Stay Ai, a New York-based company that offers a recurring commerce enablement platform, announced a Series A funding round, securing a total of $15.1 million.
The funding round included $8.6 million led by Telescope Partners, with participation from Boulder Food Group, Riverpark Ventures, and Vanterra Capital.
Additionally, there was a previously undisclosed $7.5 million investment, led by Watchfire Ventures and a group of individuals, including Sharma Brands founder Nik Sharma and Postscript founder Adam Turner.
With the recent Series A funding of $15.1 million, Stay Ai plans to expand its team, accelerate its innovation roadmap, and make additional acquisitions.
Stay Ai offers a recurring commerce enablement platform for subscriptions, clubs, and memberships, designed to help Shopify brands improve their subscription programs, reduce customer cancellations, and increase customer lifetime value.
The platform provides various tools to enhance customer loyalty, including an SMS chatbot, surveying, and rewards programs. It also features an AI-powered system called ExperienceEngine, allowing merchants to perform marketing procedures like A/B testing and leverage predictive analytics and machine-learning models to make better decisions on deployment strategies.
Company: Stay Ai, Inc.
Raised: $15.1M
Round: Series A
Funding Month: July 2023
Lead Investors: Telescope Partners, Watchfire Ventures
Additional Investors: Boulder Food Group, Riverpark Ventures, Vanterra Capital, Nik Sharma, and Adam Turner
Company Website: https://stay.ai/
Software Category: Subscription Management Software
About the Company: Founded in 2021 by Gina Perrelli, Pierson Krass, and Taylor Cawiezell, Stay Ai, previously known as Retextion, aims to assist Shopify brands in developing and optimizing their subscription programs. Stay Ai developed a recurring commerce enablement platform for subscriptions, clubs, and memberships with loyalty tools, including an SMS chatbot, surveying, and rewards programs to help brands increase customer lifetime value. Currently, Stay Ai is used by approximately 300 Shopify merchants, including well-known brands like Vita Coco, Momofuku, and Snow.
Source: https://techcrunch.com/2023/07/25/stay-ai-shopify-brands-customer-retention/