London-based Chattermill, the Unified Customer Intelligence platform, has scored $26 million in Series B funding. This round follows the $8 million Series A funding it raised back in 2020.
The investment round was led by Beringea (also invested in YardLink, WiredScore and Luxury Promise) with participation from previous investors DN Capital, Ventech, Runa Capital, btov Partners, SVB, and new investors Blossom Street Ventures.
Chattermill will use the funding to support its continued organic expansion in the US and Europe and its growing partner network worldwide. The UK-based startup is growing its team and is hiring across Engineering, Data and Commercial functions. It will use the funds to meet its vision to be the first true Unified Customer Intelligence Platform.
Mark Shepherd, Investment Manager at Beringea, commented, “Customers today share vast amounts of feedback online across a wealth of platforms and channels, providing a huge opportunity for businesses to drive performance through customer insight. However, the current solutions in the market lack flexibility and accuracy when analysing this unstructured customer feedback across a wide range of sectors.”
Mikhail Dubov, CEO & Co-Founder of Chattermill, said, “Building a customer experience strategy for large businesses is incredibly difficult, and it must be data-driven. Today, CX plays a huge part in any business’s success – especially in these challenging economic times. We believe there is no other technology that can provide the level of efficiency and insight needed for CX teams to succeed – this is why we are trusted by major brands like Amazon and Uber. Our goal is that our AI is able to analyse over a billion pieces of customer feedback for our clients.”
Speaking on their work with Chattermill, Steve Crolic, Associate Director Voice of the Customer at HelloFresh, said, “Chattermill is an integral part of our success in delivering our market-leading customer experience. We were one of the first brands to recognise the impact Chattermill could have in making sense of our customer data. Over our years working together, it has been a crucial tool in improving the HelloFresh experience to keep our customers happy and, better still, keep them coming back for more.”
Konstantin Vinogradov, the London-based General Partner at Runa Capital, added, “Customer experience is crucial, but many businesses still lack proper AI-based tools to analyse data to help improve it. Chattermill has built a comprehensive tech product suite that brilliantly solves this issue for enterprises. Having worked with the founders for some time, we at Runa are impressed by their results and resilience, and consider this team as capable of building a true category leader.”
AI-powered customer understanding platform
Customer experience data is spread across dozens of sources, including surveys, reviews, support conversations, product feedback and social media. Traditional analytics tools struggle to support the volume of feedback, and manual analysis is too time-consuming for CX teams to do. Chattermill solves this problem.
Founded in 2015 by Mikhail Dubov and Dmitry Isupov in London, Chattermill enables businesses to unify their customer feedback reviews, support tickets, conversations, and social media data using AI to deliver insights that help businesses deliver loyalty and retention-driving customer experiences.
It analyses millions of interactions between a company and its customers, from feedback data to social media. Chattermill has grown to an 80-person team, with 29 female employees. The team comes from 22 nationalities worldwide, working from 16 countries.
The Entrepreneur First alumnus has also worked with the world’s leading brands, including Amazon, Uber, H&M, and Zappos.