SAN FRANCISCO, CA, SEPTEMBER 7, 2023 – Gainsight, the world’s leading Customer Success platform, continued to showcase strong momentum in the first half of its fiscal year, ending July 31st. Growth was driven by increasing demand for Gainsight Essentials, the company’s purpose-built offering to help businesses start and scale with its core Customer Success product for under $2k per month and with onboarding in as little as two weeks. Since launching in March 2022, nearly 300 companies have signed up for Gainsight Essentials.
Gainsight added several high-profile customers over the last two quarters, including more than 30 who switched from starter Customer Success products. This continues a trend that’s seen more than one customer per week moving to Gainsight over the past 24 months. Notable new customer logos in the first half of the fiscal year includeCleverbridge, CloudApp, Fusion Medical Staffing, Litmos, Parachute Health, OneSpan, Onfido, Safe Security, SAE International, Sisense, Spear Education, Toro, and TrustRadius.
In May this year, Gainsight announced several new generative AI product features at its 10th annual Pulse Conference held at San Francisco’s Moscone Center. The event was attended by more than 3,000 Customer Success leaders. And in July, the company completed its acquisition of Northpass, the leading customer education platform. This further solidifies the company’s position as the industry’s only true Customer Success Platform capable of serving the entire post-sales customer journey, from product adoption and high-touch customer success management to self-service customer communities and customer training.
“In today’s economy, acquiring new customers is more difficult and expensive than ever, making customer retention and expansion the primary growth driver for not only every SaaS company but any company with a recurring revenue model, no matter their stage or size. Plain and simple, everyone from CEOs and CFOs to investors and shareholders are looking at Net Dollar Retention (NDR) as the modern-day metric to gauge overall success and valuation,” said Nick Mehta, CEO of Gainsight.
Gainsight’s platform has also gained favor with CFOs and CIOs focused on vendor consolidation, as proven by a more than 25% increase in the number of customers leveraging more than one of its products in the first half of the year.
“Today more than ever, Customer Success leaders need to be able to clearly prove and articulate the value of their team and resources and not be looked at as a cost-center,” said Kellie Capote, Chief Customer Officer at Gainsight. “Every CFO and executive team—including our own—are scrutinizing spend across their organizations, starting with software. Gainsight has been fortunate to support the market with tools such as our Essentials offering. And now, our M&A strategy and innovation around generative AI is helping companies significantly reduce their CS spend and resourcing by giving them one, AI-powered platform to make their entire post-sales journey more efficient and effective.”
Additional highlights from Gainsight’s first half of FY24 include:
New Generative AI Customer Success Capabilities
Gainsight announced several new generative AI features at its annual Pulse conference in June. The new capabilities are part of the company’s Horizon AI feature set, launched in 2021, and include Customer Cheat Sheet, an AI-generated narrative customer summary; Survey Takeaways, an AI-generated list of the key themes running through survey responses; Smart Search, an AI-powered tool that uses natural language queries to find the right information and suggest the right action; and Setup Assist, an AI-powered interactive chat that helps automate the customer journey.
Pulse Conference Turns Ten and Expands to More Cities
Gainsight’s Pulse conference turned ten this year, once again gathering the world’s largest community of customer-centric leaders and practitioners for three days of networking and education on a range of topics on customer success, product management, community, and customer education. Growing demand and enthusiasm for Pulse content also led Gainsight to announce three additional events coming this Fall—Pulse Encore in New York City and Austin, and Pulse Europe in Amsterdam.
Thought Leadership with New Research and Frameworks
Gainsight released its comprehensive The Evolution of Customer Success report, which included data from North America and Europe on Customer Success capacity planning, compensation, and new strategies such as Digital Customer Success and Community Management.
The company has also seen remarkable success with its thought leadership in Digital Customer Success, including the release of a Maturity Model, an ongoing webinar series, and keynote presentations. CEO Nick Mehta and CCO Kellie Capote are also working on a book on Digital Customer Success which is slated to launch at Pulse, 2024.
The Software Report’s Top 100 Software Companies of 2023 Award
Gainsight was ranked #1 in the Customer Management category and ranked #10 overall in The Software Report’s “Top 100 Software Companies of 2023” Awards. The annual award recognizes industry leaders based on “a multitude of factors, including product functionality, customer satisfaction, corporate reputation, innovative capabilities, organizational depth, ESG involvement, and long-term viability, among numerous other criteria.”
Gainsight’s Product Experience Solution Earns Multiple Awards
Gainsight Product Experience solution was named the winner of multiple awards from TrustRadius, a leader in enterprise software reviews. In its Winter 2023 Best Of competition, TrustRadius honored Gainsight PX with awards for Best Relationship, Best Value for Price, and Best Feature Set in the Product Analytics category. The award winners were determined by product reviews submitted to TrustRadius via its website between July and December, 2022.
About Gainsight
Gainsight’s innovative platform helps companies of all sizes and industries drive durable growth. It offers a powerful set of customer success, product experience, and community engagement solutions that together enable businesses to scale efficiently, create alignment, and put the customer at the heart of innovation. With Gainsight, it’s never been easier to drive acquisition, increase product adoption, prevent churn, and grow with renewals and expansion. Learn how leading companies such as GE Digital, SAP Concur, and Box use Gainsight at www.gainsight.com.
