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ChurnZero — a Crystal City-based company aimed to specifically combat customer attrition through better software management — recently scored $7 million in Series A funding.
The start up uses software to track how customers use a company’s product and the likelihood of subscribers to renew. The end goal is using this information to allow companies to personalize the customer experience and quickly fix issues that are leading to customer attrition.
In a press release, the company said they would invest in additional product development and more customer support staffing.
You Mon Tsang, co-founder and CEO of ChurnZero noted in the press release that:
Building a customer success platform that integrates data and customer touchpoints from a myriad of sources, generates insights and analytics, and kicks off workflows and communications is a tough technical project and is a proud achievement for our team. But our real achievement is creating a happy and successful customer base. Our growth has been testament to our efforts so far and I am thrilled to have Baird Capital as partners to invest further in the company and in the ecosystem.
The funding was led by Baird Capital, a venture capital investment group.
The new funding was more than triple what ChurnZero had raised since its founding in 2015, increasing the total funding from $3 to $10 million.
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