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Cloud-based Software Startup Preact Receives $4.6 Million Investment

April 20, 2014
by Staff Writer

San Francisco-based cloud software startup Preact has received a $4.6 million investment. The Series A round of investment was led by Menlo Park, California-based early stage venture capital firm Trinity Ventures. The news came alongside the launch of the company’s new software platform, which leverages behavioral science, machine learning, and big data analytics to furnish product usage results.

Launched in 2012 with a $750,000 seed round, Preact is a “cloud-based, automatic customer success service that helps subscription software companies maximize customer lifetime value by reducing churn, acquiring new customers, and driving upsells.” The company’s software offers “health metrics” that provide web, mobile applications and server usage data.

The company recently increased its staff to 15 people and it already has 40 customers that pay on an annual basis. Its board now includes Oracle’s senior VP and cloud management business president Prakash Ramamurthy, and former SlideRocket chief Chuck Dietrich.

“Preact provides deep, real-time visibility into product usage to dramatically improve customer support and product quality,” explained a Preact press release. “Preact integrates its data into common workflow applications including Gmail, Marketo, Salesforce, Zendesk, Desk.com, and others.”

"Today, it's far more profitable for software companies to keep customers than find new ones, which is why growing recurring revenues is the most cost-effective way to drive long-term value," suggested the company’s CEO Michael Geller. "We're seeing rapidly accelerating demand from sales and customer success teams who need accurate analysis of the health and activity of their customers so they can act proactively to save or upsell them."

Do you know of any other companies that have received investment? Let us know the details. Add your comments below.

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