Chameleon raises funds to help SaaS companies create better onboarding experiences

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Chameleon, a startup providing low-code and no-code tools designed to help software vendors customize the look of their applications, announced today that it has raised $13 million. In a Series A funding round led by Matrix Partners with participation from True Ventures, the proceeds – which brings Chameleon’s total to $14.8 million – will be used to expand the platform. shape and grow the workforce from 30 employees to about 45 by the end. of the year, according to CEO Pulkit Agrawal.

A recent and noticeable shift in the Software as a Service (SaaS) industry has been towards “consumerized” business models, Agrawal told me in an interview. Monthly end-user payments are replacing annual enterprise contracts sold to executives – a recent survey found that over 50% of SaaS companies are now taking advantage of usage-based pricing. Concretely, this means that decision-making power is increasingly in the hands of the individual user, which poses a problem for software companies who cannot afford to engage these users.

“It’s imperative [vendors] are able to capture users’ attention and help them find ‘aha’ moments, so they can discover value and continue to deepen their engagement,” Agrawal said via email. which leads to the gap in communicating functional value without a means of — and where Chameleon fills the void.”

Agrawal founded Chameleon in 2015 with Brian Norton, a former Salesforce engineer, whom he met in San Francisco while working at a mobile app startup (Shoto). When the pair saw the long-term impact of user onboarding, they convinced a company backed by Y Combinator to let them build their user onboarding experience. Soon after, Agrawal and Norton began shipping the solution, found a paying customer, and Chameleon was born.

Chameleon.io

Picture credits: Chameleon.io

ChameleonThe platform enables software development teams to create and test in-product experiences including banners, tooltips, modals, walkthroughs, and checklists. Developers can use Chameleon — which integrates with analytics tools from HubSpot and Salesforce — to trigger other in-app services, from Typeform surveys to Zendesk chat sessions.

“Chameleon it’s meimportant for people who build software and care about using it,” Agrawal explained. “Normally, these are digital product teams in large companies. Sometimes they also create apps for internal or alternate users where they need to communicate the different features and value propositions in the product, and Chameleon can be leveraged there as well. »

Chameleon recently launched HelpBar, a new offering that provides an in-app “lighthouse search” experience so users can search a company’s help articles, developer docs, and blog posts. Also new this year are micro-surveys, single-question product surveys whose data can be fed into existing analytics tools.

Chameleon’s services overlap somewhat with those of its competitors in the low-code and no-code development space. For example, CommandBar, which landed $19 million in funding in April, is developing a search bar that developers can use to perform natural language searches in their apps. Meanwhile, WorkOS, which raised $80 million in June, enables developers to quickly add enterprise features like single sign-on (SSO) and directory synchronization to their software.

Agrawal also sees Pendo and Appcues as top competitors. But he said San Francisco-based Chameleon’s business has remained strong lately, despite headwinds; Chameleon currently has approximately 300 customers.

“Slowdowns and profitability metrics are driving businesses to leverage scalable revenue models, including self-service and product-driven growth, driving increased demand for Chameleon,” Agrawal said. “Chameleon is the deepest product adoption platform that enables modern SaaS companies to personalize and personalize their user experience, and thereby improve feature discovery and user engagement.

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