Clarabridge Concludes 2013 with 45 Percent Growth in Subscription Revenue
January 14, 2014 00:00 AM
Reston, VA – January 14, 2014 – Clarabridge, Inc., the leading provider of Intelligent Customer Experience Management (CEM) solutions for the world’s top brands, announced today that the company is closing out an outstanding 2013 with 45 percent growth in subscription revenue. Focused on driving the next phase of CEM with Global 5000 companies, Clarabridge introduced major product innovations, expanded its work with existing customers, secured a record number of new customers and completed a significant growth equity investment that will help power continued product innovation and global expansion.
“In the age of the customer, Clarabridge has been vital in helping us create an ‘outside in’ perspective from multiple customer listening channels,” said Matt Hadfield, Senior Manager, Customer Insights, United Airlines. “The team has enabled us to better listen to, analyze, and act on customer needs, wants and suggestions.”
2013 highlights for Clarabridge include:
New Customers, Customer Expansion and Engagement: Clarabridge added a record number of new customers in 2013 including Pella, Lenovo, DuPont, Orbitz, WestJet, CarMax and The Hartford Corporation. In addition to new customers, Clarabridge maintained a strong customer retention rate, exceeding 95 percent in 2013, and achieved dollar retention rates well above 100 percent as a result of strategic national and global expansion of deployments across enterprises including Walmart, Dell Inc., E.ON Energy, Intuit, L’Oréal Group USA, QVC, Inc., Sage Software and United Airlines.
Significant Equity Investment: To fuel continued product innovation and global expansion, Clarabridge secured $80 million in new funding from General Catalyst Partners, Summit Partners and Unica-founder Yuchun Lee. Proceeds from the investment are being used to aggressively invest in attracting key talent, increase sales and marketing programs and global reach, and enable strategic transactions to accelerate further growth.
Expansion of Operations: Clarabridge expanded its global operations into Latin America to bring Intelligent Customer Experience to new and existing customers in the region. Additionally, the company expanded its office facilities in London and San Francisco.
Robust Additions to the Team: Clarabridge expanded its executive ranks aggressively in 2013, bringing on Bas Brukx as Chief Financial Officer, Nithi Vivatrat as Chief Product Officer, Karl Knoll as General Counsel, Gabby Wong as Senior Vice President of Services, and Michael McDonald as Vice President of Sales, Western Region.
Product Innovation: 2013 saw the release of Clarabridge 6.1: “The Era of CEM Simplicity and Transparency.” This release introduced a wide range of intuitive dashboarding, alerting, and mobile deployment options for the enterprise, and also provided straightforward transparent pricing that is available at https://www.clarabridge.com/Pricing/. Clarabridge 6.1 simplified the products offerings by combining collaboration and engagement capabilities into one easy-to-use application, Clarabridge Act, giving companies an even easier way to monitor customer experience. Additionally, the company launched Clarabridge Go, a mobile application that gives companies the power of Clarabridge anywhere, anytime.
Industry Appreciation: Clarabridge was named a fastest growing company on “Deloitte’s 2013 Technology Fast 500” ranking. Additionally, Clarabridge 6.0 was selected as one of KMWorld’s “Trend-Setting Products of the Year,” the third year in a row Clarabridge has received this honor. The company was also named to Paul Greenberg’s CRM Watchlist 2013, recognized for having one of the most powerful analytics platforms in any venue and a story partnership network.
Strong Partnerships: Clarabridge continued to lead the CEM industry by leveraging its global partner programs with top solution providers including Accenture, Acumen, Convergys and Salesforce.
Cream of the Crop at C3: Clarabridge celebrated its fifth annual Clarabridge Customer Connections (C3) conference, the leading CEM user event. Focused on improving intelligent customer experience, C3 brings together hundreds of the world’s top CEM professionals from every industry, making it the premier customer experience event focusing on transforming attendees into “CEM Rockstars.” More than 400 attendees gathered at the Hard Rock Hotel in San Diego for a three-day event packed with case study presentations, hands-on workshops, and industry overviews from Clarabridge customers, partners, executives and analysts. C3 2014 will take place at the Fontainebleau Hotel in Miami, April 28-30th. To learn more visit www.clarabridgeC3.com.
“2013 was a year of significant investment for Clarabridge – investment in new products, marketing, sales coverage, and, most significantly, talent,” said Sid Banerjee, CEO of Clarabridge. “We grew our headcount by over 65 percent, and significantly expanded the executive leadership team, bringing on individuals with the experience, passion and vision to take Clarabridge to even further success in 2014 and beyond. I’m incredibly proud of Clarabridge’s evolution over the past eight years, and excited to see what 2014 holds for Clarabridge and the voice of the customer.”
Clarabridge is the leading provider of Customer Experience Management (CEM) powered through intelligent sentiment and text analytics. Clarabridge enables Global 1000 enterprises to achieve a universal understanding of their customers by automatically collecting, classifying, scoring sentiment and analyzing qualitative data found in Voice-of-the-Customer (VOC) feedback channels. Insights extracted result in improved marketing, product/service offerings, operations, and customer service across an organization. Clarabridge customers include B/E Aerospace, Dell, E.ON, Expedia, Fidelity, Gaylord Hotels, Intuit, J.D. Power, L’Oréal, PetSmart, QVC, Inc., Sage North America, United Airlines, Walmart, Walgreens, and Wendy’s International. Clarabridge is privately held with offices in Reston, VA., San Francisco, CA., Miami, FL and London, U.K. For more information, visit https://www.clarabridge.com.