Why We Invested
April 2024
Deepthi Madhava
As subscription software evolves, the traditional approach to customer success, which depends heavily on interactions with Customer Success Managers, is becoming difficult to scale. The move towards pricing based on usage and a focus on product-led growth highlights the importance of user adoption and engagement. Yet, handling user engagement on a large scale is challenging due to the vast amount of data on user behavior and the increasing interactions from various teams and tools.
Customer success teams are now tasked with doing more with less, as they face growing responsibilities and the need to prove their value. This is where Magnify comes in, using automation to transform how customer success is managed.
Magnify introduces a new phase in customer success, allowing teams to offer personalized experiences to users without increasing staff. It crafts custom adoption strategies, quickly spots users or accounts at risk, and identifies growth opportunities automatically. Magnify detects potential service drop-offs by comparing feature usage frequency with that of users who engage more frequently, then proactively keeps these users involved through tailored experiences, including in-product support and community engagement. Unlike competitors, Magnify not only analyzes user data but also actively reaches out to users neglecting key features with personalized messages and resources. This method not only prevents users from leaving but also enhances engagement through automated, intelligent tactics, freeing up customer success teams to focus on high-value tasks, thereby increasing both efficiency and effectiveness.
Josh Crossman, an experienced leader in customer success, leads Magnify. Most recently, Josh served as SVP of customers and operations at Chef Software, which was acquired by Progress Software.
The company stands out by integrating and acting on user data throughout the customer journey, offering precise predictions on user behavior. This not only helps in preventing churn and forecasting revenue but also in improving engagement through automated paths.
Targeting enterprise SaaS companies that are digital natives, Magnify is gaining traction with successful pilots and contracts. It aims to be a leader, not just a supplementary tool to platforms like Gainsight, by providing a unified view of user data and automating personalized actions.
Magnify is revolutionizing the way subscription software companies interact with their users by using automation and personalized experiences to improve customer success. We're thrilled to support Magnify as an early investor, alongside Madrona Venture Group and Decibel Partners.
Follow Magnify here for more updates.