What do you do when you want to create a software-as-a-service startup, but it seems that everything has already been built? You build a product that helps existing SaaS startups. That's what ChartMogul is doing with its subscription analytics platform.
The company has just raised $ 2.2 million from Alven Capital, with the participation of existing investors, Point Nine Capital, and angel investors.
Many companies operate subscription businesses. Some of them are e-commerce subscription services, others sell access to a service. There's a reason why subscriptions are attractive right now – they tend to be predictable and retain loyal customers.
But analyzing all these numbers can be difficult. ChartMogul imports all your data and then creates a dashboard for all important measurements. You can keep an eye on your recurring monthly income, review your net cash flow, calculate the average revenue per customer, and generate a cohort analysis to examine the churn over time.
Of course, you can export data from your subscription billing service and process it with Excel. But ChartMogul goes even further with API integrations.
You can connect your ChartMogul account with Stripe, PayPal, Braintree, GoCardless and many other payment services. After that, ChartMogul will automatically retrieve all your payment data and process it. And if you use an obscure payment service or switch to a new provider, you can also manually import CSV files.
The service also allows you to associate names and orders with payment IDs. You can enrich your data with Intercom or MailChimp data, for example. In this way, you know who pays for what. And more importantly, you can also segment your customer base to target them with a personalized email to get them back, give them a promo code and more.
As ChartMogul is also a SaaS startup, I'm sure the startup is using its own product to get new users and maximize retention rates. Finally, ChartMogul also generates GAAP revenue reports. Your accountant will like that.
ChartMogul is free for small businesses and costs $ 100 per 1,000 customers a month once you generate more than $ 10,000 in monthly recurring revenue. With the funding round of today, the company plans to hire more people, open an office in the United States and launch new features.
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