Decibel Raises $17 Million in Series B Funding Round
LONDON & BOSTON--(BUSINESS WIRE)--Nov 21, 2019--
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. In total, Decibel has raised $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.
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.
“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. With growing competition and increasing customer expectations, particularly online, customer experience is arguably becoming a business’ greatest competitive advantage,” said Nicola McClafferty, Investment Director, Draper Esprit. “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.”
Decibel has been growing at a steady pace since its launch in 2014, with its impressive momentum driven by its strong integration and partner ecosystems, including its Premier Partnership with Adobe. The company’s global, growing team now includes 130 people across six cities – in addition to its headquarters in London, employees sit in Boston, San Francisco, Denver, Madrid and Berlin.
“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. “The intelligence from Decibel’s solution solves for a massive black hole organizations have today. 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.”
For more information about Decibel or to join the team, visit: www.decibelinsight.com.
Decibel provides real-time intelligence that enables businesses to measure and improve online customer experiences – at scale.
Pioneering the world’s first technology designed specifically to quantify experiences, Decibel’s Digital Experience Intelligence platform captures unique experience data, enriched by machine learning, to reveal digital body language, understand user state of mind and pinpoint problem areas on your website, web applications and native apps.
Our go-to, universal metric for measuring experiences online, the Digital Experience Score (DXS ® ), automatically rates the quality of experiences and can be segmented across your entire digital offering and audience for immediate insight into where the biggest wins lie. This intelligence powers best-in-class forensic tools that allow digital teams to investigate exactly how and where to optimize for better experiences. Built on a flexible, fast, open API, Decibel makes it easy to integrate and export smart experience data to enrich your entire stack or model in-house.
The world’s largest companies including LEGO, British Airways and AllState Insurance use Decibel to discover opportunities to transform digital experience, drive brand loyalty and grow their businesses. Find out more at www.decibelinsight.com.
About Draper Esprit
Draper Esprit is one of the most active venture capital firms in Europe, developing and investing in disruptive, high growth technology companies. We believe the best entrepreneurs in Europe are capable of building the global businesses of the future. We fuel their growth with long- term capital, access to international networks and decades of experience building businesses. Currently Draper Esprit is a shareholder in a diverse portfolio of companies including Trustpilot, UiPath, Transferwise, and Graphcore. For more information please visit: www.draperesprit.com
View source version on businesswire.com:https://www.businesswire.com/news/home/20191121005453/en/
CONTACT: Allison Webster, PR for Decibel
KEYWORD: EUROPE UNITED STATES UNITED KINGDOM NORTH AMERICA MASSACHUSETTS
INDUSTRY KEYWORD: MARKETING ONLINE RETAIL RETAIL COMMUNICATIONS TECHNOLOGY INTERNET
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PUB: 11/21/2019 07:00 AM/DISC: 11/21/2019 07:01 AM