Coho AI Secures $8.5M Seed Funding to Accelerate SaaS Companies Growth by Seizing the Potential of Product Usage Data
TEL AVIV, Israel--(BUSINESS WIRE)--Jan 12, 2023--
Coho AI ( https://coho.ai/ ), the product-led revenue platform, secures $8.5 million in seed funding led by Eight Roads, TechAviv, and a select group of angel investors, including company co-founder Ariel Maislos, Shlomo Kremer, Natan Linder, and other high profile founders. The funding round allows Coho AI to further build its platform that accelerates growth for B2B SaaS companies by effectively “lifting the hood” on their customer usage data. Coho AI helps foster a future of product-led growth by putting data at the forefront of decision-making.
SaaS products give businesses access to more data than ever, but most companies struggle to leverage it properly. Teams dedicated to boosting customer revenue, retention, and sales often do not have the knowledge or tools necessary to utilize data effectively. Understanding such data often requires extensive effort by R&D and data experts, while making it meaningful for GTM teams, requires the right methodology from growth experts. For these reasons, in-house solutions that exist today do not succeed in accelerating revenue growth.
Coho AI helps established companies that have reached Product-Market Fit evolve into product insight-driven businesses. Coho AI shows companies that a product-led growth (PLG) methodology can be applied to a wide range of SaaS companies and in different stages of a customer life-cycle. By 2025, Gartner estimates that 75 percent of SaaS providers will apply product-led growth techniques to drive existing customer growth and expansion. Coho AI puts a spotlight on product usage data, showing that it can, and should, be utilized throughout the customer journey to maximize growth. This approach can reduce churn while boosting go-to-market and customer success capabilities.
The platform allows customers to:
- Visualize: Creating a single source of truth for all GTM teams and provides a 360 degree overview of every user and account at any point in time.
- Analyze: Coho AI’s analysis algorithm (patent-pending) measures the value the user extracts from the product, defines customer journeys and generates recommendations to reduce drop-offs and improve growth.
- Prioritize: The platform automatically generates a customer health score, enabling users to prioritize their efforts.
- Act: Real-time triggers allow ongoing identification of growth opportunities in the entire customer revenue lifecycle. These triggers apply to real-time workflows in CEPs, CRM’s and other internal tech stacks.
“SaaS companies are in a unique position where they can actually measure the value their users extract from their products. By correlating this information with data coming from CS, sales, and support, we create a customer observability platform, which is crucial to generating sustainable and proactive revenue growth says Itamar Falcon, CEO of Coho AI. “Securing our funding is a huge step towards our platform’s capability to help businesses succeed in a tough and unpredictable market. Especially when KPIs are now more focused on sales efficiency and NRR. As revenue teams need more product insights, we aim to provide an out-of-the-box solution to a problem which companies tried to solve internally until now.”
“Coho AI’s platform enables SaaS companies to act on their product usage data like never before,” says Davor Hebel, Managing Partner at Eight Roads. “Today, more and more companies are adopting a PLG methodology, leading to huge demand for a platform such as Coho AI.”
About Coho AI
Founded in 2021, Coho AI empowers growth teams to deliver value to customers while increasing conversion rates, as well as assisting customer success and sales teams in targeting revenue growth opportunities. The Coho AI product-led revenue platform, powered by artificial intelligence, integrates seamlessly with existing B2B SaaS tools to provide a holistic analysis of all touch points the user has with the product. By creating understandable and actionable insights, Coho AI helps foster a future of product-led growth, putting data at the forefront of decision-making. For more information, please visit https://coho.ai/
About Eight Roads
Eight Roads Ventures is a global venture capital firm managing $11bn of assets across offices in the UK, China, India, Japan, and the US. Together with our associated funds, including our US sister fund F-Prime Capital, our 50-year history of investing includes partnerships with over 300 companies such as Alibaba, AppsFlyer, Chewy, Fareye, Fever, Flywire, Fireblocks, Funnel.io, Gloat, Hibob, Icertis, Neo4j, Otrium, Owkin, Paidy, Spendesk, Toast, Wallapop and Xoom. www.eightroads.com/
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ReBlonde, Coho AI
KEYWORD: ISRAEL MIDDLE EAST
INDUSTRY KEYWORD: DATA MANAGEMENT TECHNOLOGY PROFESSIONAL SERVICES OTHER TECHNOLOGY DATA ANALYTICS SOFTWARE ARTIFICIAL INTELLIGENCE OTHER PROFESSIONAL SERVICES NETWORKS INTERNET MOBILE/WIRELESS
SOURCE: Coho AI
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PUB: 01/12/2023 04:19 PM/DISC: 01/12/2023 04:19 PM