Notable tech leaders back Magnify as software startup emerges with $6M in funding
New funding: Magnify, an enterprise software startup which will have operations in Seattle and Bend, Ore., has come out of stealth mode with $6 million in funding. The company is developing tools to help companies engage with software customers, and has backing from a high-powered array of Pacific Northwest tech executives.
All-star backers: Investors include Madrona Venture Group, Decibel Partners, and northwest SaaS executives, including: Bill Richter, CEO of Qumulo; Christal Bemont, CEO of Talend; Elissa Fink, former Tableau CMO; Jon Gelsey, former Xnor and Auth0 CEO; and Will Arora, CTO of Assurance.
It’s all about timing: Magnify’s tool optimizes onboarding and use of software. It automates the timing and sequence of customer interactions using AI and machine learning, engaging customers through timing actions such as emails or training videos and integrating with existing software products such as Salesforce, Marketo, Pendo and Gainsight. According to its website, the company aims to “transform your post-sales experience with automation.”
CEO and founder: Joshua Crossman has spent decades as a senior post-sales executive. Most recently he was senior VP of customers and operations at Chef Software, a Seattle-based automation technology company that was acquired last fall for $220 million by business application platform Progress. Crossman has also led teams at BrightEdge and QuinStreet.
“Customer Success and Product teams are doing heroic efforts to help customers adopt and succeed with their software, but the work is too manual and disjointed. Magnify automates critical steps in the customer lifecycle,” said Crossman in a statement. “I know I would have wanted this technology in my previous companies and am excited to bring this product to the teams that need it.”
Regional roots: Seattle-based Madrona Venture Labs incubated the company in partnership with Madrona managing director Steve Singh to develop the concept. Singh is the former CEO of Concur, which was acquired by SAP software for $8.3 billion. “Magnify solves a massive problem in the software industry, and I’m deeply excited about its potential to transform the customer lifecycle,” said Singh in the statement. Singh will join as chair of the board, as will Barry Crist, former CEO of Chef.
Testing and talent: Magnify is currently testing the product with early customers. It aims to make the product more available “in the coming months.” The company is building its team with hires in engineering, data science and product who are able to work in Seattle or remotely.