Amsterdam-based Churned.io, which develops AI-powered software to help subscription businesses retain customers and maximize revenue, has raised €2.5 million. The funding was led by Newion and Volta Ventures, with participation from Goldfish. This new capital will enable Churned.io to further develop its offerings and expand globally.
- Founded in 2020 by Francisco Blasques, Maarten Doornenbal, and Michiel Doornenbal, Churned.io is an AI-driven platform that optimizes customer retention and revenue for subscription businesses. It identifies at-risk customers, recommends timely actions to address their needs, and automates these processes to ensure maximum efficiency and effectiveness.
"Our AI-driven platform takes on the heavy lifting, making customer success more cost-effective and impactful, allowing customer success teams to focus on building meaningful relationships with their clients," Co-founder of Churned, Michiel Doornenbal, stated.
- The startup is trusted by several notable firms, including War Child, TweakWise, mijndomein, and digihero.
Details of the deal
- The fresh capital round was led by Newion, an Amsterdam-based venture capital firm that invests in B2B cloud, SaaS, and software companies at the post-seed and Series A stages. Dutch VC Volta Ventures, which supports seed and early-stage internet and software startups in the Benelux region, also participated in the round.
“We are impressed by Churned’s technology, which replaces rule-based Customer Success systems with AI. Their specific focus on high-volume, low-margin subscription businesses helps their customers increase customer loyalty and lower churn. With this funding round, Churned will further accelerate its impressive growth," Managing Partner at Newion, Patrick Polak, commented.
- The funding round also saw participation from existing investor Goldfish Global, an Amsterdam-based venture capital firm with a portfolio of 50 exits and 250 funding rounds.
- The new investment will help Churned.io improve its AI technology and expand its reach, making it well-positioned to transform retention marketing and customer success for subscription businesses around the world.
