Raises $ 8 Million in Series A Funding
Squelch, Inc., provider of real-time customer experience optimization for customer support and customer success teams, launched from stealth with $8 million in Series A funding from Shasta Ventures and Correlation Ventures, which it will use to further product development and expand sales and marketing. The company concurrently announced general availability of its flagship SaaS product, which is designed to take customer satisfaction, retention and loyalty to the next level for Fortune 5000 businesses. In three clicks or less, Squelch queries traditionally disjointed data sets in the cloud and instantly serves up current, relevant intelligence to customer-facing agents at the precise moment of customer interaction, maximizing productivity and their ability to enhance and personalize every customer experience. Squelch seamlessly integrates with most SaaS-based applications, including Salesforce, Slack, Box, Confluence, Jira, OneDrive, and Google Drive.
“Customer satisfaction is the foundation for profitable and successful subscription and SaaS companies. Retaining existing customer subscriptions is as important as closing new customers,” said Ravi Mohan, Managing Director, Shasta Ventures. “We’re excited to partner with Squelch and invest in a smart application that will disrupt the customer success and support industry.”
Today’s customers have unprecedented access to purchasing options and information, and also expect a flawless experience every time they engage with companies – and they are willing to pay for it. In fact, a recent Walker study reveals that 86 percent of buyers will pay more for a product if they also receive a better customer experience. It’s no wonder that the customer experience management market is expected to reach USD 16.91 Billion by 2022.
Squelch co-founder and CEO, Jayaram Bhat, a 35-year software industry veteran, along with Giorgina Gottlieb, Squelch co-founder and Vice President of Marketing, and Ilan Raab, Squelch co-founder and VP of Engineering, developed Squelch to help enterprises meet customer expectations for a perfect experience.
Squelch equips customer support and customer success agents—who are on the front lines of resolving stressful customer issues on a daily basis—with insights on the customer’s journey and the best path to resolution of the customer’s ask. Since Squelch is designed from the ground up for customer support and success teams, it lives within familiar workflows agents utilize regularly. The cloud-based application also gets smarter with each use and goes above and beyond enterprise search and knowledge management tools by taking into account the way support and success agents interact with information, customers, and each other.
“Customer support and success agents spend way too much time looking for the information they need to deliver customer value. We founded Squelch to solve that problem and help these customer heroes provide a quality experience, starting with customer onboarding on day one through a trouble ticket on day one-thousand-and-one. Our solution also gives managers and stakeholders access to trends, analytics, and reports so they can gain deeper insights into how customer experience operations are influencing the bottom line. We all know that happy customers are profitable, repeat customers, and happy agents get you there,” said Jayaram Bhat, CEO of Squelch.
“Business success is going to be increasingly determined by the quality of the customer experience delivered. That’s what’s made CRM and associated applications a multi-billion dollar industry. But Squelch has identified a big gap in the customer experience architecture and the company is uniquely bridging that gap. And because Squelch can do this while seamlessly integrating into an organization’s existing environment, it adds value while increasing the ROI of the current IT infrastructure. Every business leader will find this compelling.,” said Patrick Saeger, a tenured customer success executive and industry advisor.
Customer Service That Meets the Demands of Today’s Educated, Always-on Customer
Squelch makes it fast and easy for customer support and customer success agents to access the information, best practices, reports and resources they need to win renewals, upsells and most of all trust and loyalty. The following Squelch innovations empower agents with in-the-moment information to positively impact a customer’s experience:
- Up-To-Date Data On-Demand: Squelch continually monitors and gathers data from all the sources agents use to serve customers including email, customer management and support solutions as well as team communication and collaboration tools, while creating a combined index to quickly and easily search issues and resolutions on-demand.
- Artificial Intelligence (AI) and Machine Learning: Squelch goes beyond most text-based search by applying a deep classification schema paired with auto-topic identification rules and machine learning algorithms that immediately recognize enterprise-specific objects and learn as users input queries. AI and machine learning allow Squelch to learn what information really matters within a company as well as how it all fits together. By providing this insight into how customers respond to products, Squelch helps showcase additional value within customer-facing teams.
- Ease of Use: Squelch’s low-friction install and out-of-the-box functionality with minimal training requirements result in delivery of ROI within minutes. When a customer reaches out to a company, Squelch helps to quickly address the issue by swiftly populating the right intelligence automatically into the dashboard the agent is already using. Customer agents can also easily expand any item within the dashboard, read the recommended digest, as well as give feedback.