Skio Raises Funds To Help Brands On Shopify Sell Subscriptions
Skio, a startup that aims to take the pain out of selling subscriptions for brands on Shopify, has raised $3.7 million in a seed funding round. Kennan Davison, an engineer who previously worked at Hulu and Pinterest, founded the startup in April. Skio is taking on incumbents like ReCharge Payments, which too has built subscription […]
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Skio, a startup that aims to take the pain out of selling subscriptions for brands on Shopify, has raised $3.7 million in a seed funding round. Kennan Davison, an engineer who previously worked at Hulu and Pinterest, founded the startup in April.
Skio is taking on incumbents like ReCharge Payments, which too has built subscription software for eCommerce brands and was valued at $2.1 billion earlier this year after a $227 million raise. The startup helps Shopify brands sell subscriptions by managing and scheduling payments as well as anything consumer-facing around the process, such as building a customer portal to manage subscriptions and SMS subscription management, among other things.
“With this quicker building, we’re able to do better than current solutions with one-click checkout with Shop Pay, which increases conversions; passwordless login, which reduces customer tickets; 10x faster subscription editing; a ready-to-go headless subscription portal that leads to instant loads; group subscription discounts, and an easy migration from ReCharge,” said Davison.
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Adjacent led Skio’s seed funding. Nico Wittenborn founded the firm last year with a focus on mobile-first subscription companies. Prior to founding Adjacent, Nico worked at Point Nine Capital and Insight Partners. He has backed companies such as Calm, Revolut, Prose, Oura, and Reflectly.
