Unified Customer Intelligence platform Chattermill, based in London, has received $26 million in Series B funding, followed by $8 million in Series A funding it received back in 2020.
Leading the investment round was Beringea (which had previously invested in YardLink, WiredScore, and Luxury Promise), along with new investors Blossom Street Ventures and previous investors DN Capital, Ventech, Runa Capital, btov Partners, and SVB.
The money will help Chattermill continue its organic growth in the US and Europe and expand its global partner network. The UK-based startup is expanding its workforce and hiring for roles in engineering, data, and commerce. The money will be used to help it realize its goal of becoming the first platform with true unified customer intelligence.
“Customers today share massive quantities of feedback online across a plethora of platforms and channels, creating a great opportunity for organizations to boost performance through customer intelligence,” said Mark Shepherd, Investment Manager at Beringea. In contrast, the market’s current solutions are inflexible and inaccurate when analyzing this unstructured client feedback from a variety of industries.
Building a customer experience strategy for large enterprises is tremendously challenging, and it needs to be data-driven, according to Mikhail Dubov, CEO & Co-Founder of Chattermill. Today, customer experience (CX) is crucial to the success of any company, especially in these difficult economic times. Because of our conviction that no other technology can offer the degree of effectiveness and intelligence required for CX teams to flourish, we are trusted by well-known companies like Amazon and Uber. For our clients, we want our AI to be able to analyze more than a billion pieces of customer feedback.
Steve Crolic, Associate Director of Voice of the Customer at HelloFresh, commented on their collaboration with Chattermill, saying, “Chattermill is an integral part of our success in delivering our market-leading customer experience. We were one of the first brands to recognize the potential value of Chattermill in interpreting our customer data. It has been a vital tool in enhancing the HelloFresh experience throughout our collaboration to keep our customers satisfied and, even better, keep them coming back for more.
Runa Capital’s General Partner in London, Konstantin Vinogradov, continued, “Customer experience is essential, but many firms still lack appropriate AI-based solutions to analyze data and support improvements. Enterprises can amazingly tackle this problem thanks to the comprehensive tech product suite Chattermill has created. We at Runa, who have known the founders for a while and are impressed by their achievements and tenacity, believe that this team is capable of creating a true category leader.
Numerous sources, such as surveys, reviews, support conversations, product feedback, and social media, are used to collect data on customer experience. The volume of feedback is difficult for traditional analytics tools to handle, and manual analysis takes too much time for CX teams to complete. This issue is resolved by Chattermill.
By combining customer evaluations, support tickets, chats, and social media data using artificial intelligence (AI), Chattermill, a company founded in 2015 by Mikhail Dubov and Dmitry Isupov in London, enables businesses to provide experiences that encourage customer loyalty and retention and has examined millions of customer contacts, including social media and feedback data.
Image Credit: Chattermill
