Customer Insights Engine Retain Raises $23m

San Francisco-based retain.AI, which describes itself as a Customer Insights Engine (CIE), has raised $23m in Series A funding, which it will use to accelerate growth and bring in 'top talent'.

Retain's system allows clients - including Nielsen - to identify and share customer teams' best practices, to drive revenue and retention, giving those responsible for engaging customers 'a complete view into every customer lifecycle'. This includes the Retain Enterprise Browser Extension, which gathers customer engagement data from across the enterprise, integrating with the client's other systems.

The new round was led by VC firm Emergence, whose other investments include Zoom and Salesforce; with participation from existing investors Baseline Ventures, Upside Partnership and Afore Capital. The round quintuples the total the firm has raised to date.

Founder and CEO Eric Chernoff comments: 'Current customers will make or break enterprises over the next decade - over 75% of new revenue at established enterprises, and 100% of churn by definition, comes from current customers. Customer leaders are flying blind when it comes to trusted data to make the most important strategic decisions for the business, because data is being gathered through self-reporting or rigid integrations. Leaders are struggling to focus on the highest value processes and customers, and don't know how to remedy the situation. Retain provides a unified view of every customer to make data-driven decisions across the entire customer lifecycle'.

Web site: www.retain.ai .