Apptentive, the Customer Experience Platform for the World’s Leading Brands, Raises Capital to Accelerate Growth
Seattle, WA (PRWEB) November 16, 2016 -- Apptentive, the Mobile Customer Experience platform for the world’s leading brands, today announced it raised $3.6M in the first close of a funding round that could total up to $5M. The company’s mission to give every customer a voice is resonating with the Fortune 500 as they increase their investment in Customer Experience. New investors include Vulcan Capital and Blossom Street Ventures. Existing investors SurveyMonkey and Origin Ventures also participated. Brent Hill, Partner at Origin, will join the board.
Apptentive’s industry leading 150 percent revenue retention rate is attributable to their focus on earning #CustomerLove. With new customers like Buffalo Wild Wings, Saks Fifth Avenue, Philips, eHarmony, Major League Soccer, and TMZ, Apptentive is proving that Mobile Customer Experience is important to all businesses regardless of industry.
“Companies typically hear from less than one percent of their customers. We’re helping brands hear from 25 percent of their audience—that exponential growth impacts every area of the business,” said Robi Ganguly, Co-founder and CEO of Apptentive. “We power over 25 million conversations every month. While significant, that represents only one percent of the two billion people using smartphones around the globe. We’re opportunistically raising money now to accelerate our sales activities, further develop our product, and continue the hard work of building rich communication profiles for over 140 million people every month.”
Consumers have high expectations for customer experiences—80 percent of consumers stop doing business with a company following a bad customer experience. To accelerate their effort to help brands meet rising customer expectations, Apptentive is using the new funding to double the size of their engineering, sales, and customer success teams.
“Apptentive has a unique product that is creating new types of customer data—at scale—for some of the most respected brands in the world. Their net retention is off the charts, their sales efficiency is top tier, and now is the time for us to accelerate our growth,” said Brent Hill, Apptentive Board Member and Partner at Origin Ventures. “We’re looking forward to bringing this product to more of the world’s great companies and to build out the engineering team to deliver on their exciting product roadmap.”
About Apptentive
Apptentive’s Mobile Customer Experience platform empowers companies to build brands customers love by understanding their behavior and expectations. The product gives brands the to opportunity to listen to, engage with, and retain their customers through intelligently timed surveys, messages, and prompts. Integrated into thousands of mobile apps, Apptentive helps companies proactively engage customer segments, track customer sentiment, boost app ratings, drive downloads, and earn loyalty. The company powers millions of customer interactions every month for companies including eBay, Intercontinental Hotels Group, Microsoft, Nordstrom, Philips, and Viacom.
Marissa Smith, Apptentive, http://www.apptentive.com, +1 313-312-0169, [email protected]
Share this article