Medallia is a service industry provide customer experience management of enterprise, to help companies track consumer experience feedback. Is the third time the sequoia capital investment to Medallia company, investment amount of $50 million, with the first two, total investment has makes Medallia sequoia did one of the largest investment.
sequoia capital is the only investor Medallia, points three times in total investment of 105 million dollars. It’s A bit similar to WhatsApp cross-platform communication applications, sequoia capital is also the only investors, the company in 2011 WhatsApp get $8 million from sequoia A round of funding, sequoia also led the WhatsApp altogether three rounds of financing, A total investment of more than $60 million, and the world’s largest social network Facebook for $19 billion, after acquisition of WhatsApp sequoia obtained nearly $3 billion in return.
until now Medallia did not reveal company valuations, but according to Medallia cover, parker, co-founder and CEO haarde revealed that since 2012 the first round of financing, valuations rise nearly five times the Medallia.
sequoia partner humanitarian doug leone said investment in Medallia is very rare, he said the company is very lucky, can be used as potential selected by sequoia.
Medallia co-founder and chief executive of Amy? & mann (Amy Pressman) and sequoia partner and members of the board of directors, doug? Leon (Doug Leone) in the interview revealed after many years as a consultant, they decided to create the cause of this company. They note that a higher quality of service for small companies and the importance of the hotel, including some slightly big scale companies also are not necessarily perfect. They will also want to improve the quality of service, through the consumer experience feedback analysis, accordingly. Only this, the businessman can increase the service point, bring huge competitive advantage. It is at this point, the founder of the Medallia see business opportunities.
but they did not immediately start financing at the time, but the independent operation to the Medallia to profit, in 2012 won the first round of funding, they already have about 100 employees, with more than one hundred brands and customers.
leone, points out that in the absence of any financing founded the Medallia, can only depend on oneself to company’s business to the scale, must have exceptional insight and ability to execute, financing for them is just in order to develop more quickly.
he Medallia said in an interview, evaluation, it is a very precise and perfect team. Haarde presented similar evaluation, he said he asked investment can give full play to the initiative positive rather than a passive cater to.
Medallia as a Internet service software, the company to the customer in all kinds of data mining, and then analysis the data, and through data visualization technology, make enterprise can quickly collect customer feedback, and make the corresponding adjustment experience according to consumer feedback.
since 2012, Medallia on both in the number of employees and customers are expanded four times, including the upscale department store chain nords, dragon house lease community reality (Nordstrom), travel, they all became the Medallia client, haarde also puts forward the concept of “absolute turnover”, because most customers have become the Medallia’s diehard, this registration number is always far greater than the cancellation number.
although in 2012 after the first round of financing, haarde has said he will not finance again, but now he said he hoped to raise money as much as possible to hit the opponent, the opponent, including market research company, they generally cost is very high, also like Sprinklr peers.
social media and mobile terminal has made consumers have an unprecedented opportunity to share their consumption experience, regardless of the high praise, they say. Haarde think if the company can’t learn to collect and analyze the evaluation and learn lessons from, consequence is unimaginable. He said, wanted to keep customer satisfaction is not an easy thing, just like the NFL and NBA players, want to stay with the team, active in the field is also a very challenging thing.
, a company spokesman said the latest financing will be used to expand the Medallia software platform, including the update text analysis engine, extend the cloud equipment, better handling of customer information feedback from the customer, they will be in the United States and towards the world, from six continents for millions of users in more than 70 different countries.
haarde is expected in the next year for initial public offerings, but he says it will not continue offering, he needs to observe public offering can bring to the company’s interests.
at the same time, he from poaching other cloud computing software company a lot of talent, once worked for Workday served as vice President of financial Chris Watts in January to Medallia, becoming chief financial officer. ServiceNow CEO Frank Slootman also became Medallia in February joined the board of independent directors.
about this, haarde explained: “Amy and I are business for the first time, we realized that we often make mistakes, we want to be as little as possible to make mistakes.”