(Image source: Extend website.)
Extend (San Francisco), a provider of API-driven product protection plans, has been named a BigCommerce Elite Technology Partner, providing approximately 60,000 BigCommerce merchants access to Extend’s tailored protection plans and extended warranties. As of Feb. 15, BigCommerce merchants can integrate Extend’s tech-enabled, product protection stack through the BigCommerce App Marketplace.
“Like BigCommerce, Extend is transforming the eCommerce landscape by empowering merchants to grow their businesses online and improve customer satisfaction,” comments Rohan Shah, co-founder and SVP of Strategy, Partnerships and Business Development, Extend. “We are thrilled to serve among BigCommerce’s Elite Technology Partners and reach even more merchants, providing them flexibility at every step of the product protection process for the best customer experience.”
Extend describes its value proposition as allowing merchants to build better customer relationships and increase revenue with its full stack product protection platform. Powered by AI technology and underwriting capabilities, Extend’s platform enables offer optimization, rapid claims resolution, and a seamless end-to-end customer experience, according to a company statement.
Extend reports that Merchants across its industry verticals have seen higher repeat purchase rates. For example, the repeat purchase rate among customers who have purchased a protection plan for furniture is on average 9.3 percent higher than the repeat purchase rate for customers who haven’t.
Fresh Approach to Extended Warranties
“Extend gives our merchants the ability to modernize their product protection services to deliver quick resolution to product claims, while driving maximum revenue through tailored programs that optimize conversions and influence repeat business,” comments Russell Klein, Chief Commercial Officer, BigCommerce. “By using innovative AI-technology, Extend is bringing a fresh approach to extended warranties and protection plans that replace the stigma of complexity with a smooth customer experience from start to finish.”
In 2021, Extend cemented its unicorn status at a $1.6B+ valuation after a $260M Series C financing led by SoftBank Vision Fund 2, which was joined by Amex Ventures, Meritech Capital Partners, PayPal Ventures and GreatPoint Ventures, Nationwide, Tomales Bay Capital, Launchpad Capital, 10X Capital, and 40 North.