Based in 2013, Usermind is a pacesetter within the “Journey Orchestration” market, which incorporates corporations that assist purchasers analyze buyer relationships and facilitate related personalised communication.
Qualtrics is considerably related. Companies use its platform to gather knowledge on how prospects, staff and others expertise their services and products, taking motion based mostly on the outcomes.
Qualtrics went public in January and raised $1.55 billion, greater than two years following its $eight billion acquisition to SAP. It’ll use Usermind to spice up its “Qualtrics XM Directory” that helps monitor buyer interactions.
Usermind has about 40 staff, in keeping with LinkedIn.
“We began Usermind as a result of we imagine corporations ought to know precisely the place prospects are of their journey, know when issues go fallacious, and have the ability to proactively information prospects to the perfect expertise doable,” Usermind CEO Michel Feaster stated in a blog post.
Qualtrics is co-headquartered in Seattle, the place it has about 800 of its three,300 staff, and had income of $763 million in 2020.
Feaster famous that “like us, they imagine that constructing legendary software program corporations exterior of Silicon Valley is crucial to unfold financial alternative extra broadly throughout the U.S.”
The deal, announced Tuesday, marks the newest chapter in what’s been a little bit of a curler coaster for Usermind over the previous a number of years. The corporate laid off 15 staff (25% of its workers) in March on the outset of the pandemic final 12 months. However then it noticed elevated demand as corporations accelerated their digital adoption. Usermind raised a $14 million spherical in January to help its progress.
“Monitoring buyer satisfaction in each second, in each channel went from a greatest follow to a mission-critical functionality as companies innovated digitally to outlive,” stated Feaster.
The deal can also be a part of a red-hot marketplace for IPOs, enterprise capital, and acquisitions throughout the tech business, and in Seattle.
Usermind had raised $60 million in whole from buyers together with WestRiver Group, Andreessen Horowitz, Menlo Ventures, Charles River Ventures, and others.
Feaster co-founded the startup eight years in the past with Przemek Pardyak, who left the corporate in 2016 and is now at Google. Feaster beforehand labored at Apptio and HP Software program.