Led · Series A · Feb 2021

Gravy pairs technology with U.S.-based retention specialists to recover failed subscription payments and reduce involuntary churn. The company integrates with clients' payment processors and subscription managers (Stripe, Braintree, Recurly, Keap, and others) and operates as an extension of clients' teams via a dedicated Slack channel. Clients pay a flat subscription fee tiered by transaction volume ranging from $997 to $8,000, and Gravy's retention specialists are full-time employees with benefits, many located in small towns and including military family members. Since founding in 2017, Gravy has scaled to over 300 clients, processed more than 6 million failed payments, and recovered $175 million in subscription revenue. The company expects to pass $1 million in monthly recurring revenue this year and set a near-term goal to return $1 billion in failed payments by 2023. With a current headcount of 83, Gravy plans to grow to about 150 employees by year-end and to invest in product development, client acquisition, and potential future services such as recovering voluntary churn and broader customer service. Gravy provides full-time, virtual retention specialists that help companies with recurring subscriptions and memberships retain customers. The platform serves industries including online courses, SaaS, subscription boxes, and health & fitness. Since launching in 2017 the company says it has recovered more than $15 million in single-saved transactions. Gravy is on pace to double its revenue and staff in 2019. The company plans to use new funding to attack target markets, establish its brand, amplify its go-to-market strategy and invest in top talent. Gravy is led by CEO Casey Graham and is based in Atlanta, GA.