What do you do when you want to create a software-as-a-service startup but it feels like everything has been built already? You build a product that helps existing SaaS startups. That’s what ChartMogul is currently doing with its subscription analytics platform.
The company just raised $2.2 million from Alven Capital, with existing investors Point Nine Capital and angel investors also participating.
Many companies run subscription businesses. Some of them are e-commerce subscription services, others sell access to a service. There’s a reason why subscriptions are appealing right now — they tend to be predictable and foster a loyal customer base.
But analyzing all those numbers can get tricky. ChartMogul imports all your data and then creates a dashboard will all the important metrics. You can keep an eye on your monthly recurring revenue, look at your net cash flow, calculate the average revenue per customer and generate cohort analysis to look at churn over time.
Sure, you can export data from your subscription billing service and process it with Excel. But ChartMogul goes one step further with API integrations.
You can connect your ChartMogul account with Stripe, PayPal, Braintree, GoCardless and many other payment services. After that, ChartMogul will automatically retrieve all your payment data and process it. And if you’re using an obscure payment service or you switched to a new provider, you can also manually import CSV files.
The service also lets you associate names and orders with payment IDs. You can enrich your data with Intercom or MailChimp data for instance. This way, you know who is paying for what. And more importantly, you can also segment your customer base to target them with a customized email to make them come back, give them a promo code and more.
As ChartMogul is a SaaS startup as well, I’m sure the startup uses its own product to get new users and optimize retention rates. Finally, ChartMogul also generates GAAP revenue reports. Your accountant is going to love this.
ChartMogul is free for small companies and costs $100 per 1,000 customers per month once you generate more than $10,000 in monthly recurring revenue. With today’s funding round, the company plans to hire more people, open an office in the U.S. and launch new features.