Reef, a Honolulu, HI-based provider of Net Revenue Retention software, closed a USD 5.2M seed funding round.
Struck Capital with participation from SCV-SBI, Builders VC, Dig Ventures, and several angels.
The company intends to use the funds to scale up, and expand its reach.
Led by CEO Brenton Grimes, Reef is a customer revenue platform that helps companies predictably grow revenue with existing customers and ease net retention reporting.
Key capabilities include:
*Net Retention Analytics: Generate board-ready to grow and lets users know what they can do to make them more likely to grow
* Advanced Customer Segmentation and Visualization: Visualize territories to identify growth opportunity and churn risk based on engagement, product usage, consumption %, health score, and NPS
* Revenue Campaigns: Convert insights into action with advanced targeting and workflow to ensure consistent follow-through and execution
* Data History and Enrichment: Out-of-the-box data warehouse that builds rich data history and helps users improve customer data quality for effective customer scoring and analysis
Use cases include:
* Capture more ARR uplift at the time of renewal
* Identify and mitigate churn risks
* Improve cross-sell targeting and effectiveness
* Predict consumption overage for early upsell
The company already has over 30 customers and 10 employees.
FinSMEs
17/04/2023