The funding will help Retain.ai more than double its workforce by the end of the year. Here are the top-line bullets you need to know.
Retain.ai, a consumer analytics and insight engine, has raised $23M in a Series A. The round drew participation from Baseline Ventures, Emergence Capital Partners, Upside Partnership, and Afore Capital.
HOW’S THE COMPANY PERFORMING?
- California-based Retain.ai’s platform provides businesses with a unified view of customer engagement across processes, teams, and apps.
- Salesforce, Nielsen, and Google are among Retain’s customers — and it reported 36x average customer seat growth over the past year. Retain achieved 25% revenue growth by increasing engagement with, and retention of, high-value clients.
- The company’s annual recurring revenue has reportedly increased 8x in the last year.
Source: retain.ai
WHY DOES THE MARKET MATTER?
- The global enterprise performance management market is projected to grow at a CAGR of 6.3% and reach a value of $7.7B by 2026, according to Markets and Markets.
- Businesses have found that they need to modify their existing operational models to adjust to changing consumer preferences amid the pandemic.
- Major companies in the space, such as Oracle, IBM, Infor, SAP, Anaplan, Workday, Epicor Software, and Unicom Systems, have made significant investments in this industry.
Want to see more research? Join a demo of the CB Insights platform.
If you’re already a customer, log in here.
