Cloud Apps Capital leads funding of Wootric


San Francisco-based Wootric, which provides Net Promoter Score (NPS) tool to help businesses analyze customer sentiment, announced it has raised an oversubscribed $2.6 million Series A round of funding led by Cloud Apps Capital PartnersCSC Upshot also participated in the round. As a result of the funding, Matt Holleran and Judy Loehr of Cloud Apps Capital Partners have joined the company’s board.

PRESS RELEASE

Wootric Announces Oversubscribed $2.6M Series A to Launch First Customer Happiness Platform

Financing led by Cloud Apps Capital Partners with participation from CSC Upshot, the world’s largest seed fund

San Francisco – April 19, 2016Wootric (https://www.wootric.com/, the leading in-application Net Promoter Score ® (NPS) platform for boosting customer happiness, today announced that it has secured an oversubscribed $2.6 million Series A funding round led by Cloud Apps Capital Partners, with additional participation by CSC Upshot. Wootric is among the first investments made by CSC Upshot’s new $400M fund dedicated primarily to U.S. startups. The capital will be used to further drive product development and expand sales and marketing. Cloud Apps Capital Partners’ Matt Holleran and Judy Loehr have joined the company’s board of directors.

NPS is a simple and powerful way to measure customer happiness; one question that can help businesses better understand how to increase customer loyalty. Wootric’s approach, however, is to ensure that companies don’t stop at the score. Until Wootric, there hasn’t been a simple, automatic way to align everyone in the company around this most important customer experience metric.

Companies all over the world are using Wootric to win customers for life. The in-application approach replaces the cumbersome manual process of sending out email surveys and compiling feedback that is often out of date by the time it’s shared within a company. Key product capabilities include:

  • Real-time NPS surveys that run inside Web AND native iOS/Android apps. Delivers superior response rates (up to 60%) compared to emailed surveys.
  • Insights and workflows that align everyone in the company around boosting customer happiness. Product teams can run “A/B happiness” tests, customer success teams can see who’s likely to churn, marketers can identify and activate brand advocates.
  • Effortless setup and management. It takes less than five minutes to start measuring and improving customer happiness. No more email campaigns or spreadsheets to manage.
  • Makes customer data actionable. In-app workflow ensures customers who share qualitative feedback get a response. Integration with legacy CRM and other business apps ensures that data doesn’t sit in a silo.

Comments on the news

  • “We believe that customer experience is the only true competitive advantage, so we’ve built a Net Promoter Score platform that our customers use to break down departmental silos of information and fully align around the customer,” said Deepa Subramanian, Co-founder and CEO, Wootric. “Our vision is to help businesses win customers for life. Our investors recognize the power of customer centricity, and we’re thrilled they’re banking on Wootric.”
  •    “Wootric has given us a real-time feedback loop to ensure we’re on the right track with our product,” said David Hassell, CEO, 15Five. “Thanks to Wootric, we have been able to achieve and maintain a 70 NPS with account owners. Absolutely amazing!”
  • “In today’s market, customer experience is a top CEO priority and more executives are turning to the Net Promoter Score as the most important CEO metric to guide their comprehensive customer experience strategy,” said Matt Holleran, General Partner, Cloud Apps Capital Partners. “Wootric is the only NPS solution that goes beyond measurement to provide the workflows and analytics required for companies to make a positive impact on their customer experience, and we believe Deepa and Jessica have created the right foundation, with the right business model, for a customer experience solution that can help companies globally.”

Wootric momentum

  • Over 2 million surveys sent per month and growing – for leading companies including Citrix, New Relic and Time Inc.
  • Wootric is global; 50% of customer base is outside the U.S. with survey respondents in every online country around the world (195 countries, only excluding North Korea).
  • Surveys are delivered in 22 languages and counting.
  • Verticals served include Saas (New Relic, Citrix), E-commerce (Dot+Bo), Education (Pluralsight, Mind Valley) and Online Media (Time Inc.).

Additional information

About Wootric:

Wootric is the leading in-application Net Promoter Score platform for boosting customer happiness. It has modernized the NPS experience through customizable NPS surveys that run inside Web and native iOS/Android mobile apps for a real-time, accurate measure of customer sentiment with off-the-charts response rates. Wootric helps CEOs, product, customer success, and marketing leaders improve the customer experience to drive retention and increase brand loyalty.  With over 10 million surveys delivered, companies including Citrix, New Relic and Time Inc. are using Wootric to win customers for life. Founded in 2014 by Deepa Subramanian and Jessica Pfeifer, Wootric is headquartered in San Francisco and funded by Cloud Apps Capital Partners. To learn more about Wootric, please visit  https://www.wootric.com/.

About Cloud Apps Capital Partners

Cloud Apps Capital Partners is a market-focused venture capital firm helping early-stage companies in cloud business application markets build the next generation of global, category-leading businesses. The firm has more direct industry, operational and investing experience in building global cloud business application companies than any other early-stage venture capital firm. For entrepreneurs, this translates into unparalleled access to business-model knowledge, a network of impact executives, relationships with leading cloud companies and the optimal funding model to lay the right foundation to build a global category-leading company.

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