Narvar, a startup that enables companies to better engage with customers after online purchases, said it has raised $10 million.
Narvar provides companies with software that improves the post-purchase experience. That can include a better interface when it comes to shipping, more detailed text updates, and then of course options to return products and buy new ones. Those updates can even also be incredibly granular, down to where storms are halting packages, CEO Amit Sharma said. The goal, he said, is to make sure customers stick around instead of having to acquire new ones.
There’s a good reason for that: it’s cheaper to hold onto a customer post-purchase than it is to acquire a new one, Sharma said. Prior to starting Narvar, Sharma spent a few years managing the delivery experience for Apple.com, and before that managing supply chains at Walmart. Using tools to improve the post-purchase experience can improve customer retention by 10 times, he said. An improved post-purchase experience can also reduce overhead like support call volume.