Teams focused on customer acquisition, retention and sales often lack the resources to leverage data insights. A 2019 survey conducted by NewVantage Partners revealed a three-year decline in firms claiming they are data-driven, with over half confessing they aren’t competing using data and analytics.
Ariel Maislos, who sold Anobit to Apple for $400 million in 2012, has formed Coho AI with Itamar Falcon and Michael Ehrlich. This product-led revenue optimization platform helps SaaS businesses obtain valuable insights for upselling and growth.
Coho AI today announced a successful round of seed funding, raising $8.5 million from Eight Roads, TechAviv and angel investors. CEO Falcon said the capital will be used to boost product R&D and grow their team – currently 17 members strong!
Coho AI is designed to help B2B SaaS teams understand what drives engagement and upgrades. Its AI models reveal which features make a product “sticky”, identify upsell opportunities, spot churn risks and segment users by behavior.
Falcon states that all models are trained with anonymized data from Coho Ai’s customers, resulting in a larger dataset and more accurate model for everyone.
SaaS leaders are skeptical of external tools being able to capture their product’s value and provide actionable insights for go-to-market teams, according to Falcon. However, Coho AI has proven itself by improving crucial metrics such as net revenue retention rate and sales efficiency – especially vital in today’s economic climate.
Coho AI is facing competition from startups such as Correlated and Endgame, yet they have “dozens” of customers and partners. Revenue figures remain undisclosed.