Customer acquisition, lifetime value, and customer attrition (churn) are some of the main metrics that need to be managed closely for any growing business. Churn is one of the critical metrics that closely impacts the others from lifetime value, growth rate, virality, and CAC payback. In fact, 80% of a company’s revenue comes from existing customers. A small increase in retention can have an oversized impact on profitability. Involve.ai is a customer intelligence platform that leverages a company’s existing data points to build detailed profiles to determine which customers are most likely to churn, allowing teams to triage the relationship before it’s too late. Customer success teams are often manually going through disparate records across internal and external tools to do this work, neglecting revenue enhancement opportunities; Involve’s platform automates this laborious process with AI with a reported 94% accuracy in predicting churn. The business is born from an internal tool built at the founding team’s previous startup; the team recognized that this tool had widespread adaptability as a stand-alone product. LA TechWatch caught up with Involve.ai CEO Gaurav Bhattacharya to learn more about the Aha moment, the company’s strategic plans, recent round of funding from investors that include Sapphire Ventures, Bonfire Ventures, Greycroft, Launch Capital, BDMI, GTM Fund, Fenwick, Gokul Rajaram, Stanford University, and Michael Whitmire.
Sapphire Ventures
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