Usermind Raises $23.5M in Series C Round led by Northgate Capital
Positions Usermind for Accelerated Growth and International Expansion
SEATTLE, Jan. 17, 2018 /PRNewswire/ -- Usermind, leader of the customer engagement hub category, today announced the close of a $23.5M Series C round led by Northgate Capital with follow-on investments from current investors Andreessen Horowitz, Menlo Ventures and CRV. Since emerging from stealth in 2016, Usermind has doubled its employee headcount, tripled its customer base and increased its total revenue tenfold. With this latest round, the company will open its first international office in Europe, as well as scale its sales and marketing teams to meet growing demand for its customer engagement hub platform.
With the investment, Northgate Capital Managing General Partner and CEO Hosein Khajeh-Hosseiny joins Usermind's board. Former Head of Global Private Equity Investments and current Advisory Board Member at McKinsey & Company, Khajeh-Hosseiny brings more than 20 years of in-depth knowledge and experience advising companies on the cutting edge of customer-centric digital transformation and customer journeys.
"Customer journey orchestration is critical for enterprise competitiveness, and we are very impressed with Michel and the team she has assembled to tackle this problem," said Dr. Khajeh-Hosseiny. "Usermind has the potential to become a category leader, and we are delighted to be able to work with them to achieve that goal."
Global 2000 enterprises are facing disruption from both startups and digital giants like Amazon moving into their incumbent businesses. To compete, enterprise customer engagement must focus on long-lived customer journeys versus one-off transactional interactions. Purpose-built for the enterprise, Usermind enables full-lifecycle journey orchestration by connecting and activating a business's heterogeneous technology stack (on-premise, cloud, and homegrown systems) to deliver personalized, data-driven customer experiences at scale.
"Usermind has been an amazing addition to our technology stack," says Mike Braund, Director, Marketing Operations at Tableau. "We drive more personalized, contextual customer experiences and amplify our marketing efforts with Usermind. It enables us to surface data from different systems and databases outside of marketing, and make it actionable in Eloqua."
"Customer experience is the new battleground. Customer experience leaders grow 20–30 percent faster than their peers," said Michel Feaster, Co-Founder and CEO of Usermind. "Global enterprises don't have the luxury of ripping and replacing their current technology infrastructure or rebuilding it all from scratch. Usermind is the missing ingredient in an enterprise's digital transformation, helping bridge the gap between a company's fragmented technology landscape and a unified customer experience."
About Usermind
Usermind's Customer Engagement Hub helps companies deliver highly personalized, data-driven customer experiences. With code-free integration, a unified record of customer data, and cross-system data mapping, companies can orchestrate customer journeys — omnichannel customer experiences based on a customer's current context and full interaction history. With Usermind's customer journey analytics, companies can get insight and immediately implement new processes to drive engagement, retention, and revenue. To learn more, visit https://usermind.com and connect with us on Twitter, LinkedIn and Facebook.
About Northgate Capital
Founded in 2000, Northgate Capital is a leading global private equity fund manager with offices in San Francisco, London and Mexico, and more than US$5 billion in committed capital. Northgate has built a platform of over 50 professionals across Europe, North America and Latin America. For more information, please visit www.northgate.com.
Press Contact
Lexy Quadracci, Revere PR for Usermind
lexy.quadracci@revereagency.co, 206-962-0911
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