Even in our consumer-driven culture, the customer is always right.
Medallia has developed software that analyzes data about customer experiences. Today, the company announced raising $35 million for its technology, which measures customer feedback and provides insights that can serve to increase satisfaction, loyalty, and sales.
Using text analytics, data mining, and visualization, the platform looks at relevant content from the web, phones, SMS, mobile devices, and social networks. It closely tracks customer response to whatever services they are receiving, and empowers the businesses to quickly react to that feedback.
“Medallia’s software gathers customer feedback, either solicited survey feedback from stores, call centers and websites, or unsolicited social reviews and comments,” said CEO Borge Hald. “Managing this feedback in real time gives our customers a competitive advantage. They can instantly identify and respond to unhappy customers to reduce churn, invite their biggest fans to become more vocal advocates online, and they use feedback to inform new and better products and services.”
Two of its most used products are the Social Feedback for Hospitality and Mobile Feedback solutions. The company will be announcing new products next week. Medallia is used by 100 brands around the world, across a number of sectors including financial services, hospitality, and high-tech. Clients include Four Seasons, Sherwin-Williams, Honeywell, Sephora, Toyota Financial Services, and Sony EU.
This round of investment came entirely from Sequoia Capital and will enable Medallia to create more solutions and continue expansion.
Medallia is in Palo Alto, Calif. Read the press release.