● The Series B funding round – led by Beringea – will enable Chattermill to continue its expansion across the US and Europe, and grow its platform capabilities to help more businesses truly understand their customers.
● Chattermill has built the first Unified Customer Intelligence platform that applies deep learning artificial intelligence(AI) to easily understand customer experience data and provides businesses with a ctionable insights.
● Co-Founded in 2015 by Mikhail Dubov and Dmitry Isupov at Entrepreneur First, Chattermill has grown to an 80-person team, headquartered in London.
● Customer experience has never been more critical to businesses as they fight harder to attract and retain customers in today’s economic climate.
London, UK - 00.01 AM 6th December 2022 — Chattermill,the Unified Customer Intelligence platform, today announced a $26M Series B funding round to double down on its growth, expanding its platform capabilities to meet its vision as the first true Unified Customer Intelligence Platform. The Series B was led by Beringea, with participation from previous investors DNCapital, Ventech, Runa Capital, btov Partners, SVB, and new investors BlossomStreet Ventures.
Chattermill analyses millions of interactions between a company and its customers, fromfeedback data to social media. It empowers businesses to easily unify their customer experience data, and uses deep learning-based AI to deliver actionableinsights that help companies deliver loyalty and growth-driving customerexperiences. Chattermill works with leading brands, including Amazon, Uber,H&M, and Zappos, to power their CX programs.
Since raising its $8M Series A in 2020, the Entrepreneur First alumnus Chattermill has more than doubled its team, and hit 200 per cent of its new business revenue and pipeline targets in Q1 ‘22. Chattermill has seen customers like Uber and JustEat triple their usage, having seen the impact the platform can drive. The company was ranked #1 in G2’s Momentum Grid Report for Text Analytics and has been named a High Performer in the Feedback Analytics Software category.
Mark Shepherd, Investment Manager at Beringea, commented, “Customers today share vast amounts of feedback online across a wealth of platforms and channels, providing a huge opportunity for businesses to drive performance through customer insight. However, the current solutions in the market lack flexibility and accuracy when analysing this unstructured customer feedback across a wide range of sectors. Chattermill has, therefore, enabled a blue-chip roster of clients to tap into a ‘data gold mine’ that had previously been out of reach – the highly-scalable, intuitive product that Mikhail, Dmitry, and their exceptional team is demonstrating immense opportunity as proven by their rapid growth.”
Analysing customer experience data at scale to uncover meaningful insights is a difficult task, but it is the key to building great customer experiences. Today, customer experience data is spread across dozens of sources – including surveys, reviews, support conversations, product feedback and social media. Traditional analytics tools struggle to support the volume of feedback, and manual analysisis too time-consuming for CX teams to do. Chattermill solves this problem.
Mikhail Dubov, CEO & Co-Founder of Chattermill, said, “Building a customer experience strategy forlarge businesses is incredibly difficult, and it must be data-driven. Today, CXplays a huge part in any business's success – especially in these challenging economic times. We believe there is no other technology that can provide the level of efficiency and insight needed for CX teams to succeed – this is why we are trusted by major brands like Amazon and Uber. Our goal is that our AI is able to analyse over a billion pieces of customer feedback for our clients.”
Speaking on their work with Chattermill, Steve Crolic, Associate Director Voice of the Customer at HelloFresh, said, “Chattermill is an integral part of our success in delivering ourmarket-leading customer experience. We were one of the first brands torecognise the impact Chattermill could have in making sense of our customerdata. Over our years working together, it has been a crucial tool in improving the HelloFresh experience to keep our customers happy and, better still, keep them coming back for more.”
Dubov continued, “Raisinga Series B in the current economic environment can be challenging, and the fact we were able to raise this round is a huge testament to our product. This furthervalidates the market demand for our vision and technology, enabling us to buildthe Unified Customer Intelligence category, expand the range of insights wedeliver to users, and further develop our solutions.”
Alain Caffi, Founding Partner at Ventech: “Chattermill is a perfect example of the type of company we're looking for: a visionary founding team strategically positioned in the customer feedback analytics space. In these uncertain times, companies need to focus more than ever on what their customers think and want, and Chattermill offers them a unique solution. Since our first investment in 2019, we've seen Chattermill win iconic accounts like Amazon, Uber, H&M, JustEat, Tesco, and EON, while building a team of experienced talents with the U.S. market in mind as our next step. That's why we're thrilled to support them again and remain one of their core investors."
Chattermill is headquartered in London. The funding will support its continued organic expansion in the US and Europe as well as its growing partner network across the world. Chattermill is growing its team and is hiring across Engineering, Data and Commercial functions.
Media contacts:
Cathy White, CEW Communications for Chattermill
cathy@cewcomms.com
+44 (0)7791232834
Alexis Bollaert, Casablancas for Ventech
abollaert@casablancas.eu
+33 (0)6 63 73 82 97
Yakun WANG, Head of Communications, Ventech
yakun.wang@ventechvc.com
