Stay Ai raises $15.1 million to develop subscription and loyalty platform for Shopify brands
Stay Ai, a customer loyalty operating system for Shopify brands, has raised a $15.1 million Series A, the company's first funding announcement since launching in October 2021.
This consists of an $8.6 million investment headed up by Telescope Partners, with participation from Boulder Food Group, Riverpark Ventures, and Vanterra Capital.
Previous investments total $7.5 million land were led by Watchfire Ventures, alongside the likes of Nik Sharma (Sharma Brands) and Adam Turner (Postscript).
Stay Ai is founded and led by Gina Perrelli (CEO) and Pierson Krass (President), who co-founded Lunar Solar Group in 2018, an e-commerce agency bootstrapped from $0 to $12 million in ARR in under four years.
With its ExperienceEngine solution, brands can apply performance marketing tactics to their subscription programmes to manage and personalise customer lifecycles.
"After building subscription and retention programmes for 100+ brands, it felt crazy to me that we A/B test every other channel like email or SMS, but with loyal subscribers, we just set it and forget it," says Perrelli.
“E-commerce brands urgently need dependable, higher margin revenue, and subscription programs were ripe for innovation," says Krass.
"The first half of 2023 was all about integrating proprietary machine learning models into our platform, both for more personalised experiences and to automatically improve outcomes. Next, we're focusing on a variety of never before seen tools to help brands better reward and retain customers."
"Stay Ai puts brands and their consumers first and we're confident it will become a leading subscription and loyalty solution," says Amit Parekh, Principal at Telescope Partners.
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