Preact receives Series A funding round valued USD4.6 million
Today, startup Preact has received a Series A funding round valued USD4.6 million. The investment was led by Trinity Ventures reported Venture Beat. Aside from the announced new investment the company has taken in, Preact also said that it has launched a new software platform that makes use of “leading-edge behavioral science, machine learning, and big data analytics,” reported Venture Beat.
Preact CEO Michael Gellar said, “It’s new high-level software that helps companies understand how their own customers are using their products.”
The company was established in 2012 in Los Angeles prior moving to San Francisco to be nearer Silicon Valley and the tech market. According to Geller, the company has been in stealth mode not until today that it has announced a new funding round. Preact has started the company with USD750000 seed funding, reported Venture Beat.
In a statement, Preact described its new software platform and how it works. The statement said, “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 up-sells. Preact provides health metrics tailored to each user and account by tracking detailed session-level usage of web usage, mobile applications, and server activity. Preact predicts and informs which customers are likely to churn, renew, or upgrade by modeling usage and behavior patterns using big data analytics, leading-edge behavioral science, and machine learning.”