Chattermill secures £21m for AI customer feedback analysis

Chattermill

Chattermill, a platform to analyse customer feedback at scale, is looking to double its growth after receiving a $26m (£21.1m) Series B investment.

The startup was founded in 2015 with the goal of incorporating AI into the work of customer experience (CX) teams.

The Chattermill platform analyses all digitally available interactions between a company and its customers, including both specific customer feedback and social media interactions.

The company claims that after analysing and unifying this data, it can determine actionable insights for CX teams to encourage growth.

“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,” said Chattermill co-founder and CEO, Mikhail Dubov.

“We believe there is no other technology that can provide the level of efficiency and insight needed for CX teams. Our goal is that our AI is able to analyse over a billion pieces of customer feedback for our clients.”

The platform is used by the CX teams at brands like Amazon, Uber, H&M, and Zappos.

The London-based startup will use the new funds to support its expansion across Europe and the US. The latest cash injection came courtesy of Beringea, which led the round, and also saw participation from DN Capital, Ventech, Runa Capital, btov Partners, SVB, and Blossom Street Ventures.

“The current solutions in the [CX] market lack flexibility and accuracy when analysing this unstructured customer feedback across a wide range of sectors,” said Mark Sheperd, investment manager at Beringea.

“Chattermill has, therefore, enabled a blue-chip roster of clients to tap into a ‘data gold mine’ that had previously been out of reach.”

Chattermill’s previous funding round came in the form of an $8m (£6.5m) Series A investment led by repeat investor DN Capital.