Magnify Raises $6M and Announces New Platform for Post Sales Orchestration
MADRONA VENTURE GROUP leads round that includes a Who’s Who of PNW Business Tech Founders and DECIBEL Partners
SEATTLE & BEND, Ore.–(BUSINESS WIRE)–November 1, 2021–
Magnify, a startup that transforms the customer experience through post-sales orchestration, today announced $6M in seed funding from Madrona Venture Group, Decibel Partners (led by GP Sudip Chakrabarti), and a bevy of PNW SaaS executives, including Bill Richter, CEO of Qumulo; Christal Bemont, CEO of Talend; Elissa Fink, former Tableau CMO; Jon Gelsey, former Xnor and Auth0 CEO; Will Arora, CTO of Assurance, and several others.
Magnify was incubated at Madrona Venture Labs and partnered closely with Madrona managing director and former Concur CEO, Steve Singh, to develop the concept, and was founded by veteran software executive Joshua Crossman.
Magnify is designed to transform the enterprise software customer experience. An entirely new type of software called post-sales orchestration, Magnify automates and optimizes the many different touch points that customers experience when they onboard and use software. It simplifies and reduces work for Customer Success and Product teams, integrating with their existing systems.
Magnify uses AI and Machine Learning to optimize and automate the customer lifecycle for enterprise software. From emails to training videos to in-product interactions to customer success platforms, Magnify creates the ideal sequence and timing of your customer interactions. Designed to drive deep adoption and usage in a customer account, Magnify will identify where churn or expansion is likely and automatically launch the appropriate action in software. Magnify is a no-code tool that integrates with existing customer experience products such as Gainsight, Salesforce, Marketo, Pendo and more.
Magnify’s CEO is Joshua Crossman, an experienced software senior exec who has led large global teams at Chef, BrightEdge, QuinStreet, as well as almost a decade at McKinsey. Steve Singh will join as the Chairman of the Board, and Barry Crist, former CEO of Chef Software will also join the board. The company will have operations in Seattle, WA and Bend, OR.
“I’ve led hundreds of Customer Success professionals in my career, and Magnify is the solution that we have been waiting for. The vast majority of software revenue occurs after the first sale, and we need to bring modern AI solutions into this space. Customer Success and Product teams are doing heroic efforts to help customers adopt and succeed with their software, but the work is too manual and disjointed. Magnify automates critical steps in the customer lifecycle and frees up the Customer Success and Product teams to do the strategic work they want to do. I know I would have wanted this technology in my previous companies and am excited to bring this product to the teams that need it,” said Joshua Crossman, CEO and founder.
“Magnify solves a massive problem in the software industry, and I’m deeply excited about its potential to transform the customer lifecycle. Growth and value creation for software companies is directly tied to reducing churn and increasing product adoption, and the teams running those efforts need the benefits of the modern tech stack,” said Steve Singh, managing director, Madrona Venture Group.
Magnify has already begun testing with early customers and will be making the product generally available in the coming months.
Magnify is continuing to build its team, particularly in engineering, product, and data science. If you are interested in joining, please visit http://www.magnify.io/opportunities
About Madrona Venture Labs & Madrona Venture Group
Madrona Venture Labs is the incubation arm of Madrona Venture Group–the leading venture capital firm in the Pacific Northwest. Together, they partner with founders from day one to build venture-scale companies. A 100% operator-led studio, MVL represents an integral part in Madrona’s continuum of Day One for the long-run commitment to founders. Madrona has a 25-year history of supporting PNW founders, including early investors in Amazon, Smartsheet, Rover, and Snowflake.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211101005197/en/
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more
Source: Read Full Article