A Customer Success Platform, Lift Relations, Raises €2.6 Million
With the aim to improve customer relationships, Customer Success Platform Lift Relations has raised €2.6 million in latest funding round.
Understanding requirements of customers is one of the most critical aspect for any business to succeed. The customer success platform, based in Denmark – Lift Relations – aims to make companies more profitable by understanding the demands of the customers efficiently.
The platform has successfully secured €2.6 million in latest funding round. This funding comes from Seed Capital to boost and improve the services of the platform.
Lessening the attrition rate and improving the client upselling are some very important parts of any B2B company. It is a metric to assess the loyalty of the customers. Its importance can be further assessed from the fact that all of the Fortune 500 companies would agree that keeping existing customers loyal is very important to keep a business alive.
This is the reason that ‘customer success’ is gaining attention in business operations nowadays. This is the reason that almost 83% of the customer success teams have seen growth in last year. Net Promoter Score is one of the popular customer health metric.
However, Lift Relations is aiming to disrupt this metric and introduce its own “Lift Score” as a metric to measure, improve, and predict customer health. One of the major problems with NPS is that it does not consider the complexity of B2B relationships. Because there exist multiple stakeholders with different and conflicting neds and demands.
Companies who can afford it, can get insights from large consultanties like PWC on yearly basis. But in today’s rapidly moving and changing world, yearly reports does not hold water.
In this context, Lift is providing rapid insights into possible challenges and prospects in a relationship on time better others with its AI-Powered engine. Doubtlessly, AI is playing crucial role in business operations. Moreover, the company has already successfully designed a system for real time prediction of marketing and advertising.
The company has already made its impact in the market. After 5 years of tracking data, companies that used Lift have reported that they were able to reduce customer churn by 30%. Althoguht it was founded in Denmark, but it is also operational in USA. With the new funds, Lift is planning to expand its services in other regions and improve their products further.
Story Credits: Eu-Startups