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Mar, 20 2018

pi Ventures Leads pre-Series A round in B2B startup Customer Success Box

Startup accelerator and seed fund Axilor Ventures also participated in the round.

In a funding round led by early-stage venture capital firm pi Ventures, San Francisco- and Gurgaon-based Customer Success Box, an enterprise-based customer management platform, has raised $1 million (Rs.6.5 crore) in a pre-Series.

The startup will use the funds to drive growth and for product innovation, the statement said.

Startup accelerator and seed fund Axilor Ventures also participated in the round.

Customer Success Box was founded in March 2017 by IIM Bangalore alumnus Puneet Kataria and serial entrepreneur Amritpal Singh. Prior to setting up Customer Success Box, both Kataria and Singh founded Promoto.co, a business-to-business platform that helps enterprises convert customers into promoters, in 2016. Both co-founders also previously held stints at customer service platform, Kayako.

The startup helps B2B software-as-a-service companies grow their revenue and retain customers by automating customer onboarding processes, product usage analysis and user communication.

The startup’s customers currently include enterprise DevOps firm XebiaLabs, cloud-based ed-tech firm WizIQ, digital marketing startup for local businesses Synup and customer loyalty firm WoowUp. It claims that its patent-pending technology has processed over 30 million data points from over 100,000 end users to calculate account health scores.

Customer Success Box Co-founder and Chief Executive Kataria said, “B2B SaaS businesses bleed, churn and struggle with customer retention. Customer churn is the biggest blocker of growth. It’s like trying fill up a leaky bucket. B2B SaaS and subscription businesses cannot continue to operate with the old ‘reactive’ support model. Customer Success Box was built from a clear need for a solution which could deliver ‘proactive’ customer success."

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