What they do: Provide a Voice of Customer (VoC) platform that helps brands track, measure, and improve the customer experience.
Problem they solve: Customer experience has become the key driver of brand success, especially when it comes to e-commerce where the customer journey can be granularly tracked.
While many brands collect feedback and customer data to understand these experiences, CloudCherry argues that most of the methods/tools they use are either extremely outdated or offer limited functionality.
Brands are looking for tools that will help them listen to their customers instantly and directly, and then enabled them to quickly act on those insights.Backed by $7 million in VC funding, #Big50-2017 #startup CloudCherry's Voice of the Customer platform helps brands understand and improve customer experiences. Click To Tweet
How they solve it: CloudCherry offers a customizable, SaaS VoC platform, which brands can use to measure key metrics like their Net Promoter Score, Customer Effort Score, and C-SAT. The platform helps them discover actionable insights for Customer Experience (CX) improvement and address issues as they happen at any point of interaction.
Through CloudCherry’s open API, brands can configure the platform to capture authentic customer experience data from multiple touch points and 17+ channels, including smart devices, email, SMS, web, QR Codes, IVRs, and micro-surveys.
The service runs on Microsoft Azure and can be integrated into virtually any workflow; it currently integrates directly with business tools offered by Microsoft, Cisco, ZenDesk, Salesforce, Zapier, and others.
Headquarters: Salt Lake City, UT
CEO: Vinod Muthukrishnan, who previously served as VP of Global Sales, Strategy, and Partnerships at Market Simplified (a FinTech startup) and as a Certified First Officer with the Maersk Line.
Year Founded: 2014
Funding: $7 million total. In September 2016, the company secured a $6M Series A round from Vertex Ventures, CISCO Investments, and IDG Ventures India.
Competitors include: ForeSee, Qualtrics, Medallia, and Satmetrix.
Customers include: Alyasra Fashion, Titan, HDFC, and Air Vistara.
Why they’re in the Big 50-2017: For starters, CloudCherry did exceptionally well in Big50 online voting. The startup also recently raised a solid Series A round and recruited some key talent away from competitors.
We at Startup50 are also bullish on the VoC space. According to Temkin Group, 64% of companies embracing customer experience (CX) in 2016 outperformed their competitors. That’s no surprise when you take into consideration that customers who have the best experiences spend 140% more with a company than those that have the worst, according to the Harvard Business Review.
Additionally, Gartner has predicted that this year, at least 50% of consumer product investments will be redirected to customer experience innovations, an opportunity that startups like CloudCherry hope to take advantage of.