The Science of Retention in Focus
Predictive analytics vendor Retention Science has raised $7 million in a Series A funding round led by Upfront Ventures, bringing its total funding to $9 million.
As acquisition costs across the digital channel continue to rise, enterprises are actively seeking out opportunities to retain the clients and customers they have. Retention Science provides a solution that develop personalized messages to customers based on what analytics reveals they may purchase, leading to repeat sales, increased order value and stronger brand loyalty.
The new funds will be used to accelerate hiring with the intention of doubling its employee base by the end of the year. Retention Science will also strengthen its sales and marketing team, a process that began with the recent hiring of Scott Schnaars, former general manager at Badgeville, as its new head of global sales and marketing.
“I have witnessed firsthand the opportunity for even the world’s largest brands to better nurture their customer relationships and drive more and incremental business,” said Greg Bettinelli, partner at Upfront Ventures and previously the CMO of HauteLook, a leading e-commerce business acquired by Nordstrom. “Retention Science provides powerful retention marketing solutions that deliver meaningful results, and I look forward to partnering with Jerry and his team to expand upon their strong market position.”
E-commerce veteran and Upfront Ventures partner Greg Bettinelli and Forerunner Ventures founder Kirsten Green will join the Retention Science board of directors.