AI-Powered customer retention analytics tool ‘Retentics’, has raised $1.66million
Fridays Lab, operating the Customer Retention Solution Retentics, has raised $1.16 million in Pre-A round from Silicon Valley based investment.
Oct 18, 2022
AI-Powered customer retention analytics tool 'Retentics', operated by Fridays Lab, attracted $1.16 million in pre-Series A investment from Primer Sazze Partners and Valon Capital.
Retentics is an AI-based business analytics tool that enables any company to manage customer journeys and retention without data analysis personnel or development resources. By uploading transaction data files, AI identifies customer characteristics, produces effective indicators for target selection, predicts demand, and induces repurchases by combining them. It is a SaaS based on marketing terminology commonly used abroad and is available worldwide without language barriers.
Fridays Lab changed the service name to Retentics, released an updated version with improved scalability and universality in the second half of this year. Retentics has diversified retention criteria, purchase tracking standards, and enhanced dashboard analysis features. Through improved recommendation system functions, it validated utility by attracting up to 2.5 times more sales for customers. Retentics is currently used in various industries, including e-commerce, platform services, and other industrial groups in Korea.
Fridays Lab plans to enhance service performance and actively expand into overseas markets. It also plans to actively recruit personnel from various fields to achieve continuous growth. In May of this year, it was selected for the TIPS (Tech Incubator Program for Startup) program hosted by the Small and Medium Business Administration and secured an additional KRW 500 million for two years.
The lead investor, Lee Ki-ha, CEO of Primer Sazae Partners, said, "In today's business environment, where designing customer experiences and keeping them for a long time is crucial, Retentics is a versatile service that accurately targets the retention market." He added, "As it has secured major domestic conglomerates as customers and proven its effectiveness, it is expected to quickly gain prominence in the global market." Lim Young-jae, CEO of Fridays Lab, said, "Retentics is a versatile service that raises customer retention rates in the fiercely competitive e-commerce market."
Written by: Ssong kim
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