AI-powered Stay Ai helps Shopify brands reduce cancellations and increase customer lifetime value through its subscription platform and predictive analytics.
Stay Ai, founded in 2021 by Gina Perrelli, Pierson Krass, and Taylor Cawiezell, has emerged as a game-changer for Shopify brands seeking to enhance their subscription programs and increase customer retention.
The company offers a recurring commerce enablement platform with loyalty tools, including SMS chatbot, surveying, and rewards programs.
The platform is designed to address the common issue of customers abandoning their shopping carts and canceling subscriptions around the time the next payment is due.
According to Stay Ai’s CEO, Gina Perrelli, the highest cancellations often occur between a customer’s first and second orders. To combat this, Stay Ai leverages AI-powered predictive analytics and machine-learning models through its Experience Engine, empowering merchants to make data-driven marketing decisions, such as A/B testing.
By leveraging Stay Ai’s tools, brands have seen remarkable results. For example, one of Stay Ai’s clients achieved a 35 per cent increase in subscriber revenue within just 90 days of implementing Stay Ai’s platform.
Since its launch a year ago, Stay Ai has gained traction, with approximately 300 Shopify merchants, utilising the platform. The company’s revenue has experienced rapid growth, pacing 10 times higher than in 2022.
To support its expansion and innovation efforts, Stay Ai recently secured US $ 15.1 million in Series A capital. This funding round included US $ 8.6 million led by Telescope Partners. Additionally, a previously undisclosed US $ 7.5 million in funding was also raised.
Early results have shown that average A/B tests on the platform lead to around 20 per cent to 30 per cent churn reduction, and incorporating upsells further improves these outcomes.
As Stay Ai continues to offer valuable solutions for Shopify brands seeking to improve customer retention and lifetime value, the company’s position in the market is likely to solidify, making it a notable player in the e-commerce tech space.
