CHARLESTON, S.C., April 25,
2024 /PRNewswire/ -- Churnkey, the leading provider
of subscription retention automation software, raised $1.5 million from Charlotte, NC-based CreativeCo, to accelerate
its growth. The Churnkey platform provides a wide range of
retention products, including personalized cancellation
flows, failed payment recovery, precision credit card retries,
and host of customer-centric subscription optimizations.
In the next year alone, as estimated by UBS Global, customers of
subscription-based businesses will spend nearly $1.5 trillion on subscription-enabled products.
With this new funding, Churnkey will leverage its immense dataset
of tens of millions of data points to unlock a new era of
strengthened customer relationships for the subscription
economy.
"While Churnkey is a profitable and growing business, we are
seeing incredible market demand that needs to be served beyond our
current capacity," Nick Fogle, CEO
and co-founder of Churnkey, said. "This fundraise from CreativeCo's
early growth equity fund will help us land key executive hires,
expand our market share, and continue our rapid pace of
innovation."
For high-volume subscription companies, poor retention can
change the trajectory of an entire business. Churnkey's platform
introduces a new paradigm, offering powerful in-app tools to manage
cancel flows, execute reactivation campaigns, and optimize
retention efforts at every stage of the customer journey. From
there, the platform helps make sense of all the data—whether it's
uniform or freeform—and tracks the revenue impact of every
touchpoint.
"Churnkey leads the retention automation space with a platform
that automatically and intelligently runs retention strategies
throughout a customer subscription—from trial through
post-cancellation," Travis Parsons,
CreativeCo Managing Partner, said. "The platform's ability to
integrate directly with payment platforms and leverage product
usage data enables a growing suite of retention automation
offerings that generate concrete ROI."
About Churnkey
Churnkey is the world's most powerful customer-centric retention
platform. They're the leading provider of retention solutions for
high-volume subscription businesses such in SaaS, media,
e-commerce, & consumer services. Its products drive automated
customer success, preventing both voluntary & involuntary churn
related to these subscriptions.
With embeddable cancellation flows, advanced failed payment
recovery, AI-driven feedback analysis, and personalized
reactivation campaigns, Churnkey helps their customers improve
retention while maintaining a user-friendly, self-service user
experience.
About CreativeCo
CreativeCo invests in fast growing, highly capital efficient B2B
software companies at the seed stage. CreativeCo has invested in
over 40 early-stage software companies across the US since its
launch in 2020 and supports its portfolio with the capital and
capabilities of its founder-aligned and operationally proactive
growth equity studio model.
Media Contact:
Baird Hall
baird@churnkey.co
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SOURCE Churnkey