Many business experts say that the key to building a lasting business is to retain customers.
The people behind Tingono Inc. want to help companies do just that. The startup, which is based in San Francisco and Seattle, offers software that uses machine learning to predict when companies might lose particular customers — known as churn in the sales business — and to advise them on the best times to offer new services to those customers.
"Businesses spend an exceptional amount of time and revenue in customer acquisition and onboarding, but they often miss the signals that indicate when those customers may churn or are ready for expansion," Parry Bedi, Tingono's co-founder and CEO, said in a news release.
Tingono has some new funds to boost its own business. On Tuesday, the startup announced it's raised $6.7 million in seed funding in a deal led by Foundation Capital.
Here's more on its new round and other seed funding news from the past week:
Automate Medical Inc. (dba Flexpa), San Francisco, $8.5 million: General Catalyst invested in this developer of a service for sharing medical data and patient health information.
RapidFort Inc., Sunnyvale, $8.5 million: Felicis Ventures led the round for this cybersecurity software provider. ForgePoint Capital, Bloomberg Beta, GFC, Plug & Play Ventures and GIT1K Club also invested.
Tingono Inc., San Francisco and Seattle, $6.7 million: Foundation Capital led the round for this provider of a service that uses machine learning to help companies retain and expand their business with customers. Pathbreaker Ventures, Xfund and Flying Fish Partners also invested.
Ruby IO Inc. (dba Nue.io), San Francisco, $6 million: Information Venture Partners led the round for this provider of sales software. NextWorld Capital, SVTech and Bluefish also invested.
Xip Technologies Inc., San Francisco, $5 million: Jomayra Herrera led the round for this provider of software for those who offer online instruction, lessons or coaching. Jeff Weiner, Mark Williamson, Benjamin Grubbs and Bertelsmann Digital Media Investments also invested.
Learnfully Inc., Redwood City, $2 million: Learn Capital invested in this provider of tutoring and coaching services for neurodivergent children and their parents. Goodwater Capital, Incite.org, Figure Eight Investments and Divergent Investments also invested.
