Clarabridge, Inc. announced today that it has completed an $80 million equity investment by new investors General Catalyst Partners, Summit Partners, and Unica-founder Yuchun Lee. Founded in 2006, Clarabridge has become a leading provider of intelligent Customer Experience Management (CEM) solutions. Over the past three years the company has recorded 150 percent in revenue growth and 250% in recurring revenue.
“The world’s top companies recognize the growing importance, ROI and massive amount of data growth and channels involved in listening to the voice of the customer. We’re thrilled at how many have selected Clarabridge’s multichannel, Intelligent Customer Experience solutions to collect, analyze and act on this critical data to enhance customer experience,” said Sid Banerjee, Clarabridge CEO. “Over the past eight years, Clarabridge has clearly established itself as the leader in the CEM space. This capital infusion will enable us to significantly increase investment in our people, products and processes, accelerate innovation, both organically and strategically, and ensure we power the future of customer experience analytics at all levels of the enterprise.”
The company will use the investment to further expand its global operations, power continued product innovation, grow its employee base and increase reach through marketing and strategic transactions to capitalize on escalating market demand for CEM solutions.
“Before committing to our investment in Clarabridge,” added Lee, “we researched the CEM space thoroughly. While there are many exciting, growing companies developing compelling solutions in the space, we found that Clarabridge uniquely possesses a strong team, a robust, scalable product architecture, and proven, successful execution since its inception – and we believe Clarabridge will become the dominant leader as CEM continues to undergo explosive growth in the next few years.”
As part of the transaction, Yuchun Lee will join as Clarabridge’s Chairman of the Board and Larry Bohn of General Catalyst Partners and Tom Jennings of Summit Partners will join as board directors. Clarabridge Founder and CEO Sid Banerjee said, “Our new investors bring decades of experience building, growing, and leading world-class companies and I look forward to working with them to scale Clarabridge to new levels of success.”
Clarabridge delivers CEM solutions powered by sentiment and text analytics for Global 1000 organizations including Walmart, Dell, Fidelity, Wendy’s International, United Airlines, Best Buy, PetSmart, QVC, Inc., and many more.