Product lifecycle platform Clyde has announced it raised $25 million in Series B funding and $16 million in working capital in a funding round led by investors Headline, Vulcan, Spark Capital, and Crosslink. The platform aims to help product merchants maximize revenue and customer loyalty with customizable product lifecycle programs.
Clyde aims to use the new funding as a way to help expand its product capabilities to include greater customer relationship-building tools. By helping merchants discover more about their customers’ buying habits, Clyde can help its users drive revenue and attachment rates.
The $41 million in new resources will also be used as a way to jumpstart the platform’s expansion into new markets and industries. This expansion will be fueled by international scaling and the arrival of new talent.
“Looking at the market, there is an inherent gap in the product lifecycle — where the purchase of a product and the post-purchase experience of that product are disconnected,” said Mathias Schilling, co-founder at Headline.
“By building out a complete product that addresses this void, Clyde is solving a critical need for everyone involved in the transaction. That vision and the company’s incredible team are just two of the reasons we are excited to partner and invest in Clyde.”
Since the company was founded in 2017, it has focused on helping merchants deliver meaningful customer experiences and extended warranty products. Users are equipped with the tools to respond to any and all customer inquiries and product issues.
Over 300 brands around the world such as Chili, Barnes & Noble, SharkNinja, and Viao trust Clyde to help them improve product lifecycle programs and offer product protection.
“When we launched our extended warranty solution, it was always our intent to use that as a foundation for our complete product lifecycle platform,” said Brandon Gell, founder and CEO of Clyde.
“The funding will enable us to execute on this vision. We’ve already proven we have the tools to do this by helping merchants drive an extended warranty attachment rate that is 4x the industry average. We will continue to build on this success as we reshape what it means for merchants to engage with consumers throughout a product’s lifecycle.”