Dynamite Year for Mining Firm

Text mining software supplier Clarabridge has announced that it trebled its revenue in 2008. In addition to growth in its core sectors of retail, consumer goods and hospitality, the company says it has expanded into new areas with big name deals in telecoms, financial services, technology and entertainment.

The privately-held firm says it closed nearly 50 transactions in the year, two-thirds of them with Global 1000 enterprises. Wal-Mart, Walgreens, Choice Hotels and other major corporations all signed agreements in a successful fourth quarter of 2008, while the firm's existing customer base doubled its spend during the year.

Clarabridge's key product, the Content Mining Platform™, provides clients with an analytical view of text-based verbatims found in consumer feedback channels such as call center notes, qual survey feedback, Web 2.0 content and customer warranty forms. Version 3.0, released in 2008, added new enterprise integration and scalability features including a drag & drop web-based user interface, plug & play direct integration with online data sources and enhanced linguistic, sentiment and categorization capabilities.

The firm says it successfully expanded its Bridge-to-Success partnership program during the year by adding 20 new partners, including contact center outsourcers, systems integrators, platform technology companies and leading market research firms. The last include Maritz Research, Satmetrix, TNS Global and Vovici. The company also launched its own online community forum for Clarabridge users and held an inaugural Customer Connections C3 Users Conference.

President and CEO Sid Banerjee comments: 'Despite recent economic challenges, many of our clients are ramping up their focus on retaining and upselling to customers. Our explosive growth in the second half of 2008 also suggests that there is a widening gap between Clarabridge and its text analytics competitors'.

The firm, which recently opened a west coast office, has its headquarters in Reston, VA and is online at www.clarabridge.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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