Case Study:
Clarabridge
Customer experience management SaaS
Provides an omnichannel Customer Experience Management (CEM) SaaS platform, serving hundreds of the world’s most recognized companies and brands
With industry-leading technology, has driven market expansion and enterprise adoption with a high growth, capital efficient business model
Acquired by Qualtrics in 2021 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 Helped
- Led $80 million equity investment in 2013 in partnership with Summit Partners Executive Advisor Yuchun Lee, who joined Clarabridge as Chairman of the Board
- Sourced and helped to integrate two acquisitions
- Assisted in recruiting CEO Mark Bishof 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 has 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 rely on Clarabridge to uncover actionable insights from every customer interaction. Through highly sophisticated Natural Language Understanding that spans 23 languages and more than 150 industry models, Clarabridge helps organizations discover how easy or challenging it was for a customer to accomplish their goal, the intensity of a customer's feelings about the experience and how that experience is likely to affect their willingness to do business with the company again. Clarabridge is widely recognized by customers and third-party analysts as a leading technology for analyzing and operationalizing customer interaction data.*
Clarabridge is the only vendor included (and recognized as a Leader) both in Forrester’s Q2 2021 Customer Feedback Management Platforms and Q2 2020 AI-Based Text Analytics Platform reports.
