In many companies, 80% of the lifetime revenue from a customer comes after the initial sale. Yet traditional Customer Relationship Management (“CRM”) products have focused only on finding, closing, and supporting clients. One category that has not been addressed by the existing CRM providers is managing and growing the customer (“Account Management”). Synap fills the void in this $5 billion market with an easy to deploy Software as a Service (“SaaS”) solution.
Currently, the account management function in most businesses is performed using spreadsheets and Word documents. Synap’s software replaces this manual/cumbersome process with an easy to deploy product requiring little technical support. The software instantly connects to each user’s email account, creating a complete contact and company database. Synap also integrates with any existing CRM software an organization may be running (e.g. Salesforce), resulting in a seamless installation process. Once installed, users can immediately begin creating custom views of their customers, build account plans, and track upsell opportunities. Synap accumulates every major touchpoint a customer has with an organization, providing account managers and others in the company the tools they need to manage and grow their customer relationships.
The CEO of Synap most recently built a SaaS company which provided solutions for the CRM and portfolio management functions for the alternative asset management industry, growing this business to annual revenues of $30 million.Synap received early funding from a number of well - known Midwest based VC firms, and was referred to VCapital by Chris Gladwin, the CEO of VCapital portfolio company Cleversafe, which was sold to IBM for $1.3 billion.Synap has an extensive and sophisticated marketing program in place, and expects to quickly ramp up revenue in 2017 as businesses come to realize the value and ease of use of the software.