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SaaS-based real-time customer sentiment mapping and experience analytics startup, Cloudcherry has reportedly raised $6 Mn (INR 40 Cr) from Vertex Ventures, IDG ventures and Cisco Investments. These venture firms will also have a minority stake in the company.
The funding will be used to expand its business outside India in potential markets including US, Southeast Asia, and West Asia.
Founded in 2013, by Vinod Muthukrishnan, this startup collaborates with brands to help them track, measure, and improve customer satisfaction, and at the same time also provide real-time analytics for different departments of the company through its products.
Talking about the investment, Vinod Muthukrishnan, COO and founder, Cloudcherry said, “The company is looking at expanding its footprint in the North American market and will also enter the Southeast Asian market. The Series A funding is all primary capital and none of the existing angel investors will exit through this round.”
According to an official statement, this funding raised by Cloudcherry is the largest Series A funding by a SaaS startup this year.
At present, CloudCherry works in BFSI, retail, ecommerce, healthcare, manufacturing, and hospitality sectors. With its platform, users can discover the key metric of customer experience, capture feedback and gather real-time customer insights, and get notified in real-time to intervene immediately and fix any issues.
In July 2015, Cloudcherry raised seed funding of about $1 Mn (INR 6 Cr) from The Chennai Angels (TCA) and IDG Ventures India.
This development was reported by Dealstreet.
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