High-growth Digital Adoption Platform (DAP) aims to triple revenue across 2023
- Product Fruits has signed nearly 500 customers, including Olympic Broadcasting Services, Sanofi, and IU International University.
- No-code platform with native integrations for popular CRM, data, and analytics platforms
Product Fruits, the user-onboarding platform that provides a no-code interface and easy integrations, has closed a €1.6 million seed round co-led by VCs Leverage and Venture to Future Fund, who are joining early investor Lighthouse Ventures. This round of fundraising will be used to sustain the startup’s rapid market penetration by developing the sales organisation and processes, and laying the foundations for a next-generation AI product.
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According to Gartner, 70% of organisations are expected to use Digital Onboarding Platforms (DAPs) by 2025 to overcome user experience challenges. One of the principal drivers of that growth is the expanding costs of marketing, with customer acquisition costs (CACs) reaching unsustainable levels across many markets. A 2022 report from HubSpot concluded that the average CAC for marketing was $1,250, up 25% from 2021. The report also states that technology and software companies have the highest CAC, at $2,000. Despite these escalating costs, the efficiency of digital onboarding is poor, with unacceptable levels of churn during trials.
Product Fruits empowers any business user to create seamless onboarding processes, improve user retention, and drive higher growth and revenue. It achieves this with an independent, interactive layer on top of any web application. In this no-code layer, non-technical users – including product and content managers – can easily create prompts, hints, step-by-step tours, and other interactive content to help their customers navigate through the app and achieve the benefits of adoption.
Product Fruits’ co-founder and COO, Karel Papík, says: “I’m definitely bringing my background in the gaming industry to Product Fruits. That industry takes onboarding or game tutorials very seriously. It’s an integral part of the design, and it’s always about more than learning the controls. Likewise with business apps, I think there are better ways to get users on-boarded that are intuitive, light, adaptive, even gamified. The stakes are high – I would say 90% of free-trial users for business apps never convert, and we are making huge improvements here.”
“Business leaders are fed up with pumping money into marketing programmes only to create leads that fail to convert into paying customers. The reason for Product Fruits’ early success is that we fix broken onboarding processes and deliver a clear and positive impact on revenue. Customers see results from day one – higher conversion from free trials, more upsell opportunities, better NPS, and reduced customer care tickets,” adds Lada Salom, co-founder and CEO.
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Product Fruits customers are any business with a web-based application, and in any sector from insurance, e-learning, games, to real estate platforms, marketing platforms, and many others. The product is easy to adopt via a Chrome browser extension in trial mode and a simple code insertion for full functionality, after which no further support from the user’s in-house IT team is needed.
In its first year of operations (2022), Product Fruits grew revenue by 30% per month and was recognised by Capterra as the “Best Value” DAP. The startup has already signed up nearly 500 customers globally, including the Olympic Broadcasting Services, Sanofi, and IU International University. The DAP startup is already working on integrating AI into its technology to automatically identify opportunities for users to improve their onboarding processes. Product Fruits aims to triple its ARR in the next financial year, driven primarily by its ease of use for non-technical marketing users.
Matej Boruta, founding partner at Leverage said, “We are thrilled to be investing in this startup. The potential for growth is enormous – everything is turning into software, and all of this software needs onboarding in order to be effective and retain new users. This team truly understands how to make the onboarding experience stickier and more delightful. Their vision and drive are truly exceptional, and we can’t wait to see what they will achieve.”
Product Fruits is a high-growth Digital Adoption Platform (DAP) that provides a no-code interface and easy integrations for creating seamless onboarding processes. The startup has signed up nearly 500 customers, including Olympic Broadcasting Services, Sanofi, and, IU International University. With the recent closure of a €1.6 million seed round co-led by VCs Leverage and Venture to Future Fund, the startup plans to triple its revenue across 2023 and roll out a next-generation AI product. Product Fruits’ aim is to provide an intuitive, light, and adaptive platform that gamifies the user-onboarding process, leading to positive impacts on revenue.
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