AFTER EXCEEDING FIRST-YEAR GOALS, CLARABRIDGE SECURES $7.2 MILLION IN NEW FUNDING
January 23, 2007 00:00 AM
Clarabridge, a text-mining software company, today announced that it has secured $7.2 million in funding. Intersouth Partners led this round, with participation from all of Clarabridge’s previous investors. Clarabridge will use the new financing to boost sales and marketing operations, broaden customer service and support capabilities and continue to innovate product functionality to better serve existing and new vertical markets.
Clarabridge provides quick-to-implement, simple-to-use software solutions that enable companies for the first time to analyze unstructured information (such as comments and complaints from web blogs and call-center notes) alongside structured transactional information. Customers use Clarabridge’s products to more quickly and precisely detect customer needs, issues and opportunities and, ultimately, better serve their own customers. Clarabridge’s Content Mining Platform™ (CMP) solution works seamlessly with an enterprise’s deployed business intelligence (BI) tools and demands no additional training of a customer’s business users.
“We believe the ability to mine all external and internal unstructured text is going to fundamentally change the way businesses operate,” said Don Rainey, partner with Intersouth Partners. “Our investment reflects Intersouth’s belief that Clarabridge is aggressively tackling this real business need and is the market leader in ‘operationalizing’ this capability.”
Clarabridge previously raised $3 million in venture capital, led by Boulder Ventures, bringing the company’s total amount raised to date to more than $10 million. Since spinning off from Claraview as an independently operated company in January 2006, Clarabridge has forged key partnerships with leading BI vendors such as Cognos, Business Objects and MicroStrategy and gained customers in manufacturing, healthcare, advertising, financial services, retail, government and other industries.
“We exceeded our first-year goals, and this new round of funding reaffirms our business plan and solution strategy,” said Sid Banerjee, chief executive officer and co-founder of Clarabridge. “Just as business intelligence solutions transformed the way businesses tracked, managed and improved corporate performance over the past decade, we believe that unstructured data mining and analysis solutions will transform companies’ ability to predict trends, optimize the customer experience, and create high-performance, competitive organizations in the future.”
Clarabridge is the leading provider of sentiment and text analytics software for customer experience management. Clarabridge provides Global 1000 enterprises with universal views of their customers through automatic collection, classification, sentiment analysis, and reporting on text-based verbatims found in voice of the customer feedback channels. The result is improved marketing, product/service offerings, operations and customer service. Clarabridge customers include AOL, B/E Aerospace, Capital One, Choice Hotels, Expedia, Gaylord Hotels, H&R Block, Intuit, Marriott International, Nissan, QVC, Inc., Sage North America, United Airlines, Walmart, Walgreens, and Wendys International. Clarabridge is privately held with headquarters in Reston, Va. For more information, visit www.clarabridge.com.