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Since inception, Catalyst has opened its NYC headquarters and hosted its first community event where leading companies gathered to discuss the future of customer success, with participation from companies like Asana, Braze, Carta, Invision, and Segment
Fremont, CA: SaaS startup focusing on customer success, Catalyst, secured USD 25 million in a Series B funding round led by Spark Capital. The new round of funding brings the total raised capital by Catalyst to USD 45.4 million. Investors believe, the company which was launched just two years ago, is leading the change for businesses looking to make customer success a company-wide mission. The proceeds from the new round of financing will be used by the company towards significant market expansion, scaling new employee growth, and further community building.
"We're in a unique position to help businesses succeed through a time when customer retention is critically important," said Edward Chiu, CEO, and Co-Founder of Catalyst. "Catalyst is the first company to bring Customer Success to the center of organizations, and it's vital to have all hands on deck to help customers succeed." The company, since raising its Series A less than a year ago from Accel, has grown ARR by 380 percent. Since inception, Catalyst has opened its NYC headquarters and hosted its first community event where leading companies gathered to discuss the future of customer success, with participation from companies like Asana, Braze, Carta, Invision, and Segment.
“We are thrilled to partner with what we believe will ultimately become a category-defining company,” said Will Reed, General Partner at Spark Capital. “Catalyst offers the most intuitive workflow software for Customer Success teams, along with the most powerful way for product managers, marketers, data scientists, and executives to engage strategically around their existing customer relationships.”
The increasing interest shown by investors highlights a seismic shift for many businesses. Sales revenue for technology startups is expected to decline over the next few quarters, making it more vital than ever to maintain relationships with existing customers and hold onto earned revenue streams. Catalyst helps teams harness a deeper understanding of customer health, at a time when driving added revenue from existing customers is a crucial source of growth.
“It’s never been more important to double down and serve your existing customers,” said Vas Natarajan at Accel, an existing investor who followed on the round. “Businesses thriving in this environment put Customer Success at the heart of their organization. Before you win new customers, become indispensable to the ones you already have.”
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