Magnify, a software startup with Bend and Seattle ties, raised $6 million from investors after incubating with Madrona Venture Labs.
The seed investment includes Madrona Venture Group, Decibel Partners and numerous Pacific Northwest software executives including Elissa Fink, former CMO of Tableau, Jon Gelsey, former CEO of Auth0, and Christal Bemont, CEO of Talend.
The company’s software is being tested with customers now and the team is working toward general availability in the coming months.
Magnify is designed to help software companies after a sale is made. It automates different milestones along the customer lifecycle, such as emails for training and other interactions, with the goal of identifying where churn or further adoption within an organization may occur. It’s a no-code tool that integrates with customer experience products like Salesforce and Marketo.
“I’ve led hundreds of customer success professionals in my career, and Magnify is the solution that we have been waiting for. The vast majority of software revenue occurs after the first sale, and we need to bring modern AI solutions into this space,” said CEO Joshua Crossman, in a written statement. Crossman, who is Bend-based, has led teams at software makers Chef and BrightEdge and spent a decade at consultant McKinsey.
As part of this round Steve Singh, Madrona managing director and former Concur CEO, will join Magnify’s board as chairman. Singh worked closely with Crossman as the idea incubated at the Madrona Labs. Barry Crist, former CEO of Chef Software will also join the board.
“Magnify solves a massive problem in the software industry, and I’m deeply excited about its potential to transform the customer lifecycle," said Singh in a written statement. "Growth and value creation for software companies is directly tied to reducing churn and increasing product adoption, and the teams running those efforts need the benefits of the modern tech stack.”
The company, which is building a presence in Bend, is hiring across engineering, product and data science.
