Bain Capital’s venture arm has led a $20m Series B round for customer retention analytics specialist Gainsight, bringing its fundraising total to $30m.
Existing backers Battery Ventures and Summit Partners also participated in the round, which follows the company’s $9m Series A raised in April this year.
The company, hose clients include Angie’s List, Castlight Health, Informatica and Marketo, said it will use the funds to step up its engineering, sales and marketing efforts.
Bain Capital Ventures managing director Ajay Agarwal said, “Due to increasing competition, every business in the world has to rethink and prioritize their focus on customer success.
“Gainsight is the clear leader in providing a SaaS solution to manage this vital cross-functional initiative. While marketing automation helps nurture leads and sales, force automation streamlines the sales pipeline, Gainsight’s solution uniquely provides a 360-degree view of your customers.
“We fundamentally believe every business will require Gainsight’s Customer Success Management platform to reduce churn, increase cross-sells/up-sells, and improve customer satisfaction.”
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