"True investor partnerships are hard to come by these days, and Summit Partners has come through for Clarabridge in so many ways."
Clarabridge provides an omnichannel Customer Experience Management (CEM) SaaS platform that grew to serve hundreds of the world’s most recognized companies and brands. With industry-leading technology, the company drove market expansion and enterprise adoption with a high growth, capital efficient business model. In 2021, Clarabridge was acquired by Qualtrics for $1.1 billion.
Clarabridge was founded in 2006 with a mission to aggregate and analyze customer interactions and feedback across communication channels and deliver actionable insights to brands and enterprises. The volume and complexity of customer touchpoints has grown substantially, and customers frequently engage across multiple channels. To drive customer engagement and satisfaction, enterprises and brands seek to deliver consistent, relevant and personalized experiences at each touchpoint.
How Summit Partners Helped
- Led $80 million equity investment in 2013 in partnership with Summit Executive Partner Yuchun Lee, who joined Clarabridge as Chairman of the Board
- Sourced and helped to integrate two acquisitions
- Assisted in recruiting Mark Bishof as CEO to partner with Clarabridge founder, Sid Banerjee, in leading the company through a new phase of growth
- Worked closely with management to refine go-to-market strategy, engaging Summit Partners’ Peak Performance Group and Technologist-in-Residence to provide hands-on support and strategic guidance
Over the course of Summit Partners’ investment, Clarabridge continued to scale and innovate. The company’s AI-powered conversational analytics capabilities are designed to ingest and review massive volumes of indirect customer feedback, captured from unstructured sources including social media, emails, support calls, chats and product reviews. Leading enterprises such as GM, Farmers, United Airlines, USAA, Bank of America, Expedia and United Healthcare relied on Clarabridge to uncover actionable insights from every customer interaction. Widely recognized by customers and third-party analysts as a leading technology for analyzing and operationalizing customer interaction data, Clarabridge was acquired by Qualtrics in 2021.
The Portfolio Company Executive quoted herein did not receive compensation for any statements regarding Summit Partners. However, since Clarabridge is a former portfolio company of Summit, this individual did receive general compensation in connection with his employment by the company. In addition, this individual is an investor in a Summit fund and may have conflicts arising from his past role with Clarabridge due to the company’s relationship with Summit.
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