Vitally, a leading Customer Success Platform (CSP), announced today that it closed $30 million in Series B funding to accelerate the company’s product innovation for B2B Customer Success teams and expand global reach. The round was led by Next47, with participation from new investors HubSpot Ventures and NewView Capital. Additional investors include Andreessen Horowitz (a16z), which led Vitally’s Series A round. Vitally will use the infusion of capital to bring innovative new features to the platform, hire product and engineering talent, and fuel global go-to-market expansion.
Vitally is the first CSP specifically designed for maximizing productivity, visibility, and collaboration. The current generation of CSPs and productivity tools each fall short of helping Customer Success teams to do their best work. Today’s CSPs lack critical project management and product reporting capabilities, while productivity tools do not integrate with essential sources of customer data located across the tech stack. These tools force businesses to either manage work out of a platform that is not designed for productivity or use separate platforms to manage customer data and daily activity. In either case, Customer Success teams are left unhappy and inefficient.
“Vitally is taking a new approach to Customer Success software,” said Jamie Davidson, co-founder and CEO, Vitally. “Vitally is the first Customer Success Platform to centralize all the capabilities you expect from best-in-class productivity tools with all of your customer data from across the stack. We’re thrilled by the support of Next47 and our other top-tier investors who recognize that Vitally’s Customer Success Platform represents the present and future of the Customer Success market.”
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Teams using Vitally operate with unparalleled efficiency enabling them to improve net revenue retention (NRR), complete more work, and deliver best-in-class customer experiences. A growing number of innovative Customer Success teams are partnering with Vitally for growth, including at market leaders such as Segment, Zapier, and Gorgias.
“Customer Success is more critical than ever for sustainable growth. It’s top of mind for every enterprise executive,” said T.J. Rylander, General Partner at Next47. “Vitally is doing more than reinventing Customer Success. They’re reinventing work. We strongly believe that Vitally will be the big winner in the market, driving massive growth for their customers.”
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Vitally experienced significant growth in 2022, reflecting the value it is providing to its customers and the growing imperative that companies maximize every interaction with every customer. Key 2022 growth metrics highlighting Vitally’s momentum include
- Annual recurring revenue accelerated by nearly 4x;
- Vitally’s customer base doubled in the last 12 months;
- To support its growth, Vitally expanded its team from 18 to 52 employees in 2022
“HubSpot and Vitally share a mission of making companies successful in every interaction with their customers,” said Brandon Greer, Director, Corporate Development & Head of Ventures, HubSpot. “Vitally’s productivity-focused approach to Customer Success is unique. Our investment and partnership with Vitally are of strategic importance to HubSpot, and we have only scratched the surface of the value we can deliver to the market and our customers.”