PRESS RELEASE:
SaaS customer success management company raises capital to fund product development and growth
CARMEL, Ind.–(BUSINESS WIRE)–February 13, 2017–
Bolstra, an agile customer success management platform for software-as-a-service companies, today announces its raise of $1.5 million in seed funding. The round was co-led by Allos Ventures and 4G Ventures, and included participation from Collina Ventures, Elevate Ventures and private investors.
Bolstra’s customer success solution guides users through a series of best practices for customer engagement, assisting SaaS companies in maximizing retention and ultimately customer lifetime value. Through these best practices, Customer Success professionals are able to deliver on their customer’s desired outcomes which also leads to better upsell opportunities.
“Following the immediate positive response from our product launch in December, we raised capital from both past and new investors in order to further fuel the growth of the product, as well as sales and marketing efforts,” said Haresh Gangwani, CEO of Bolstra. “SaaS companies do not need to accept a high churn rate as a cost of doing business – Bolstra provides a way to develop greater lifetime value, and we’re looking forward to further developing the platform.”
Bolstra launched in 2016 with the goal of improving customer success management for SaaS companies to increase overall lifetime value. Since launch, Bolstra has helped a roster of growing SaaS and other B2B technology customers including aPriori, DemandJump, Formstack and ClearObject.
“Bolstra’s visionary leadership has quickly launched an effective platform that’s clearly validated by market need,” said Don Aquilano, Allos Ventures. “With public cloud services reaching $200 billion in market size, SaaS companies need an edge to stay ahead and Bolstra’s solution provides the increased customer lifetime value to do just that.”
This is the second seed round for the company, which raised $1.5 million in July 2016. To learn more about Bolstra, visit Bolstra.com.
About Bolstra
Bolstra provides an agile customer success management solution for B2B SaaS companies looking to maximize customer lifetime value, increase retention and reduce churn. By prescriptively managing engagements in real time using Bolstra’s solution, businesses see increased revenue, experience fewer fire drills, and enjoy growing satisfaction from their customers. Learn more about Bolstra by visiting Bolstra.com and connecting on Twitter and LinkedIn.
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