[SAN FRANCISCO – Dec 7, 2022] SilkChart, which helps teams turn product data into revenue growth, has launched from Y Combinator and closed $5.2M in Seed funding. It will use the capital to accelerate its growth in three key areas: expanding product capabilities, hiring technical talent, and expanding its enterprise offering.
1 out of 4 CMOs consider marketing data and analytics to be a top capability gap, and as a result, spend on marketing tooling is projected to grow at 19% CAGR 2022-2030. Despite this need, most marketers are reliant on data analysts to understand ROI of their ad spend and drive growth.
In an environment of layoffs and downsizing, SilkChart empowers marketers to drive growth without having to hire expensive data scientists. It does this by telling them whether their ads will bring in high value users. For example, SilkChart can tell a food delivery marketer whether an ad campaign will bring in users who order often, or users who will only order once.
The CEO, Andreea Francis, previously led Retention (Growth) at Instacart, while the CTO, Matt Rajcok, is a two time Y Combinator founder. They are leveraging their past experience to pursue their vision of empowering companies of all sizes to put growth on autopilot.
Investors include Y Combinator, SoftBank, Dentsu (one of the largest advertising agencies globally), Harlem Capital, Global Founders Capital, Garage Capital, Amino Capital, and Asymmetric Capital Partners. Angel investors include Anne Raimondi (COO of Asana), Kevin Moore (early investor in Amplitude), and founders/executives from Instacart, Asana, Coinbase, Twitter, Angi, Getaround, Ramp, and more.
SilkChart is the first product-led growth platform for marketers, helping them acquire high value users. It intelligently combines product usage and marketing data to uncover which channels, copy, and content maximize revenue and retention.