Did you miss a session from the Future of Work Summit? Head over to our Future of Work Summit on-demand library to stream.
EverAfter, a Tel Aviv, Israel-based customer success platform, today announced that it raised $13 million in seed funding contributed by TLV Partners and Vertex Ventures, with participation from Benny Shneider, Zohar Gilon, and Amit Gilon. The proceeds will be put toward expanding the company’s workforce, CEO Noa Danon says, as well as growing EverAfter’s product footprint.
In the coming years, 89% of businesses are expected to compete mainly on customer experience, according to Gartner — a stat highlighting the importance of customer retention. Attracting a new customer is on average 6 to 7 times more expensive than retaining a current one, and the churn associated with customer onboarding and retention are estimated to reach $136 billion annually in the U.S.
Founded in 2020, EverAfter offers tools that companies can use to create hubs personalized for customers and embedded in existing products. The platform integrates with existing customer relationship management, project management, and service ticket tools, allowing users to update apps from Salesforce, HubSpot, and more through online dashboards.
As Danon, who cofounded EverAfter with Tal Shemesh, explained to VentureBeat via email, business-to-business companies typically have more than 25% of their workforce in customer-facing roles. Each day, they work with customers on activation, retention, and upselling, which entails manual labor that must be customized to meet the needs of each client. The output of this work comes in the form of documents, presentations, and emails, which are external to the company’s product and don’t integrate with internal tools like customer relationship management and business intelligence services.
“The name ‘EverAfter’ is inspired by the missing piece in the stories we’re often told in books and movies: after the exciting early part of a relationship — or in business, the deal is closed — comes a drastically different phase that’s often omitted from these stories: the long-term relationship phase. The customer is actually onboarding and using the product,” Danon said. “It is then the customer-facing team’s responsibility to ensure that the customer is indeed living ‘happily ever after’ with the product.”
Bolstering customer success
According to Danon, improving the onboarding experience is a key benefit of EverAfter’s web-based platform. Using prebuilt widgets, companies can “assemble” hubs with EverAfter that include all the relevant content, documentation, tasks, upcoming training sessions, KPIs, and value-added materials for customer onboarding. Information is fed into the hub via integrations with existing systems and apps companies already use for customer management, improving time-to-value.
“[EverAfter unifies] usage data coming directly from the company’s business intelligence system, their open support tickets, new feature releases updated by the marketing team, and their real-time KPIs,” Danon said. “By creating dedicated hubs for weekly customer meetings, customer success managers are able to present the customer with all the information they need in order to be up-to-speed with the status of the account, and ways they can improve their usage.”
Twenty-employee EverAfter has 30 paying customers including Taboola, AppsFlyer, and Verbit, which have created customer hubs now used by over 3,000 of their clients. The plan is to double the size of EverAfter’s workforce by the end of the year, according to Danon, particularly on the sales and engineering sides.
“[Our] main competition comes from the ‘default’ tools used [in customer success] situations: presentation software, spreadsheets, shared task boards, and of course email,” Danon added. “[But companies are realizing that] EverAfter [can] have a tremendous impact on the customer experience and employee engagement, [saving] large amounts of data and potential insights [from] being ‘lost’ rather than captured.”
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn More