Amritpal Singh (left), and Puneet Kataria’s CustomerSuccessBox warns clients if they risk losing a customer
Image: Amit Verma
As the sharing economy matures, more and more people are seeing the benefits of renting goods rather than owning them. As a result, understanding customer behaviour and choices has become crucial for companies. That’s where CustomerSuccessBox (CSB) comes in.
It helps businesses understand things like the likelihood of users renewing or terminating their subscription. “Each company following this [subscription] model is clueless about its subscribers’ choices, until the date of contract renewal. By then, it is usually too late to retain a customer,” says Puneet Kataria, 41, CEO and founder, CSB. This affects a company’s monthly recurring revenue, a major part of the total income. “Through machine learning and AI, we decided to cater to this gap in the market, by providing real time information about each account, that is every client,” says Kataria, who has been a sales professional for 16 years and was vice president, sales and marketing, at a SaaS company previously.
Presently, CSB only focuses on B2B SaaS companies, helping them grow recurring revenue. Some of its clients are XebiaLabs, WizIQ, Synup and WoowUp. Through the data generated via machine learning and AI, CSB can predict and project account health. “CSB works on the concept of leading indicators and not lagging indicators, which means we warn the clients if they are at the risk of losing a customer. It is a live application, wherein the manager can login anytime for an update,” says Kataria.
As of now, the startup is tracking 100,000 accounts daily; it hopes to have 10 times the number by the end of next year. CSB raised $1 million in a pre-Series A funding led by pi Ventures with participation from Axilor Ventures in March 2018.
“Every SaaS platform charges by the value delivered. For CSB, it’s the client account and every customer saved is revenue earned. Today CSB processes millions of events to track the health for over 100,000 accounts daily,” says co-founder Amritpal Singh, 28. The B2B startup’s prices range from $199 for 200 accounts to $999 for 2,000 accounts per month.
(This story appears in the 20 July, 2018 issue of Forbes India. You can buy our tablet version from Magzter.com. To visit our Archives, click here.)