Preact, a San Francisco, CA-based provider of cloud automatic customer success service, closed a $4.6m Series A funding.
The round was led by Trinity Ventures with participation from existing investors Atlas Ventures, Karlin Ventures, Bee Partners, and Lion Wells Capital. In conjunction with the funding, Karan Mehandru, General Partner at Trinity Ventures, joined the Board of Directors along with Prakash Ramamurthy, Senior Vice President of Oracle’s cloud management business, and Chuck Dietrich, former CEO of SlideRocket and GM at Salesforce.com.
The company intends to use the funds to grow the product team and expand sales and marketing efforts.
Founded in 2012 and led by Michael Geller, CEO, and Christopher Gooley, Preact has just launched a service for subscription software companies to maximize the lifetime value of their customers using behavioral science, machine learning, and big-data analytics.
It automatically predicts and highlights the individual users and accounts that are likely to churn and/or upgrade by tracking detailed session-level usage of web usage, mobile applications, and server activity.
The company integrates its data into common workflow applications including Gmail, Marketo, Salesforce, Zendesk, Desk.com, and others.
It currently works with more than 40 customers, including Adomic, Bitium, Doctorbase, EatClub, Education.com, Lettuce, Propertybase, and RJMetrics.