Funding rounds off a successful year highlighted by triple digit revenue growth and product updates
ATLANTA – (October 31, 2016) UserIQ, the first and only Customer Growth Platform™, today announced that it has raised $2 million in Series A funding, led by BIP Capital. Atlanta’s Accelerant Venture Capital, BLH Venture Partners and Tech Square Ventures also participated in the funding round. The raise comes on the heels of a successful year in which the company nearly doubled its client base and increased its revenue by five times.
UserIQ’s Customer Growth Platform combines highly-targeted engagement features, deep user intelligence, and a Customer Health Dashboard to empower companies to transform the way they engage with their users to drive growth beyond the traditional sales funnel.
Launched in 2014, UserIQ tracks what users are doing inside web applications and enables customer success, product management, and product marketing teams to deliver relevant messages to the right user at the right time, guiding each customer to success. Companies now have the ability to understand who their users are and how they behave, so they can retain customers longer, grow accounts and turn their best customers into their strongest advocates. This results in 70 percent higher engagement rates and up to two percent decreases in churn.
“The UserIQ platform is truly differentiated in the marketplace, and we’re seeing that validated by the company’s customer and revenue growth,” said Ashish Mistry, managing partner at BLH Venture Partners. “UserIQ’s seasoned team and product strategy have the company poised for long-term success.”
In addition to core engineering team hires, the funding will be used to expand sales, marketing and customer success.
“B2B SaaS companies know it’s more profitable to retain an existing customer than to acquire a new one,” said Aaron Aycock, CEO and co-founder at UserIQ. “Our platform was created to help companies reduce churn by making their users successful throughout the customer journey. We’re proud to partner with such a strong network of investors to help us do this at scale.”
Headquartered in Atlanta, GA, UserIQ was founded in 2014 to help SaaS companies transform the way they engage with their customers. From onboarding and retention to expansion and advocacy, UserIQ combines user intelligence with targeted engagements to deliver what each customer needs to be successful at every moment. In 2016, the Technology Association of Georgia (TAG) recognized UserIQ a ‘Top 10 Most Innovative Company.’ For more information on UserIQ, visit useriq.com and follow us on Twitter @UserIQ.
About BIP Capital
BIP Capital is recognized as one of the most active and successful venture investors in the Southeast, serving entrepreneurs, investors, and operators to grow the emerging company ecosystem. They apply experience and process to make investment decisions and operational recommendations, allowing their portfolio companies to achieve and stay on a glide path of growth. Areas of focus include Software, Healthcare IT, Digital Media, Franchise and Ed Tech. For more information, visit http://www.bip-capital.com and follow them on Twitter @BIPCapital.
Nicole Wojno, CMO