Amsterdam-based Churned, an AI platform for subscription businesses, announced that it raised €2.5M in a funding round led by Newion and Volta Ventures, with support from existing investor Goldfish.
The funds will fuel growth and international expansion and help businesses predict and prevent churn, boosting customer lifetime value.
Sander Vonk, Managing Partner at Volta Ventures, says, “Monitoring customer satisfaction and identifying potential churn at scale has always been a complex challenge.”
“With Churned’s AI-powered platform, businesses can now address pain points more effectively and boost customer happiness, directly impacting their bottom line. We’re excited to support Churned in this journey.”
Scalable retention marketing and customer success
According to a statement from Churned, in the subscription economy, revenue growth through retention and upselling is critical, but companies struggle with vast customer data and ineffective tools for predicting churn or identifying upsell opportunities.
Traditional solutions, relying on costly consultancy or generic software, fail to harness data-driven decision-making effectively. Churned addresses these challenges with its AI-driven platform,
Churned uses AI-driven predictive models to identify at-risk customers and upsell opportunities, helping subscription businesses boost retention and maximise revenue.
Its prescriptive models recommend specific actions to retain customers and increase lifetime value, automating the process for optimal efficiency. The company claims that its platform enables businesses to target the right customers with the right messages, at the right time and through the right channels, all at scale.
Michiel Doornenbal, co-founder of Churned, says, “Many existing approaches are either too slow, too expensive or require extensive manual input. While humans excel at connecting with customers, analysing vast datasets and predicting behaviour is where machine learning truly shines.”
“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.”
Capital utilisation
The funds will help Churned to enhance its AI capabilities and expand its market reach. The company aims to transform retention marketing and customer success for subscription businesses globally.
Patrick Polak, Managing Partner at Newion, says, “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.”
