Software is changing the way most businesses deliver value to their customers. When it comes to customer onboarding, today 70% of large and midsized businesses still manage their processes by email, Excel spreadsheets, and non-collaborative tools, such as MS Project1.
As an industry, Customer Onboarding has just recently been defined in Software; the market in Software is currently $225M and sits within the more significant $850M Customer Success Software market. The onboarding category is fast-growing at over 25% YoY2. In our view, it is becoming clear that a successful customer onboarding process is imperative to customer retention.
TaskRay, an enterprise customer onboarding solution, caters to customers with high-touch and complex onboarding processes, so they may engage with multiple teams while still creating a cohesive experience.
Sitting within Salesforce, TaskRay’s offering is customizable to its customers. It helps fit individual needs, while still ensuring a robust and seamless process for the end-consumer and highlighting the importance of their business to the company. TaskRay’s goal is to ensure the optimization of resources, the increase of the onboarding teams’ capacity, and the systematization of customer interactions, all of which increase retention and satisfaction.
Next Coast ETA is thrilled to announce our investment in TaskRay, alongside Sam Swan and an impressive syndicate of investors. Working with Sam has been a pleasure for our team. We believe his impressive operational experience and innate determination give him all the makings of a very successful CEO.
Alongside Sam’s skillset, our firm will provide expertise in software, resulting from synergies with the venture side of the Next Coast house and our extensive technology network. Needless to say, we are looking forward to participating in TaskRay’s success!
(1) (2) Statistics and market sizing metrics provided by TaskRay.
This does not constitute an offer to sell, or a solicitation of any offer to buy any securities or investment advice, nor is it intended to be a description of all material factors an investor should consider before making any investment.