In the US, customer experience management (CEM) software firm Medallia, which last week partnered with TNS, has received $50m in funding from its existing sole institutional investor, Sequoia Capital.
Medallia's software integrates, analyses and presents data from the full range of customer touchpoints. Together with TNS, it is now developing a new offer to help organisations develop consumer-centric business strategies, backed by the research firm's recently launched TNS Customer Insight Survey of c.40,000 customers across twenty markets.
The new investment brings Sequoia's total input to the company to $105m, one of its biggest ever. The firm was also the sole institutional investor for mobile messaging service WhatsApp, and its $60m stake following the latter's acquisition by Facebook earlier this year for $19bn is now said to be worth $3bn, according to The Wall Street Journal
Medallia says the latest funds will be used to expand and scale its platform, including its text analytics engine; grow offices in the US and abroad; and expand its cloud infrastructure to help it handle millions of users in 70 languages. Co-founder and CEO Borge Hald says the company's valuation is up nearly five times since its first funding round in 2012 - in which time headcount and customer numbers have also grown fivefold. An IPO is said to be a possibility from, next year, but Hald says it will only happen if advantageous to the company.
Web site: www.medallia.com .
All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.