PALO ALTO, CA, Medallia, a leading SaaS provider of Customer Experience Management (CEM) solutions, today announced that it has raised $150 million in growth equity capital in a round led by Sequoia Capital.
This new investment follows a period of rapid growth, during which Medallia welcomed a number of additional large enterprise customers to its client base, substantially grew revenue, launched partnerships with several prominent professional services firms and expanded its global operating footprint.
'Consumers are increasingly making purchase decisions based on customer experience data like online reviews and social media feedback rather than pre-existing brand recognition. To deliver consistently great experiences, leading companies are shifting from merely collecting customer feedback to engaging with consumers and embedding their feedback directly into operations,' said Borge Hald, CEO and co-founder of Medallia. 'Our recent round of funding is an important step in our journey to build customer experience into the DNA of the world's companies and change the way they operate.'
Medallia first raised venture funding in late 2011, and has now raised a total of $255 million. The company plans to use this most recent investment in a two-pronged plan to further enhance its operations, with a focus on:
Developing additional new product capabilities and tools; and
Expanding its operating footprint in major markets, building on a global team that has doubled in size to over 700 employees in the past 18 months.
'Medallia is helping the world's top brands increase loyalty, grow their businesses, and deliver unforgettable customer experiences,' said Douglas Leone, Medallia board member and Sequoia Capital partner. 'Their rocketing growth will only continue as more companies recognize that in today's age, effectively managing the customer experience is no longer a choice. It's a win-or-lose necessity.'
This funding builds on a number of milestones during recent months. Medallia has:
Allied with leading global system integrators and customer experience experts, including J.D. Power and Appirio, that have launched implementation and program management practices for the Medallia platform;
Welcomed companies, including SAP, Mazda and DIRECTV, to its client base, joining such customer experience leaders as Four Seasons and Zurich Insurance Group;
Added seasoned industry veterans to its board of directors, including LinkedIn and Palo Alto Networks board member and audit committee chair Stan Meresman, and former Netflix CMO Leslie Kilgore; and
Appointed proven financial leader and former Polycom CFO Mike Kourey as CFO.
Medallia is the Customer Experience Management company that is trusted by hundreds of the world's leading brands. Medallia's Software-as-a-Service application enables companies to capture customer feedback everywhere the customer is (including web, social, mobile, and contact center channels), understand it in real time, and deliver insights and action everywhere - from the C-suite to the frontline - to improve their performance. Founded in 2001, Medallia has offices in Silicon Valley, New York, London, Paris, Hong Kong, Sydney and Buenos Aires. Learn more at www.Medallia.com.
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