London-based intelligence platform Chattermill has announced a £21.3m ($26m) Series B funding round to double down on its growth.
Chattermill works with leading brands, including Amazon, Uber, H&M, and Zappos, to power their CX programmes.
Co-founded in 2015 by Mikhail Dubov and Dmitry Isupov at Entrepreneur First, Chattermill has grown to an 80-person team, headquartered in London.
The company’s technology analyses millions of interactions between a company and its customers, from feedback data to social media. It empowers businesses to easily unify their customer experience data, and uses deep learning-based AI to deliver actionable insights that help companies deliver loyalty and growth-driving customer experiences.
Dubov, CEO and co-founder of Chattermill, said: “Building a customer experience strategy for large businesses is incredibly difficult, and it must be data-driven.
“Today, CX plays 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.
“Raising a 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.”
Since raising its £6.5m ($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 Just Eat triple their usage, having seen the impact the platform can drive.
Speaking on their work with Chattermill, Steve Crolic, associate director at HelloFresh, said: “We were one of the first brands to recognise the impact Chattermill could have in making sense of our customer data. 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.”
Mark Shepherd, investment manager at Beringea, said: “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.”
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.