Prague-based digital onboarding platform Product Fruits has raised €1.6 million in a seed funding round. According to the company, the capital will be used to further fuel the company’s growth as it ramps up and further refines its sales teams and processes. Since late 2021 Product Fruits has now raised just north of €2 million.
The company’s seed round was co-led by Leverage and Venture to Future Fund who now join pre-seed investor Lighthouse Ventures on the cap table.
Let’s call it like it is - customers aren’t free. They don’t just magically turn up on your doorstep waving oodles of cash and Rod even had to make it very clear to Jerry. According to Hubspot the average customer acquisition cost for marketing was $1,250, a number up 25% from 2021. The report also noted that technology and software companies have the highest CAC, at $2,000.
With a background in gaming that stretches back to the early 90s, co-founder and COO Karel Papik is taking a page from his past and applying it to the Product Fruits’ digital adoption platform and helping organisations drive down acquisition costs.
“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,” said Papik. “Likewise with business apps, I think there are better ways to get users onboarded that are intuitive, light, adaptive, and 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.”
Employing a no-code approach and easy integrations with a number of corporates’ existing CRM, data, and analytics platforms, Product Fruits’ offer allows non-technical team members such as product and content managers the ability to insert prompts, hints, step-by-step tours, and other interactive content to help their customers navigate through the app and achieve the benefits of adoption.
Founded in late 2019, the Prague-based company counts the Olympic Broadcasting Services, Sanofi, and IU International University amongst its client base.