Subscription management platform Recurly acquired Redfast and Prive.
The acquisitions will help Recurly expand its tools for subscriber engagement and commerce automation as well as manage the full subscriber lifecycle, from conversion to retention, according to a Wednesday (May 7) press release.
Recurly’s strategy aims to unify billing, payments, analytics, engagement and commerce within one integrated system, the release said. The acquisitions will help merchants grow recurring revenue and compete in digital and physical commerce.
Redfast, now Recurly Engage, enables brands to trigger real-time prompts to reduce churn and improve retention, according to the release. Redfast CEO Rajeev Raman will join Recurly to lead the Engage product.
“Joining forces with Recurly allows us to help brands turn engagement into their most powerful growth lever,” Raman said in the release.
Prive, now Recurly Commerce, helps B2C brands manage subscriptions for physical goods by automating renewals and optimizing pricing. The platform automates renewals, tests pricing strategies and optimizes subscription flows. Prive co-founders Alex Craciun and Claudia Laurie will stay on as advisors during integration, the release said.
“We’re excited to join the Recurly ecosystem and help more high-growth brands optimize their subscription businesses, scale smarter, and stay ahead of a rapidly changing market,” Laurie said in the release.
Recurly Commerce already serves brands like Coterie, Public Goods and Kudos. The move positions Recurly to compete in the physical goods subscription market, which is projected to reach $1 trillion globally by 2028, per the release.
“Today’s subscription businesses need more than billing — they need the ability to manage the full subscriber lifecycle, mobilize data in real time, and prioritize flexibility and personalization at every touch point,” Recurly CEO Joe Rohrlich said in the release.
The PYMNTS Intelligence report “Winning Both Carts: Millennials Drive Surge in Having Amazon Prime & Walmart+ Subscriptions” found that 46% of consumers are “deal chasers” who will switch subscriptions to save money. Many now maintain multiple retail subscriptions, like Amazon Prime or Walmart+, to shop across platforms and maximize savings. Recurly’s new offerings also aim to support long-term plans, which tend to reduce churn.
The announcement followed the launch of Recurly Compass, an AI-powered analytics tool introduced last year.
