FullStory, the ground-breaking software company that is transforming how leading consumer brands and growing SaaS companies understand and improve digital customer experiences, has closed $32 million in Series C funding. In addition to continuing to scale sales and marketing, the Atlanta-based company plans to direct funding toward further evolving their digital experience analytics platform into a first-of-its-kind engine for digital intelligence.
The Series C was led by Stripes, a new investor in FullStory and leading growth equity firm focused on software and consumer market leaders, including monday.com, Flatiron Health, GrubHub, Udemy and Upwork, among others. Dell Technologies Capital, another new investor, joined Stripes alongside GV (formerly Google Ventures), Kleiner Perkins, and Salesforce Ventures, all of whom have participated in prior funding rounds. The current $32 million investment brings FullStory’s total funding to $57 million.
Along with the funding, Ron Shah, partner at Stripes, joins the FullStory board of directors. Creighton Hicks, partner at Dell Technologies Capital, joins as an observer to the board.
According to Gartner, Inc., “Customer experience (CX) is emerging from organizational silos and is becoming a cross-organizational, board-level focus. Respondents to the 2018 Gartner Survey prioritized customer analytics as the No.1 investment to improve the customer experience.”
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“More and more, businesses realize that while traditional analytics are big on data, they’re short on answers, especially when it comes to solving for digital customer experiences,” said Scott Voigt, FullStory CEO and co-founder. “Top-down tools simply weren’t built to provide the insights companies need to surface—and solve—problems in the increasingly complicated realm of customer experience. FullStory aims to tell you when, where, and why you are losing CX-related revenue and operationalizes concern for the digital customer experience across organizations in a secure, scalable, and privacy-compliant way. The resulting insights are actionable, intuitive, real-time, and easy-to-access for organizations big and small.”
“We have been investing in leading software and consumer companies for many years now, and one of the unifying themes we have observed is that best-in-class players in every category invariably have a laser focus on digital customer experience,” shared Shah of Stripes. “As we got to know FullStory, we realized that they had a team and a technology platform of extraordinary scale and power that could meet exactly this growing demand. We believe FullStory has the attributes of a company poised to succeed in their market as innovative executives across the world realize that digital experience is a critical-path to revenue, and increasingly the primary way in which they engage with their customers in the modern economy.”
“Customer experience is top-of-mind for every company, no matter what size or industry,” said Adam Blitzer, EVP & GM Sales Cloud at Salesforce. “Every part of the business—from product teams to support, engineering, marketing, sales, and customer success—needs access into deep insights around digital customer experiences. FullStory’s technology provides intelligent insights for these companies to help drive customer success.”
Since early 2017, FullStory has seen a fourfold increase in their workforce, now totaling some 175 “FullStorians.” To support this expanding family, the company is preparing to move to their new Peachtree Road headquarters. FullStory’s new space is designed to encourage collaboration and provide the company with critical room to grow. FullStory plans to hire at least 100 employees over the next year.
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