Churned Raises €2.5M to Revolutionize Customer Retention
Churned, an Amsterdam-based AI platform for subscription businesses, just raised €2.5M in a funding round led by Newion and Volta Ventures, with support from existing investor Goldfish.
The company will use the funds to fuel its growth and international expansion, helping businesses predict and prevent churn while boosting customer lifetime value.
Sander Vonk, Managing Partner at Volta Ventures, commented on the investment:
"Monitoring customer satisfaction and identifying potential churn at scale has always been a complex challenge. With Churned's AI-powered platform, businesses can now address pain points more effectively and boost customer happiness, directly impacting their bottom line".
Michiel Doornenbal, co-founder of Churned, says,
“Many existing approaches are either too slow, too expensive, or require extensive manual input. While humans excel at connecting with customers, analyzing vast datasets and predicting behavior is where machine learning truly shines.”
“Our AI-driven platform takes on the heavy lifting, making customer success more cost-effective and impactful, allowing customer success teams to focus on building meaningful relationships with their clients.”
Addressing Key Challenges in the Subscription Economy
In the subscription economy, revenue growth through retention and upselling is fundamental.
But companies often struggle with vast customer data and ineffective tools for predicting churn or identifying upsell opportunities.
Traditional solutions, which rely on costly consultancy or generic software, fail to harness data-driven decision-making effectively.
Churned's AI-Driven Approach
Churned addresses these challenges with its AI-driven platform:
Predictive Models
The platform uses AI-driven predictive models to identify at-risk customers and upsell opportunities, helping subscription businesses boost retention and maximize revenue.
Prescriptive Models
These models recommend specific actions to retain customers and increase lifetime value, automating the process for optimal efficiency.
Targeted Messaging
Churned's platform enables businesses to target the right customers with the right messages, at the right time and through the right channels, all at scale.
This funding round positions Churned to make a significant impact in the customer success and retention space.
The company offers subscription businesses a powerful tool to enhance their customer relationships and drive growth.
Congrats, team Churned!
-Hakan.
Read more: Latest customer success news