Reptrics, a Customer Success CRM, has raised $600K in seed funding led by venture capital firm TampaBay.Ventures. The investment will be used to expand Reptrics mission to help subscription based Customer Success teams, drive product adoption, expand growth opportunities, and reduce churn.
Reptrics is designed for high-growth B2B SaaS businesses. The platform helps post sales teams manage their customer experience, beginning with the handoff from sales through the renewal and expansion. Founded in 2019, Reptrics, a member of the 2019 Tampa Bay Wave Tech Accelerator cohort, uses big data to deliver real time actionable results to Customer Success Teams across the globe.
Reptrics seamlessly integrate with CRMs including Hubspot, ticketing software Zendesk, and other SaaS solutions to successfully predict customers future outcomes. Key features of the platform include Customer 360, Health Scores, Alerts, Customer Segmentation, Playbooks, NPS/CSAT Surveys, and Automation.
Tampa-based venture capital firm TampaBay.Ventures is the lead investor of this deed fundraising round. TampaBay.Ventures is committed to investing in new generation tech founders to create an internationally recognized startup ecosystem in the Tampa Bay region.
“Reptrics provided an exciting opportunity for the TampaBay.Ventures team to pursue a company within the customer success space, a vertical we have been extremely excited by. As new customer acquisition becomes more challenging and expensive for software businesses, retaining their current users becomes of paramount importance,” said TampaBay.Ventures General Partner, Andreas Calabrese. “In the last three years, customer success and customer retention spending have grown by 23% as an annual average. This provides a new, developing market with a demand for better tools and insights. Kevin Goodwin and his team at Reptrics have the experience in running global customer success functions, which we believe is a prerequisite for success.”
Reptrics, headquartered in Tampa, is co-founded by Tampa-based Kevin Goodwin and Utah-based Zack Simon, who are looking to expand in both Tampa and Utah, two of the fastest growing tech ecosystems. Both Goodwin and Simon are entrepreneurs with extensive leadership experience in finance and tech. They led a bootstrapped Technical Service startup to an exit in 2014 before founding Reptrics.
“We built Reptrics to unify the post sales customer success experience. The tools we offer will continue to be in high demand as SaaS companies race to improve their customer onboarding, retention, and expansion opportunities. This new investment allows us to innovate faster to serve customer success teams, who are responsible for driving successful software adoption and growth,” co-founder, Kevin Goodwin.
The last 24 months have been challenging. Economies are changing and many companies are looking to retain and grow clients through challenging markets. Fortunately, those companies are an attractive target market for Reptrics, thus being an exciting time for the startup. Business intelligence systems is a $16B market, with a wholesale shift to digital customer experience. The investment in Reptrics by Tampa Bay Ventures is rapidly shaping the next generation of customer success platforms.