Divergent just finished leading investment in the seed round of Appuri, a SaaS application which enables companies to capture, analyze, and understand online customer data at scale. You can read about the funding in the article today on Geekwire. We invested in Appuri because it has a great team and addresses a real problem with easily adapted solutions. Appuri is in our theme of data driven apps that use new database, cloud infrastructure, and advanced algorithms to solve new kinds of problems for customers. What makes Appuri unique is that it provides a broader platform and is more easily deployed than its competitors. Without a lot of consulting, users of Appuri can quickly get answers to questions about their customer-retention, helping them understand in-depth who is leaving, why they are leaving, and what can be done in the future to stop churn.
To answer these questions, Appuri provides a Customer Data Platform provided as a service targeted at B2C companies. The platform has company-specific customization with a developer-friendly interface, making integration easy.Customization is obviously important with online subscription services coming in such different sizes and shapes from gaming to auto insurance. Furthermore, customers of Appuri can deploy data processes in a secure way by having their own virtual private cloud, ensuring sensitive or private information remains safe. Data from third party sources can also be augmented in the Appuri interface, enabling companies to more comprehensively understand subscribers. Lastly, Appuri is capable of handling data at scale enabling it to continue to be useful to companies as their consumer base grows.
Appuri provides a smart data pipeline that coalesces information from multiple sources within a company, provides alerts and normalizes that data and fuses it with information on location and demographics. It then applies advanced machine learning to predict churn and provide a SQL accessible data warehouse.
We were impressed by the team. Co-founder and CEO Damon Danieli has a history of entrepreneurship. He previously was a founder of Z2 a gaming company which was acquired by King.com. Bilal Aslam, co-founder and CPO, is a passionate developer who has filed 15 patents, and built and ran Microsoft Azure Marketplace. They are backed by a team with a wealth of experience, mostly former Microsoft employees.
Appuri’s target customers are online service subscribers seeking to optimize user retention. This market will only continue to grow as more and more companies begin using online-subscriptions as a way to sell their products. Appuri can greatly help these companies: research shows that a 5% increase in customer retention produces over 125% in profit and that repeat customers spend 33% more than new customers. These stats show that minimizing churn is not just helpful for a company, but integral to its success. With Appuri, a company does not need to hire its own data team to try and improve retention but can simply use this platform.
Having already been adopted by sophisticated customers, we are confident Appuri will his continue to gain traction and grow, enabling more companies to better interact with subscribers.