Participants include Sandalphon Capital, Homegrown Capital, Groove Capital, and others.
What to Know:
- Minneapolis-based SaaS company ProsperStack has secured a $2 million Seed Round, bringing total funding to $2.35 million
- The round was led by Sandalphon Capital and included Homegrown Capital, Jason Calacanis' LAUNCH fund, Groove Capital, and Gopher Angels
- ProsperStack CEO and Co-founder Tony Sternberg said the new funds will be focused on scaling marketing, customer success, and development and sales operations
The Quote:
Jonathan Ellis, General Partner of Sandalphon Capital
"We're excited about the strong product and value proposition, and impressive list of customers the team has already been able to achieve with only modest funding. Now they can accelerate their product vision and scale to help even more customers."
The Full Story:
MINNEAPOLIS, Nov. 9, 2022 -- ProsperStack, a leader in cancellation flow software boasting the ability to reduce subscriber churn by up to 30%, announced today that they've raised a $2 million Seed round, led by Sandalphon Capital. This investment brings ProsperStack's total funding to date to $2.35 million, driving an impressive growth trajectory for the team of subscription industry experts.
"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.
Thanks to their comprehensive suite of low-code tools optimizing self-service cancellation flows for customers in SaaS, newspaper, digital media, publishing, marketing, advertising, IT & telecommunications industries, ProsperStack's number of subscribers is constantly increasing. Notable customers include Hootsuite, Roll20, SwingU, and Soundstripe.
"We're excited about the strong product and value proposition, and impressive list of customers the team has already been able to achieve with only modest funding," said Jonathan Ellis, General Partner of Sandalphon Capital. "Now they can accelerate their product vision and scale to help even more customers."
Other participating investors included Homegrown Capital, Jason Calacanis' LAUNCH fund, Groove Capital and Gopher Angels.
About ProsperStack
When it comes to revenue growth, having a high churn rate is like filling a leaky bucket. Stop wasting time and money on patches. Upgrade your bucket.
Meet ProsperStack: The only platform that automates and enhances subscriber retention experiences so you can keep the customers you've already earned.
ProsperStack is a low-code SaaS for subscription-based businesses. We're built to be a seamless solution that creates immediate return on investment with the easiest setup, the smartest support, the most integrations and the best optimization tools. By adding a few lines of code, billing systems are integrated with the drop-in cancellation flow and the entire retention process is automated.
We're subscriber retention done right.
To book a demo, visit our website at prosperstack.com.
