- Customer training management (CTM) company Strigo has raised $2.5 million in a seed round of funding
Strigo — a customer training management (CTM) company that powers product training — announced it has raised $2.5 million in a seed round of funding led by Hanaco Ventures with participation from Greycroft. Ever since Strigo launched in 2017, the company has been at the forefront of the customer training industry.
Training has become a driver for customer success, according to a report by Technology Services Industry Association (TSIA). TSIA’s research also found that trained customers are 12% more likely to renew a service contract.
Strigo is meeting this growing market with a unique focus — which is by powering excellent training. Strigo’s cloud-based platform was founded on a methodology of ‘learning by doing.’ And to date, Strigo has delivered over 1.5 million hours of training for industry-leading clients including Docker, Elastic (ESTC), and VMware (VMW).
Strigo’s platform is compromised of a suite of hands-on pedagogical tools and is easily customized to deliver intuitive and effective product learning. These tools are built for versatility as clients adapt training to meet the ever-changing needs of customers.
When a customer is engaged, they develop a deep relationship with the product. And all of the company’s metrics are pointing upwards with Strigo’s clients reporting increased customer satisfaction and retention along with accelerated product adoption.
“Strigo is the next generation in customer success. In today’s subscription economy, you must ensure customers continue to benefit from your product,” said Strigo CEO and co-founder Nevo Peretz in a statement. “We’ve seen customer training evolve from being a one-time event into a continuous process, addressing different expectations throughout the customer journey. Our clients harness Strigo to deliver active, engaging learning, choosing the correct modality to match their customers’ needs.”
Strigo’s clients have been using onboard new customers and to train existing customers on product updates — which improves their level of expertise and allows customers to ‘try before they buy.’ And Strigo’s emphasis on the training experience was inspired by the experience of both of the companies founders Amit Cohen and Ben Shoval. Previously, they worked as IT consultants at Fewbytes.
Fewbytes had provided in-person product training. And as the company grew, its hands-on approach was not able to scale. At the time, remote platforms were not available and it couldn’t substitute the authentic and interpersonal environment needed for effectively teaching complex products.
Peretz is the former head of business development for Monday.com. And the CTO of Strigo is Daniel Wolf — who is a former manager of Oracle’s cloud training platform.
“Strigo’s technology transforms the way companies onboard and train their customers,” added Pasha Romanovski, co-founder and general partner at Hanaco. “We see most of Strigo’s clients grow and use the platform across different parts of the organization. I believe this reflects a trend of how important customer success is throughout an entire SaaS organization.”
With this round of funding, Strigo team plans to expand the platform, develop new product capabilities, and expand into new markets.
“Strigo’s product redefines how enterprise companies deliver corporate learning and customer training,” explained Will Szczerbiak, a principal at Greycroft. “Today, enterprises tend to patch solutions together when training and the resulting experience is clunky and inefficient. Strigo has a terrific opportunity to become the ‘Training Cloud’ by merging training into one platform, creating a new way for enterprises to delight customers and differentiate.”
