CHICAGO, IL, ReviewTrackers, the award-winning customer feedback platform, has successfully secured $4 million in growth capital, led by American Family Ventures.
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Square 1 bank, a division of Pacific Western Bank, provided a debt facility to complement this latest capital raise, bringing ReviewTrackers' total financing to $6.1 million. With this latest round of financing, ReviewTrackers will accelerate the development of its software to meet the needs of its expanding enterprise-level customer base.
'We invest in companies that we believe can improve how businesses interact with and deliver value to customers,' said Dan Reed, managing director of American Family Ventures. 'It's essential for businesses in the digital age to become customer-centric and deliver on their brand promises. ReviewTrackers offers that function - a simple, fast, and easy way to listen, respond to, and innovate based on what customers are saying.'
Ross Mires, vice president, technology banking at Square 1 Bank commented on Square 1's involvement by saying, 'In today's data-driven world, it is vital for businesses to not only understand their online reviews, but also utilize them to improve sales functions, customer service, and other operations. We are excited to partner with the ReviewTrackers' team as they continue to bridge this information gap.'
Since taking initial capital from American Family Ventures in early 2014, ReviewTrackers has increased its revenue over 10x, tripled its workforce and grown its customer base to more than 25,000 business locations. Many of the newer features are not readily available within other customer feedback management platforms, helping ReviewTrackers to take the lead in innovation.
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ReviewTrackers is the award-winning software that elevates the voice of the customer and enables brands to innovate based on customer reviews and feedback. The platform aggregates reviews from over 70 review sites, helping busy professionals save time and focus on what matters most: their customers. ReviewTrackers' easy-to-use dashboard helps brands quickly manage their online reviews, uncover hidden customer insights, make data-driven decisions and improve brand reputation. Used by over 25,000 businesses, ReviewTrackers is the premier customer feedback solution for enterprise businesses.
About American Family Insurance
Madison, Wis. - based American Family Insurance is the nation's 13th-largest mutual property/casualty insurance group and ranks 332nd on the Fortune 500 list. The company sells American Family-brand products, including auto, homeowners, life, business and farm/ranch insurance, through its exclusive agents in 19 states. American Family affiliates (The General, Homesite and AssureStart) also provide options for consumers who want to manage their insurance matters directly over the Internet or by phone. Web www.amfam.com; Facebook www.facebook.com/amfam; Twitter www.twitter.com/amfam; Google+ plus.google.com/+amfam/.
About Square 1 Bank
Square 1 Bank is a division of Pacific Western Bank, a Los Angeles-based commercial bank with over $21 billion in assets. A full service financial services partner to entrepreneurs and their investors, Square 1 provides clients flexible resources and attentive service to help their companies grow. Square 1 offers a broad range of venture debt, treasury and cash management solutions through offices in top innovation centers: Atlanta, Austin, the Bay Area, Boston, Chicago, Denver, Durham, Los Angeles, Minneapolis, New York, San Diego, Seattle and Washington, DC. Pacific Western Bank is a wholly-owned subsidiary of PacWest Bancorp (NASDAQ:PACW). For more information, visit www.square1bank.com.