Teams dedicated to driving customer acquisition, retention, and sales don’t necessarily have the time or tools to use data insights effectively. In a 2019 study, NewVantage partners found that the percentage of companies describing themselves as data-driven has declined over the past three years, with more than half admitting they are not competing in data and analytics.
That’s why Ariel Maislos, who sold semiconductor startup Anobit to Apple for $400 million in 2012, along with Itamar Falcon and Michael Ehrlich Coho, launched AI, a product-based revenue optimization platform designed to help businesses, especially Software as a Service (SaaS ). ) to access information to drive sales and growth.
Coho AI announced today that it has raised $8.5 million in seed funding led by Eight Roads, TechAviv and angel investors. CEO Falcon says the capital will go to product research and development and expansion of the Coho AI team, which currently has 17 employees.
“Coho AI has developed a unique data consolidation platform that models and maps the business value of a software-as-a-service company to customer behavior using machine learning and advanced real-time analytics,” Falcon said in an interview with TechCrunch. . E-mail . “Coho AI’s behavioral modeling enables the creation of personalized customer journeys that improve conversion metrics and help sales teams, from sales and customer success to product teams, achieve greater revenue growth and efficiency.
Coho AI focuses on sales, customer success, and product teams in business-to-business (B2B) SaaS companies. The platform offers AI models to find out what makes a product “sticky” and what drives users to move to a paid SaaS B2B plan, real-time consumption models to highlight upsell opportunities and churn risks, and model segmentation to identify different users. because of your behavior.
Falcon says all models are trained using anonymous data from Coho Ai’s customer base. “In this way we create a network effect where each of our clients benefits from a larger data set, resulting in a more accurate model,” he added.
In addition to AI-powered capabilities, Coho AI provides a single source of truth from which sales, product, and customer success teams can extract user and account data. An observation dashboard enables growth teams to determine where users are in the customer journey and tailor a specific experience to reduce customer churn, while real-time triggers highlight opportunities for growth, including the free market. and additional sales.
“There is skepticism among SaaS leaders that a third-party tool can model their product’s unique value and turn it into actionable insights for go-to-market teams,” said Falcon. “[But] Coho AI really helps companies improve metrics like net income retention and sales efficiency, which have become increasingly important in the current economic climate.”
Coho AI competes with startups like Correlated and Endgame, but Falcon says the company already has “dozens” of customers and partners. However, he declined to provide income figures.
Source: La Neta Neta
Jason Jack is an experienced technology journalist and author at The Nation View. With a background in computer science and engineering, he has a deep understanding of the latest technology trends and developments. He writes about a wide range of technology topics, including artificial intelligence, machine learning, software development, and cybersecurity.