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TheyDo snaps $34M funding to transform customer journey management

TheyDo snaps $34M funding to transform customer journey management

TheyDo, a leading journey management platform, has secured an additional $34 million in funding. This investment round, led by Blossom Capital with participation from existing investors and new strategic partners, will accelerate the startup’s mission to establish journey management as the core business transformation tool. 

Moreover, the round will enable the company to increase R&D, focus on AI and data ingestion, and build out its customer-facing team in the United States.

Last year, Dublin-based EdgeTier, a company specialising in AI-powered solutions to enhance customer experience in contact centers, had successfully raised €6 million in a Series A funding round.

What is TheyDo all about

TheyDo, founded in 2019, aims to address the limitations of traditional transformation programs that often prioritise internal efficiency over customer experience. Jochem van der Veer, CEO and Co-Founder of the company, emphasises the high cost of misalignment between internal processes and customer needs. He highlights the company’s ability to provide a single source of truth for customer journey data, enabling teams to prioritise initiatives that create real customer and business value. He states, “What’s most exciting about our growth is we’re fostering a movement of journey-centric companies.”

TheyDo differentiates itself from journey mapping tools and journey analytics solutions by offering an action-oriented approach. Unlike static map applications, this company integrates a workflow that captures insights, prioritises opportunities, and facilitates delivery across a multitude of customer journeys. This holistic approach streamlines decision-making and ensures all teams are aligned towards a common goal.

Triple Diamond Framework: CEO explains

Traditional transformation programs often overlook the customer perspective, leading to misaligned strategies and wasted resources. TheyDo’s solution tackles this head-on by providing a unified platform that aligns teams around the customer journey. 

As Jochem explains, “Every year companies waste millions of R&D and marketing budget on launching things that customers don’t need, want or use. This misalignment is caused by working inside-out, vs taking an outside-in perspective.”

TheyDo’s core framework is based on the ‘Triple Diamond’ model from service design thinking. This framework emphasises three key phases:

Problem Discovery: Identifying core customer experience issues through research.
Solution Discovery: Defining solutions to address the identified problems through brainstorming and validation.
Development: Implementing prioritised solutions and measuring their impact.

TheyDo integrates these stages into the customer journey map, allowing businesses to connect their work directly to business goals and customer desires.

TheyDo and the competitive landscape

The Amsterdam-based company positions itself as a pioneer in the journey management space. While competitors exist in journey mapping (e.g., Smaply, UXpressia) and journey analytics (e.g., Qualtrics, Medallia), TheyDo emphasises its unique offering of a workflow-driven system for prioritising actions. Existing analytics solutions often present data in dashboards, but lack the ability to translate insights into actionable steps. This startup bridges this gap by helping businesses understand the “why” behind customer behaviour and prioritise solutions aligned with both customer needs and broader business objectives.

TheyDo’s existing integrations with Qualtrics demonstrate its commitment to seamless data exchange with experience management platforms. Future plans include expanding integrations to Adobe and Medallia, while also focusing on enabling direct connections to customer data warehouses.

Ophelia Brown, Blossom Capital, said, “TheyDo’s acceleration has been very impressive. Since our initial investment, there’s been very clear acceleration in market demand by large enterprises. TheyDo has pioneered this category and its product only compounds in value as they are fast adding new features.”

A solution for businesses of all sizes

TheyDo recognizes the needs of businesses beyond large enterprises. A freemium model allows smaller companies to explore journey mapping functionalities at no cost. Paid plans, starting at $65 per journey per month with a minimum of 50 journeys, cater to businesses requiring advanced management features and strategic decision-making capabilities.

Growth and looking ahead

TheyDo boasts impressive growth, exceeding the “triple twice, double three times” model popularised by venture capital firm A16Z. While specific revenue figures are not disclosed, the continued investment from established players in a challenging economic climate underscores TheyDo’s traction and rapid adoption among Fortune 500 companies.

TheyDo’s $34 million funding round positions the company as a leader in the journey management revolution. Its focus on bringing customer journeys to life through actionable insights and a data-driven approach positions it to empower businesses of all sizes to achieve customer-centric transformation.

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