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Subsets helps subscription businesses reduce churn with 'retention experiments' and explainable AI | TechCrunch

Feb 27, 2024 - techcrunch.com
Danish startup Subsets has developed an AI-enabled platform to help subscription-based businesses reduce churn and retain customers. The platform uses explainable AI to predict which subscribers may be about to cancel their subscriptions and suggests strategies to keep them. The company, founded in 2022, has already secured customers such as the New York Times’-owned Athletic and Danish newspaper Børsen. Subsets recently raised $1.65 million in pre-seed funding led by Nordic early-stage VC Upfin and Y Combinator (YC).

Subsets' platform is currently focused on the digital media vertical, including digital publishers, streaming platforms, subscription apps, and telecoms. The platform connects to a company's internal systems to gather subscriber data and presents it in an easy-to-understand format. It allows non-technical teams to run retention experiments to see what actions might lead a customer to stay. The successful strategies are then automated. The company plans to expand its use case to other digital consumer subscriptions in the future.

Key takeaways:

  • Subsets, a Danish startup, is using AI to help companies reduce churn and retain subscribers in their subscription-based business models.
  • The company's AI platform identifies subscribers who might be about to cancel their subscriptions and suggests strategies to retain them.
  • Subsets has recently raised $1.65 million in pre-seed funding led by Nordic early-stage VC Upfin and Y Combinator (YC).
  • While the platform can be applied to any subscription business, it is currently focused on the digital media vertical, with customers including the New York Times’-owned Athletic and Danish newspaper Børsen.
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