Userpilot, a product-led platform built for SaaS companies, has raised $4.6 million in its latest funding round led by Silicon Badia with some partners, namely ScOp Ventures and 500 Global. This new funding round follows its previous round, in which it secured $1.2 million last year. The platform was designed to aid companies in achieving higher user activation, engagement, and retention rates by allowing them to personalise in-app onboarding experiences for users.
In a statement, the CEO of Userpilot, Yazan Sehwail, told journalists that they intend to use the latest funding to construct new features, which will help the companies reduce customer support and engineering costs more.
The CEO started his entrepreneurship journey in 2013 after his college education; he developed enterprise web software intended for the likes of BMW, a business that inspired his Userpilot strategy. In a statement:
“During that time, we worked on various projects with companies such as BMW, and the idea for Userpilot came while working on one of our then-clients. We would spend a lot of time and resources on building features, only to find later that they were rarely used, and the client would have to deploy a lot of human resources to educate users about them.
The idea behind Userpilot was to give the product team (non-technical) the ability to create no-code in-product experiences that would contextually introduce users to features based on their behaviour”.
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The CEO also added that the startup’s increased capacity to customise experiences through a no-code editor helps product teams tailor-made content that feels and looks native to their applications. In a statement, he said:
“With Userpilot [companies can also] segment users based on their attributes and behaviour. This allows product teams to contextually target users when it makes the most sense to do so”.
Sehwail stated that presently Userpilot has over 700 customers, which are spread all over the world, among which include: UIPath, Oracle, McGraw Hill, and Phocas. Amongst its customers also includes GrowthMentor, which previously claimed to experience an 83% reduction in its support ticket after using Userpilot’s onboarding tools.
Also, in a statement, the founding managing partner of Silicon Badia, Namek Zu’bi, said:
“At Silicon Badia, we have always been big believers in the product-led growth (PLG) movement where the product drives user acquisition, expansion, conversion, and retention. Having invested in earlier PLG success stories like Amplitude (NASDAQ: AMPL), we believe that Userpilot is ushering in the next generation of PLG tools”.
SaaS and its top 10 benefits
SaaS is an application distribution model where cloud providers host apps and make them available to users through the internet. The adoption of SaaS has been rapidly increasing over the last decade outside the IT industry, and now with the cloud burst at its tipping point, they are giving their on-premise counterparts a run for their money. The main reason businesses adopt SaaS is that it aids your businesses in maximising costs while being highly flexible. Here are the sectors where SaaS is very popular: Mobile application, HR management software, Payroll and accounting software, Resource planning software, CRM software, and Performance management.
There are numerous benefits one’s business can incur if the owner moves the infrastructure to the cloud, which means the owner uses SaaS. Here are the top benefits of SaaS for your businesses:
Reduction of Costs: If one decides to use SaaS for their business, its many benefits can be obtained. Firstly, SaaS eliminates the upfront costs the user has to pay for purchase & installation, and ongoing costs like maintenance won’t be necessary again. SaaS apps are downloadable and maintenance-free for users, meaning the owner doesn’t need to spend much money on hardware and resources.
Secondly, the SaaS pricing model, which is pay-as-you-go, allows businesses to reduce costs as they only pay for the software they are using and do not waste resources on licenses they don’t use.
SaaS is very effective for small businesses as it provides them access to high-powered software, which is expensive through conventional methods, and most owners may not be able to afford it. SaaS platforms come with a subscription-based nature that eliminates the expensive nature of such software.
It is a deployment model that handles infrastructure complexities and provides business apps without asking for resource-consuming hardware as the vendor handles that and lets you divert your resources to other processes.
Reduces time consumption: A famous saying says “Time is money”. SaaS helps in saving time as installation only requires a stable internet connection and the acquisition of a log-in. The maintenance responsibilities that one incurs when using traditional software are shifted to the vendor when one uses SaaS, eliminating the time one would spend upgrading the software.
Flexibility: Since the software is hosted externally by the SaaS application development company, it enables businesses to change their plan without giving any advanced warning. Also, the software can be accessed from anywhere worldwide, given internet use. It enables users to access their data anytime and work from anywhere, making the situation easier for those who work from home and those who operate on multiple sites.
Other benefits include high compatibility and higher security. These outlined benefits are what give business owners the guarantee that SaaS is the future of computing, and most businesses prefer to use their “rent” software than pay for hardware and traditional software licenses. Also, the flexibility of SaaS benefits enterprises as it helps them grow.