Announcing our $1.3M seed round
We made Croct generally available in early 2020, after a few years of developing our product and a few months in private beta mode. As is the case when you introduce something new, we weren't sure what would happen. You don't quit your job and start a company unless you believe you're serving up a solid solution to a real problem. At any rate, releasing anything publicly for the first time is always nerve-racking.
Our goal was to create a product that helps marketing and product teams deliver 1:1 experiences in a user-centric world. Since then, that initial concept has evolved into what we call a Personalization Management System (PMS): a fully integrated platform that enables teams to deliver personalized and relevant experiences to customers at scale, driving growth and profitability.
Over the past months, we closely watched how our customers were using our product, helping us shape it precisely for their needs. It's incredible how your mindset completely changes just by observing someone else pilot the product you've carefully built from scratch. But, sometimes, it can also be harrowing. It can break, behave in a way you haven't predicted, or fail with an edge case you didn't see before.
A few days ago, we reached the milestone of 2 billion processed events within 100 million sessions. Some of our customers have already surpassed the mark of a 500% increase in sales. Others have reached a 70% decrease in CAC. While this number is exciting for an early-stage data startup, we know it isn’t even the start of the journey we've planned.
Today, we're more committed than ever to our mission of building the internet's personalization engine and bridging the gap between technical and marketing teams. And to help us do that, we're thrilled to announce that we've just closed our Seed Capital round of $1.3 million, led by Astella Investments.
Astella shares several qualities with us that made us especially happy with this deal. With their strong focus on partnering with product-led companies, shared and contagious "roll-up-the-sleeves and get it done" attitude, and strong track records of success in the B2B SaaS space, we are excited and humbled to get their investment and support.
We are further delighted to have Big Bets, Barrah, Nelson Mattos (former Vice President for Product and Engineering for Europe and Emerging Markets at Google, and also former Vice President of Information and User Technologies at IBM), Felipe Almeida (co-founder at Zup Innovation), Flavio Sznajder (Senior Partner at Bogari Capital), José Ricardo Brun Fausto and Tulio Ribeiro participating in our seed round. Each of these investors has an impressive résumé in B2B and tech companies and brings a firsthand understanding of what it takes to build and scale successful businesses. On behalf of the entire Croct team, we wish a very warm welcome to all.
With the partnership of this experienced group, we've never been more confident in our ability to build out a world-class team, accelerate Croct's growth, and capitalize on the enormous opportunity to help brands deliver personalized experiences to their customers each and every day.
Today is the start of an exciting new chapter in the Croct story. But, we also know it's another single step in a very long journey — one we're happy to be traveling with our growing team, our fantastic users, and now, a stellar group of investors.
Thanks to the entire Croct team, our advisors, and investors who are helping us to create the internet's personalization engine. We genuinely appreciate your support and couldn't have gotten to where we are today without you! A special thanks to the first Crocter to join our team, Luiz Ferraz, who helped bootstrap Croct in its early days. We could not have done this without your help.
Finally, we give a special thanks to each of our early customers. We are grateful to each of you for trusting us with your business and joining us so early on this adventure. We couldn't have come this far without you and will never let you down.
If you're a developer, passionate about collaboration, and interested in working for a fast-paced, customer-obsessed company, we'd love to hear from you :)