Churned.io Secures €2.5 Million to Empower Subscription Businesses with AI-Driven Retention and Upsell Strategies

‍Amsterdam, 09 September 2024 – Churned, an AI-powered platform designed to help subscription businesses retain customers and maximize revenue, has successfully raised €2.5 million in funding. The round was led by prominent European investors Newion and Volta Ventures, with participation from existing investor Goldfish. This funding will accelerate Churned’s growth and support its international expansion, enabling marketing and customer success teams at subscription-based businesses to better predict and prevent churn while increasing customer lifetime value.

Tackling the Critical Challenge of Customer Retention and Upsell
In today’s competitive subscription economy, revenue growth through customer retention and upselling is more crucial than ever. However, companies struggle with the overwhelming volume of customer data and the lack of effective tools to predict churn or identify upsell opportunities. Traditional solutions often rely on costly consultancy models or generic customer success software, failing to fully leverage the power of data-driven decision-making.

Churned’s AI Solution: Scalable Retention Marketing and Customer Success
Churned solves these challenges with its AI-driven platform, using predictive models to identify customers at risk of churning and to pinpoint upsell opportunities. The platform’s prescriptive models recommend specific, timely actions to retain customers or increase their lifetime value, automating the entire process for optimal efficiency. Moreover, it ensures businesses can target the right customers, at the right time, through the right channels, with the right messages - at scale.

"Many existing approaches are either too slow, too expensive, or require extensive manual input," said [Michiel], Co-founder of Churned. "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."

Fueling Innovation and Growth
With this latest funding round, Churned is poised to further enhance its AI capabilities and broaden its market footprint. Backed by Newion, Volta Ventures, and existing investor Goldfish, Churned is well-positioned to revolutionize retention marketing and customer success for subscription businesses worldwide.

Patrick Polak, Managing Partner at Newion, explains: “We are impressed by Churned’s technology, which replaces rule-based Customer Success systems with AI. Their specific focus on high-volume, low-margin subscription businesses helps their customers increase customer loyalty and lower churn. With this funding round, Churned will further accelerate its impressive growth.”

Sander Vonk, Managing Partner at Volta Ventures, added: "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. We’re excited to support Churned in this journey."

About Churned
Churned was founded in 2020 in Amsterdam by a Francisco Blasques, Michiel Doornenbal and Maarten Doornenbal. Churned empowers subscription-based businesses to increase customer retention and maximize revenue through its proprietary AI-driven platform. By delivering retention marketing and customer success at scale with actionable insights and automated strategies, Churned enables marketers and customer success managers to focus on building and nurturing customer relationships.

About Newion
Since 2000, Newion has invested in early-stage B2B SaaS startups in the Benelux, Nordics, and Germany. The European Union supports Newion IV through the InvestEU fund. www.newion.com

About Volta Ventures
Volta Ventures invests in young, promising internet and software companies in the Benelux. Teams in Antwerp, Amsterdam, and Ghent provide guidance and assistance to grow from startup to scale-up. www.voltaventures.eu

About Goldfish
Goldfish is an early-stage investor focused on innovative technology startups with a strong potential for growth. www.goldfish.global

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