I'm thrilled to announce that Vitally, the leading Customer Success platform used by hundreds of high-growth teams such as Segment, Productboard, and Calendly, has closed a $9.2M Series A financing, led by Andreessen Horowitz (a16z).
We partnered with a16z because we both saw the challenges facing modern Customer Success teams—and the market's inability to solve those challenges—through the same lens. When Customer Success first originated, it was focused on a 1-to-1 model—one Customer Success Manager managing a small portfolio of customers, giving each customer clear time and attention. This model led to the creation of the traditional Customer Success platform—a tool these teams used to organize customer data and activity.
Yet, as SaaS evolved and as teams invested in different pricing and growth strategies such as product-led growth, Customer Success had to evolve as well. Rather than managing dozens of customers, Customer Success organizations at high-growth companies found themselves managing tens of thousands of customers—a scale neither they, nor the platforms of old, had ever seen before. This leads us to a new model of Customer Success, the 1-to-many model, where rich analytics and automation help teams automate their repetitive tasks and pinpoint the exact customers in need of proactive help.
With this model, Customer Success finds itself in a much different position. Rather than being solely focused on customer retention, it now finds itself squarely in the center of revenue growth. As customers self-serve onto a product at a lower price point, Customer Success is now responsible for ensuring the success of those customers and growing their revenue to levels many multiples higher than where it started. Doing this at scale—across hundreds, or even thousands, of new customers every month—is a dramatically different challenge from the 1-to-1 model teams were used to.
It is this challenge, and the lagging market's inability to solve it, that led my cofounder and I to start Vitally. Our mission from day one has been to help teams implement personalized Customer Success at any scale. In other words, regardless of whether you're implementing 1-to-1 Customer Success or 1-to-many, Vitally should be the platform at the center of your efforts. A platform that helps you automate workflows across your longer tail of customers and maintain a white-glove approach with your highest value accounts. We've been that platform for hundreds of high-growth teams like Segment, Productboard, Calendly, Zapier, Close, Gorgias, and Customer.io—and this round of funding will help us be that platform for thousands more.
The feedback from these amazing customers has helped us create the most powerful, flexible product available to Customer Success, and it was their feedback that helped us connect to David Ulevitch at a16z. David has had a front row seat over the years to the ever-evolving role that Customer Success plays at high-growth companies and to the market's inability to keep pace with that evolution. After chatting with teams using Vitally and hearing how they were finally able to scale their Customer Success efforts across their ever-increasing customer base, he knew the market finally had a player looking toward the future of Customer Success.
We're thrilled to have the backing of David and the entire a16z team as we continue on our mission to help all teams, regardless of whether you just acquired customer #10 or #100,000, provide personalized Customer Success at scale. Backed by powerful integrations, analytics, automation, and work management, it is our driving goal to empower all Customer Success teams to create best-in-class customer experiences.
Reach out to us today to learn more about how we can help scale your Customer Success efforts.