Stay AI Raises Additional Funds to Fuel Innovation in the Subscription Space

Stay AI Raises Additional Funds to Fuel Innovation in the Subscription Space

We’re thrilled to announce that in May of 2024 Stay AI raised $9M of additional funding led by Telescope Partners to support further innovation and bring new features to market for our customers. This brings our total capital raised to over $24M, following a successful Series A last summer. 

Founded to address the limitations of legacy subscription tools, Stay has migrated more than 500 merchants to our platform. The funding will be utilized almost exclusively to build new innovative products for Stay’s merchants so that we can continue to push the industry forward. 

So, what’s next for our customers?

Co-founders Gina Perrelli and Pierson Krass are excited to continue bringing first-to-market features to our merchants in 2024 including:

• More machine learning and AI to expand personalization across every customer touchpoint and to improve business outcomes with automated optimization.
• Expansion of subscriber rewards and loyalty, to continue to give merchants new options to engage with their subscribers, proactively reduce churn, and build community. 
• Acquisition tools, to help brands acquire more high-value customers and activate recurring revenue programs in new and unique ways. 

Harnessing AI for Unmatched Retention Strategies 

Stay’s differentiator continues to be our AI-powered features to reduce churn and improve AOV. Trained on brand-specific data sets, these models provide customized and actionable data and performance optimization across key retention tactics. Top Shopify brands such as Armra, Olipop, Lemme, Tru Earth, Magic Spoon, and more, leverage this data in their programs to drive sustained growth. 

Our models have been perfected over the last three years, and as a result, Stay provides the most accurate churn-risk forecasting available for brands. Typically, our AI-powered features beat human settings and manual testing by 20-30%. In the last 12 months, we saved over $150m in lost revenue for our merchants.