Consumer Feedback Platform TruRating Raises $16.6m

Online consumer market ratings system TruRating has closed a $16.6m Series A round of funding, bringing the total raised to date to $26.4m. Part of the new investment will be used to expand in to the Canadian market.

TruRating has developed a platform through which paying UK and Australian customers can provide feedback about retailers and restaurants. Everyone who uses the payment terminal to pay is asked to rate one of five questions related to service, value, product, experience, and likelihood to recommend the brand on a scale of 0-9. Merchants are given the feedback in real-time so they can assess service levels and make adjustments and improvements; and feedback is also available to consumers online, to enable them to compare ratings when choosing where to shop and eat.

The firm's latest round of funding was led by international investment business Sandaire, and adds to early rounds of seed funding including investment from angels Peter Ayliffe, former President and CEO Visa Europe and now Chairman of TruRating; Anthony Gutman, co-head, European Investment Banking Services at Goldman Sachs International; and Chris Blundell, Global Head of Technology at Brunswick Group.

Commenting on the planned Canadian expansion, founder and CEO Georgina Nelson (pictured) said: 'We've established an amazing team in Toronto and our partners are enjoying working with us to provide a value added service that gets to the heart of helping businesses improve. We will be announcing more payment partnerships in the coming months. These will allow us to open up TruRating to even more merchants and, as a result, some very big household names will be working with us by the end of the year, adding millions of ratings every day.'

Web site: www.trurating.com .

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