Clootrack Raised $4 Million In Series A Funding
The Customer Experience Analytics Business Assists Brands In Understanding Target Customers
With ever-growing competition, companies now make use of customer experience metrics to shape their marketing campaigns. Clootrack, a real-time customer experience analytics tool, claims it has revolutionized how brands understand and predict customer behavior. And as a result, they aced their first round of funding.
Let’s get a big heaping dose of the inside scoop, shall we? Scroll!
What is Clootrack?
Clootrack is an AI-powered, real-time customer experience analytics platform. It assists businesses in enhancing their marketing strategies by measuring and providing qualitative customer priorities.
The platform examines various digital and private enterprise data resources to collect information from customer conversations, feedback, and reviews.
Some of the most significant sources for data include eCommerce websites, blogs, discussion forums, social media pages, and review websites. Clootrack also collects information from customer care tickets, open-ended Net Promoter Score surveys, and website or application feedback.
At this time, the firm is working with more than 150 customers in retail, direct-to-consumer, banking, automotive, travel, and mobile app-based services sectors. As of now, Clootrack executes its primary operations from India. However, the company is working to bring on clients from the United States and Europe.
The Announcement
Clootrack recently broadcasted its acquisition of $4 million in Series A funding, which was headed by Inventus Capital India.
The campaign also involved its previous investors, including IAN Fund, Unicorn India Ventures, Salamander Excubator Angel Fund, and Babu Sivadasan of Jiffy.ai.
Overall, the firm raised a cool total of $4.6 million.
How Clootrack Helps Businesses
Clootrack helps brands understand why their target customers stay or explore other options. Shameel Abdulla and Subbakrishna Rao founded the platform; both have a background in Information Technology.
Brands gain insight into customer satisfaction in the current market by studying metrics, such as the NPS (Net Promoter Scores) surveys. However, while this approach provides businesses with quantitative data, it fails to explain the statistics. Hence, the existing methods can be quite time-consuming, costly, and susceptible to errors.
Considering this, Clootrack gathers qualitative data on user experience from various platforms, which exposes brands to rich information regarding customer information.
According to Abdulla, customers tend to change brands because of the experience they receive. Therefore, if a company improves the experience and reduces churns by as little as five percent, it can increase its profits by 25% to 95%.
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