Decibel, the leader in digital experience intelligence, has closed its Series B investment round raising $17 million.
The round was led by Draper Esprit, one of the most active venture funds in Europe, along with existing Series A investors Eight Road Ventures and John Simon, via his Ventureforgood investment entity, participating.
Having already proven that digital customer experience directly correlates with revenue, Decibel’s mission is to make digital customer experience a science.
Its Digital Experience platform captures and quantifies unique experience data, enriched by machine learning, to pinpoint problem areas on brands’ websites and apps. Armed with this intelligence, brands can alleviate user frustrations in near real time – and not risk putting revenue on the line.
Decibel quantifies the digital customer experience for more than 250 of the world’s largest brands spanning the retail, financial services, travel and hospitality and media industries, including Sony, Allstate and Toyota. Its powerful platform crunches over one billion website/app pages of experience data a month.
“We are at a tipping point. The experiences that customers have on brands’ websites and apps directly impact their propensity to buy – and therefore they effect brands’ revenue. As a result, C‐suites everywhere are making digital customer experience a business priority,” said Ben Harris, CEO and co‐ founder, Decibel.
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“I’m incredibly proud of the hard work our team has put behind making Decibel the industry’s leading technology over the past five years, and humbled by the support our investors, customers and partners provide every day. We are pushing full steam ahead as we jump into 2020.”
Nicola McClafferty, Investment Director, Draper Esprit added: “Game changers across industries like retail, travel and financial services have changed expectations around good digital customer experience, and other brands need to keep up.
“Decibel’s comprehensive platform and unique approach to measuring and impacting digital customer experience is delivering significant value to its already impressive list of customers. We have been really impressed with the growth in the business, across EMEA and the U.S., over the last couple of years and the impact that Decibel is delivering to their customers, not just in marketing but across functions including customer service, engineering and product. We are excited to partner with Ben and the team as they continue to expand the business globally.”
The Series B funding brings the total amount raised by Decibel to $26 million over two rounds. The investment will be used to take its experience‐focused technology to the next level, as well as expand its presence across Europe and North America.