A Delaware startup with a predictive platform for customer success teams has raised a $2.5 million seed round.
Zapscale is founded by Manasij Ganguli and Mausmi Ambastha, the duo's second startup. They previously founded Threadsol in 2013, an apparel tech firm that sold for $12 million in 2018 to Coats Global Services, a $1.5 billion company. Wilmington-based Zapscale currently has a headcount of 25 and 23 of those employees were with Ganguli and Ambastha with Threadsol.
The funding on the seed round comes from Blume Ventures, Veda VC, Java Capital, 100xEntreprenuers, T2D3 Capital and Arka Venture Labs.
Ganguli and Ambastha had gone their separate ways, finding other corporate jobs after selling Threadsol. The two were eventually drawn back to the challenge of getting a startup off of the ground.
"We wanted to do it again, you enjoy the entire journey of innovation and creation," Ambastha said.
The platform was brought to market in January, and already counts 30 customers. It's designed specifically for business-to-business, software-as-a-service companies and its services are focused specifically on those that are small to midsized, like startups and early-stage companies. It tracks the financial health of customers using 40 different indicators, and also uses AI technology and standardized data to analyze tendencies within customers, like which would be prone to churn. Additionally, it provides customer success teams with 50 pre-made playbooks to build strategies and increase retention.
The $2.5 million seed round will go toward further building out the technology, specifically its AI and also amplifying marketing, said Ambastha, the COO. Zapscale does not yet charge its customers for its product, but will begin to do so in the next month. Plans range from $249 to $299 per month. From there, the startup expects to see fairly rapid growth. Ambastha thinks headcount could double by the end of 2024 and she said the company is looking to raise a Series A in the next year.
"The market is in need of this product and the biggest signal that I have is, within a few months, we have 30 companies interested," Ambastha said. "We really have to plan how we're moving forward, how we are going to go about it. We have lots of other companies coming too. The [customer service] tech market is going to grow as big as marketing tech. That is the speed I think [customer service] is maturing, and the industry is actually in need of tools that can solve those problems."
Ambastha and Ganguli raised $3.5 million across seed and Series A rounds with Threadsol, which used AI to optimize usage and costs of fabric to reduce waste and expenses.
