Chief Customer Officer, he was considering tools and was “overwhelmed” by the tools available to automate repetitive tasks. So he set out to make it.

The global pandemic has brought customer satisfaction into the limelight. Brands have realized that they need to change the way they interact with their customers because they make most of their purchases online. In the past, customer service representatives may have managed 12 accounts, but now with product-driven growth, they’re working on a portfolio of thousands of customers, Davidson told TechCrunch.

Founded in 2017, New York-based Vitally consolidates all customer data in one place and runs it into the engine to target what customers need, risk churn, and increase revenue. It provides insights into engagement, such as what it becomes. opportunity. The software also provides automation that balances workflows, guides customer success teams to tasks with the right customers, and engages them at the right time.

Andreessen approached Davidson for Series A, and he liked adjusting the customer success vision, he said. Including new funding, Vitally has raised a total of $ 10.6 million, including $ 1.2 million in September 2019.

Vitally’s revenue has grown significantly from the beginning, allowing the company to focus on building the platform and refrain from raising funds.

“Series A was certainly in our heads and on the roadmap, but we weren’t actively raising money,” said Davidson. “But we saw a great fit and great backing to help grow. The tools lag behind the areas of customer success and how to manage them. Andreessen has thousands of customers. It helps you grow and grow with your customers because you manage it. “

Davidson will use the new funds to fully expand Vitally’s team, enhance marketing efforts and bring the company to market. He expects to grow to 30 by the end of the year to support the company’s annual revenue growth (3x on average) and customer acquisition. Vitally is already working with large customers such as Segment, Productboard and Calendly.

As part of the investment, Andreessen’s general partner David Ulevitch has joined Vitaly’s board of directors. He emailed TechCrunch that he had the opportunity to rethink how SaaS companies achieved customer success.

Like Davidson, he thought the customer success team was helping the SaaS business grow, but especially many SaaS companies took a self-service or product-driven approach, more than legacy tools. Technology was lagging behind the needs of the market as it was collecting orders for.

Before the company met Vitally, Ulevitch said he had heard “praise” from customers.

“The feedback was overwhelmingly positive, and Vitally was actually mapping to how the company operates and how it interacts with its customers, especially those with long-tail customers, so it offered the best products on the market. I’ve confirmed the facts, “he added. “The first dollar to a SaaS company is great, but what makes the winner stand out from anyone else is the renewal and expansion dollars. Vitally, the company gets the renewal and the customer gets the account. We are in a great position to help you expand and ultimately gain space. “

Andreessen Horowitz funds Vitally’s $9M round for customer experience software – TechCrunch Source link Andreessen Horowitz funds Vitally’s $9M round for customer experience software – TechCrunch