The customer may always be right, but they often go unheard as more and more transactions are completed online. Capturing that feedback has immense value for businesses — that may be why Chicago-based ReviewTrackers just announced a $4 million funding round to boost development of its customer feedback platform.
The funding, led by American Family Insurance’s venture arm, brings ReviewTrackers’ total funding to $6.1 million. American Family Ventures also contributed to the company’s initial funding round back in 2014. Since that time, ReviewTrackers has tripled its revenue and headcount.
“The new financing will be used to accelerate the development of our software to meet the needs of our expanding enterprise-level customer base,” said communication head Mandy Yoh. “Many of our new features that we are rolling out are not readily available within other customer feedback platforms.”
ReviewTrackers now serves more than 25,000 business locations. Gains have come both from new customers and growth among existing users. Earlier this year, CEO Chris Campbell told Built In Chicago that ReviewTrackers is working on expanding beyond just reviews to give a better picture of customers’ experiences.
One thing this funding won’t be used for: a new office. Earlier this year, the company moved into its fourth office in three years and has no plans to move anytime soon.
“When we moved offices the last time, we made sure our current space could account for the growth we are experiencing and still plan to experience as the year continues on,” Yoh said.
The company already had hiring plans for everything from engineers to a vice president of sales before the funding, and it plans to continue adding to its nearly 40-person team as needed. However, this funding will mostly be used to focus on development.
Image via ReviewTrackers' Facebook