ProsperStack, a Minneapolis, MN-based cancellation flow software boasting the ability to reduce subscriber churn by up to 30%, announced that it raised $2 million in seed funding, bringing ProsperStack's total funding to $2.35 million.
The round was led by Sandalphon Capital, with participation from Homegrown Capital, Jason Calacanis' LAUNCH fund, Groove Capital, and Gopher Angels.
The fund will be used to accelerate ProsperStack's mission to make it easy for subscription-based brands to prosper by automating and enhancing the customer retention experience.
"This raise is a result of the hard work the team has put in the past 12 months," said Tony Sternberg, CEO & co-founder of ProsperStack. "ProsperStack is as much about helping our clients with retention as it is enabling them to create amazing offboarding experiences that their customers will love. We can't wait to use these funds to scale our marketing, customer success, development, and sales operations during our next phase of growth."
ProsperStack's subscriber base is steadily growing as a result of its comprehensive suite of low-code tools for optimizing self-service cancellation flows for customers in the SaaS, newspaper, digital media, publishing, marketing, advertising, IT, and telecommunications industries. Customers who have used it include Hootsuite, Roll20, SwingU, and Soundstripe.
Company: ProsperStack, Inc.
Round: Seed Round
Funding Month: November 2022
Lead Investors: Sandalphon Capital
Additional Investors: Homegrown Capital, Jason Calacanis' LAUNCH fund, Groove Capital, and Gopher Angels
Company Website: https://prosperstack.com/
Software Category: Cancellation Flow Software
About the Company: ProsperStack is a low-code SaaS for subscription-based businesses. ProsperStack is a drop-in cancellation flow that prevents churn and helps to understand why subscribers leave. The ProsperStack cancellation flow is a low-friction, beautiful offboarding experience that's kind to users and serves your business. ProsperStack is built to be a seamless solution that creates an immediate return on investment with the easiest setup, support, integrations, and optimization tools. Its platform automates and enhances subscriber retention experiences. ProsperStack helps you retarget lost revenue effectively, plus provides insight into key decisions about your product roadmap, pricing, service, and support. Founded in 2020 and is based in Minneapolis, Minnesota.