Teams dedicated to customer acquisition, retention, and driving sales don’t always have the time or tools to effectively use data insights. In a 2019 survey, NewVantage partners: The percentage of companies that self-identify as data-driven has declined every three years, with more than half admitting they are not competing with data and analytics.
That’s why Ariel Maislos, who sold semiconductor startup Anobit to Apple for $400 million in 2012, partnered with Itamar Falcon and Michael Ehrlich to create a product-driven company designed to help businesses, especially software-as-a-service. Launched Coho AI, a revenue optimization platform. (SaaS) Business — Access insights for upselling and growth.
Coho AI announced today that it has raised $8.5 million in a seed funding round led by Eight Roads, TechAviv and angel investors. CEO Falcon says the funding will be used for product research and development and to expand the size of his Coho AI team, which currently has 17 people.
“Coho AI has developed a unique data integration platform that models the business value of software-as-a-service companies and uses machine learning and advanced analytics to map to customer behavior in real time,” Falcon told TechCrunch. Told. Email interview. “Coho AI’s behavioral modeling enables the creation of personalized customer journeys, which improves conversion metrics and enables revenue teams such as sales and customer success to work alongside product teams to achieve higher growth and sales efficiency. be achievable.”
The intended audience for Coho AI is sales, customer success, and product teams within business-to-business (B2B) SaaS companies. The platform not only provides AI models for discovering what “sticks” a product and what drives users to upgrade to paid B2B SaaS subscription plans, but also real-time usage models. to highlight upsell opportunities and churn risks, and provide a segmentation model to identify different users. based on their actions.
According to Falcon, all models are trained using anonymized data from Coho Ai’s customer base. “By doing so, we are creating a network effect where each customer benefits from a larger dataset, resulting in a more accurate model,” he added.
Beyond its AI-driven capabilities, Coho AI provides a single source of truth for sales, product, and customer success teams to pull data from both users and accounts. Observability dashboards allow growth teams to identify where users are in their customer journeys and tailor specific experiences to reduce drop-offs. Real-time triggers highlight opportunities for growth, such as “is it free to play?” and upsell.
“Among SaaS leaders, there is skepticism about whether external tools can model unique product value and turn it into actionable insights for go-to-market teams.[But] Coho AI can really help businesses improve metrics like net revenue retention and sales efficiency that are becoming more important in the current economic climate. “
Coho AI competes with startups such as Correlated and Endgame, but Falcon says the company already has “dozens” of customers and partners. However, he declined to provide income figures.
