Stealth customer retention startup Brightback, which has been co-founded by Autopilot CMO Guy Marion, has now raised an amount of $8M in a funding round of series A, according to SEC filings.
The company was founded in March of 2018 and currently has six employees listed on its Linkedin profile. Brightback hired its CTO, Dani Pletter, in the month of July this year. According to the report the company has also revealed, the company raised $8.45 million in cash and the proceeds from converting an unspecified number of SAFE securities. And in the funding round around 32 investors participated in the deal, though the identities of those investors can’t be derived from the filing.
The first committed capital came in on the 4th of September. The document is dated September 19th, despite getting posted today. The round is fully-closed, with $0 left to raise. According to the filing, here’s who’s on the company’s board: Guy Marion, the company’s co-founder, and CEO. Marion previously served as the CMO of email marketing service Autopilot, among other prior roles.
Shardul Shah, which is a partner at of Index Ventures. Zack Urlocker, which is a tech executive who currently holds board seats at PubNub, Duo Security, and Revolution Analytics, among others, according to the LinkedIn profile. According to the company officials published in the month of May 2018, Brightback celebrated a “recent funding success” and previewed the product. It is not going to be totally unclear whether the transaction filed today includes the funding glancingly referenced in the company’s post from earlier in the summer.
Some of the other individual investors in the company include Scott Irwin, General Partner at Rembrandt Ventures, Clint Smith, Vice President at data management platform DataStax, Nick Soman, the former growth lead at Gusto, and Geoff Donaker, the former COO at Yelp.
Per its website, the company is an “automated customer retention company” which helps “subscription-based businesses grow customer lifetime value.” Marion said his team is “shining a bright light on the shady world of customer retention and aim to help subscription business everywhere reduce churn, grow lifetime value, and adopt data-driven best practices.”
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