We are thrilled to share that Canvas is leading a $10M Series A investment in Smartrr.
At Canvas, one of the areas we’re most excited about is GTM software - software that helps businesses sell, understand, or engage with their customers in new and more thoughtful ways. Like our previous investments in Navattic (live demo software), OfferFit (a decision engine for marketing personalization), and Folloze (a B2B personalized marketing platform), Smartrr powers tools for brands to create, manage, and cross-sell subscriptions.
Smartrr’s growth comes at a time when businesses can’t afford to lose a single customer, while consumers themselves are projected to curtail spending. Yet we know subscription offerings are top of mind for DTC brands, with 75% expected to offer subscriptions this year and revenue from subscriptions forecasted to hit 18% of the overall DTC market.
Smartrr’s technology enables online brands to grow customer lifetime value by giving brands new ways to engage and serve their customers. When brands with an existing subscription business switched to Smartrr, they see a 130% increase in subscribers.
A Technology Platform for Customer Lifecycle Management
While Smartrr got its start in subscription management, we really see them as the leader in an emerging “post-purchase operating system” for DTC brands. Beyond subscriptions, Smartrr can power a brand’s rewards, loyalty, gifting, and referrals. Smartrr helps brands reduce and rescue churn at key moments in the brand/customer relationship by integrating these different product modules.
Smartrr is also powered by best-in-class technology. Smartrr’s Shopify integration allows for the flexibility to offer complex, customizable subscription offerings. Incumbents in this space frequently use legacy integrations, limiting the kinds of customizations brands can offer and preventing real-time inventory tracking + analytics for brands.
Smartrr consolidates 10+ separate Shopify apps into one integrated solution spanning subscriptions, rewards, referrals, analytics, bundles (build a box), passwordless login, upsells, memberships, social feeds, gifting, wish lists, add-ons, and tiered discounts. Purchasing these apps separately would cost a brand more than $5,000 a month, but through Smartrr, brands can access these tools for less than $500 a month.
A Leader with Deep Knowledge of the Customer Journey
As one of the first hires at Reonomy, Smartrr CEO and co-founder Gabriella Tegen deeply understands building and scaling a go-to-market organization. After hundreds of market research interviews with e-commerce founders, Gaby found that subscriptions were often their most significant pain point and a natural first product for Smartrr. Since we met her two years ago, we’ve been impressed with her ability to articulate a clear vision for a new software category while building and scaling her team.
We’re so excited to partner with Gaby and the entire Smartrr team in one of the most vibrant app store ecosystems we’ve seen. Find out how you can partner with Smartrr here. And if you’re building in the Shopify app ecosystem, please don’t hesitate to reach out!