General Catalyst, Summit, and Yuchun Lee To Take Clarabridge To Next Phase Of Growth
Rapidly growing Reston, VA based Clarabridge, announced on September 10, 2013 a $80 million round of capital. Founded in 2006, Clarabridge is a leading provider of customer experience solutions. The funding announcement is significant as Clarabridge:
- Invests into global expansion and product innovation. General Catalyst Partners, Summit Partners, and Yuchun Lee invests in the latest round . Clarabridge intends to apply the investment towards global expansion, accelerate product innovation, and execute strategic transactions. Key customers include B/E Aerospace, Best Buy, Charming Shoppes, Inc., Choice Hotels, Dell, Expedia, E.ON, Fidelity, Gaylord Hotels, Government of British Columbia, Intuit, J.D. Power, L’Oréal USA, Marriott International, PetSmart, QVC Inc., Sage North America, United Airlines, Walmart, Walgreens, and Wendy’s International.
Point of View (POV): With over 150% of revenue growth over the past 3 years, Clarabridge plans to expand beyond it’s latest entry into San Francisco and London. The CEM vendor has the opportunity to build out new geographical markets while expanding industry reach in auto, cpg, finance, healthcare, hospitality, insurance, manufacturing, pharma, restaurants, retail, technology, telecommunications and travel. Moreover, as the CEM space continues to evolve, Clarabridge now has a war chest to acquire new technologies or engineering talent as the market continues to expand and large legacy vendors acquire to consolidate.
- Brings on experienced investors and board level expertise. Previous board members included David Blundin of Link Ventures, Don Raine of Grotech ventures, John Glushik of Intersouth Partners, Jonathan Perl of Boulder Ventures, and Sanju Bansal COO of MicroStrategy. Larry Bohn of General Catalyst Partners and Tom Jennings of Summit Partners will join as part of the board. Meanwhile, Yuchun Lee will serve as Chairman of the Board.
Point of View (POV): While the previous board and investors provided the initial catalyst to Clarabridge’s success, in order to take it to the next level, the company needed new energy and direction. David Blundin and Sanju remain on the board from the previous set of investors. With Yuchun as chairman, expect innovative approaches to partnerships, OEM relationships, and positioning of Clarabridge in a broader customer experience context.
The Bottom Line: Clarabridge Poised For Growth