Artificial Intelligence startup CustomerSuccessBox raises $1mn from pi Ventures

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CustomerSuccessBox is an online platform automates customer on-boarding, product usage analysis and user communication in B2B SaaS companies

CustomerSuccessBox, an online platform which applies Artificial Intelligence (AI) and Machine Learning (ML) to automate customer on-boarding, product usage analysis and user communication in B2B SaaS companies, has raised $1 million in pre-Series A funding, led by pi Ventures with participation from Axilor Ventures.

The funding will be used to drive growth and product innovation.

CustomerSuccessBox is a customer success platform, which applies Artificial Intelligence (AI) and Machine Learning (ML) to automate customer onboarding, product usage analysis and user communication. Thus, enabling success managers to deliver a superior customer onboarding experience, retain customers, drive, upsell and improve Monthly Recurring Revenue (MRR) and Life-time Value (LTV) for SaaS businesses.

CustomerSuccessBox was founded in 2016 by Puneet Kataria (Founder & CEO) and Amritpal Singh (Co-founder & CTO). The platform is being used by success managers at global B2B software companies including XebiaLabs, WizIQ, Synup and WoowUp. Its patent pending technology has processed over 30 million data points from over 100,000 end users to calculate Account Health Scores.

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. CustomerSuccessBox was built from a clear need for a solution which could deliver ‘proactive’ customer success.”

Abishek Surendran, Partner, pi Ventures, added: “The focus of SaaS companies has shifted from customer acquisition to reducing churn. The founding team’s extensive understanding of the customer success space has helped build a world class product which we have no doubt can help SaaS companies retain customers. The product is a natural fit for AI and ML to automatically calculate customer health.”

pi Ventures is India’s first Applied Artificial Intelligence, Machine Learning & IoT focused early stage venture fund, founded by Manish Singhal (Ex Co-founder & CEO, LetsVenture and prominent angel investor) and UmakantSoni (Ex Director India, Science Inc & Co-founder AI BOT company). pi Ventures focuses on healthcare, logistics, retail, fintech and enterprise sectors and has so far invested in Zenatix (data-driven energy efficiency), SigTuple (revolutionising global healthcare space through data driven intelligence), NIRAMAI (non-invasive, non-touch, non-radiation approach to detect breast cancer) and ten3T (medical grade wearable device).

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