Latest round testament to company’s ongoing enterprise customer growth and industry acceptance of the Reputation Score as the new and improved NPS
REDWOOD CITY, Calif. — August 20, 2019 — Reputation.com, provider of the first and only complete cloud-based enterprise reputation and customer experience management platform, today announced it has raised approximately $30M in its recent equity financing. The financing is the second round of fundraising for Reputation.com since its pivot towards an enterprise business. Reputation.com sold off its consumer business in early 2018. This is the second round led by Ascension Ventures, at a significant premium to the last financing, which was joined by several new investors – Akkadian Ventures, Industry Ventures and River City Ventures – as well as Reputation.com’s A-list of prior investors – Kleiner Perkins, August Capital, Bessemer Venture Partners, Heritage Group and Icon Ventures.
“In today’s Feedback Economy, we’re seeing growing demand among brands in every industry for innovative ways to manage and take action on ‘Data in the Wild’ — the unstructured customer sentiment data that lives outside of NPS surveys,” said Joe Fuca, CEO. “Brands can’t rely on private surveys anymore, as more than 70 percent of consumers use information from reviews and social media to make purchasing decisions. As the leader in the ORM space, Reputation.com delivers the only platform that can gather and analyze feedback from all channels — structured and unstructured — collectively, providing actionable insights that lead to impactful CX improvements.”
Today, the Reputation.com platform is used by three of the top five automotive OEMs and more than 10,000 auto dealerships in the U.S. alone, with a growing base in Europe. Additionally, more than 250 healthcare systems — including three of the top five — and over 100 leading property management firms use the platform. Reputation.com is also gaining traction with other industries, including financial services, hospitality and retail services.
“Ascension Ventures is excited to deepen its partnership with Reputation.com as it enters its next critical stage of growth,” said John Kuelper, Managing Director at Ascension Ventures. “We’ve watched Reputation.com’s industry leading reputation management offering grow into an even more expansive CX platform. We’re seeing some of the world’s largest brands and service providers achieve terrific results by partnering with Reputation.com to analyze and take action on customer feedback — wherever it originates — at scale and in real-time. We’re excited to make this additional investment in Reputation.com as it continues to grow and expand its market leadership.”
Reputation.com’s proprietary Reputation Score is being recognized by many as the next-generation NPS and de facto standard for measuring customer sentiment. Expressed as a number between 0 to 1,000, Reputation Score is calculated using its patented technology and proprietary algorithms that collect and analyze data relevant to all factors influencing the health of a brand’s reputation. Reputation’s latest investment round comes as large enterprise brands like AutoNation, Banner Health, Hendrick Auto, and Banner Health and others are using Reputation Score as the one true measure of customer success. For example, over the July 4th holiday, AutoNation ran a series of successful TV commercials that touted their high Reputation Score and emphasized their focus on customer satisfaction.
“Reputation management has always been a priority to our business and continuing to lead within our industry is really a testament to each of our 26,000 associates who do everything to create a best-in-class experience for our customers,” said Marc Cannon, EVP & CMO at AutoNation.
Reputation.com’s Momentum Fueled by Innovation, Strategic Partnerships and Global Expansion
The company’s platform approach enables customers to consolidate multiple CX applications into a single environment over time, unifying fragmented sources of customer feedback and enabling increasingly more sophisticated. This platform approach has led to the company’s net revenue retention rate growing 124 percent over the last year. The company continues to forge strategic alliances with marquee-name brands, including Google, Facebook, JD Power, Amazon.com and web.com, among others. Altogether, these partnerships amplify Reputation.com’s credibility in the industry and provide new opportunities for innovation.
Consumer Feedback Drives Placement in G2 Crowd’s Leader Quadrant
Reputation.com recently earned a spot in G2 Crowd’s Leader quadrant for Online Reputation Management software for the enterprise. Determined by its large number of stellar customer reviews, the company ranked high in the small business, midmarket and enterprise segments across all eight categories, including Enterprise Feedback Management, Social Customer Service and Social Media Analytics. Reputation.com also outranked 36 vendors for Brand Data Management Software, which covers software that helps businesses manage location data and ensure online business listings accuracy. In this category, Reputation.com scored higher than all other vendors in Satisfaction, with 96% of users giving the company four or five stars.
Reputation.com and its integrated platform have also recently drawn a number of industry accolades, including:
- Globee Awards Gold Winner for the “Company of the Year Cloud Computing/SaaS/Internet” and “Most Innovative Company of the Year“
- Ranked among the top 40 percent of Inc. 5,000 Fastest Growing Private Companies in the U.S. Positioned as the 250 fastest-growing private software companies in the country
- Wealthfront’s Career Launching Companies List eHealthcare Leadership Award for “Best Native Mobile App”
- Stevie American Business Award Silver award for “Most Innovative Tech Company of the Year” and “Technical Innovation of the Year” and a Bronze award for “Sales and Customer Service Solutions Technology Partner of the Year”
Reputation.com, provider of the first and only complete cloud-based enterprise reputation and customer experience management platform that spans the entire customer journey – from finding a location on search, to conversion, to operational improvements that deliver a better customer experience.
The Reputation.com market-leading platform manages tens of millions of consumer reviews, surveys and social media interactions across hundreds of thousands of online points of presence for global companies in healthcare, retail, automotive, restaurants and others. To learn more, visit www.reputation.com.