Get Satisfaction Raises $6 Million in Series A Funding
Led by Azure Capital Partners, funding will help Get Satisfaction capitalize ongrowing momentum and continue its mission to build online communities that create meaningful conversations between companies and their customers.
San Francisco, Calif. – September 14, 2010 –
Get Satisfaction, the community-building platform that brings companies and customers together in direct conversation toimprove the support experience, develop better products and build brand loyalty, hasraised $6 million in Series A funding.Get Satisfaction was originally financed by O’Reilly AlphaTech Ventures (OATV), FirstRound Capital, SoftTech VC, Kapor Capital and Freestyle Ventures. This round was ledby Azure Capital Partners (investors in VMware, BlogHer and Bill Me Later) with OATVand First Round Capital participating. Cameron Lester, General Partner from Azure, joins Wendy Lea, CEO, Thor Muller, CTO and Co-founder, and Bryce Roberts,Managing Director from OATV, on Get Satisfaction’s board of directors.“Our investment in Get Satisfaction is based on a fundamental shift happening in theway that customers and companies interact on the web. Businesses of all sizes arelooking for new ways to attract, engage and retain their customers through onlineconversations,” said Azure's Cameron Lester. “The Get Satisfaction community platformenables companies to directly engage with their customers across all types of socialmedia, while amplifying their existing investments in customer relationship managementsystems.”With the funds, Get Satisfaction will expand its team, accelerate product and marketdevelopment and invest in strategic partnerships with digital agencies, CRM providersand distribution partners that serve the small to medium business segment.“Our momentum from organic and word of mouth growth has been amazing,” said GetSatisfaction CEO Wendy Lea. “This funding gives us the resources to aggressivelyextend our worldwide reach to companies of all sizes, eager to engage with theempowered online customer.”Get Satisfaction’s flexible platform helps companies address the fundamental challengeof social CRM:
What do I do with thousands of friends, followers and fans
? Exponentialgrowth in the conversations between customers and companies on Facebook andTwitter makes it that much harder to derive value without effective organization of andparticipation in those conversations. With Get Satisfaction, each customer expression (a search, tweet, blog post, websitevisit or Facebook “Like”) is a self-selected opportunity for customers to ask for help,share ideas, and give praise to brands they have passion about. Each form of expression is posted in the Get Satisfaction community and is an opportunity for peer topeer, as well as customer to company, engagement. Ultimately the engagement can beturned into actionable insight companies can use throughout product development,public relations, relationship marketing, brand management and customer serviceprocesses. The Get Satisfaction platform seamlessly connects with existing enterprisetools (from Salesforce.com’s Service Cloud to Zendesk) to make popular CRM solutions