
ChurnZero, a startup with a platform that aims to help subscription-based companies keep customers, raised $2.5 million in new funding, according to cofounder You Mon Tsang.
Grotech Ventures led the round, with participation from Middleland Capital. Existing investors at the Center for Innovative Technology (CIT)and Charlottesville Angel Network were also in on the round.
The Arlington, Va.–based company was founded in 2015 by Tsang, a four-time founder, and CTO Mark Heys. Both have experience starting and building Software as a Service (Saas) products, and saw the impact of churn, or subscription cancellations. An entire category known as customer success is designed to help companies retain customers.
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