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Clootrack, a customer experience company, just raised $4M in a Series A investment led by Inventus Capital India. Clootrack is a real-time customer experience analytics tool that assists organizations in determining why customers stay or leave.
Clootrack, a customer experience startup, has announced that it has raised $4 million in a Series A funding round led by Inventus Capital India. Other participants include Unicorn India Ventures, IAN Fund, Salamander Excubator Angel Fund, and an individual investment from Babu Sivadasan, CEO of Jiffy.ai.
Most of the new investment will go into product development, ensuring that all data aggregations from conceivable touchpoints are collected. Shameel Abdulla‘s, Clootrack’s co-founder, ultimate goal is to become “the one-stop-shop for B2C businesses.”
Clootrack is a real-time customer experience analytics software that helps businesses determine why consumers stick around or leave. Shameel and Subbakrishna Rao, both IT professionals, co-founded the company in 2017 after meeting at Jiffstore, Shameel’s second company, bought in 2015.
Customer satisfaction measures like Net Promoter Score are commonly used by business-to-consumer and consumer businesses to assess the customer experience. Still, Shameel claims that current approaches don’t reveal the “why” of such experiences and are slow, expensive, and error-prone.
The number of channels has increased, which means customers are talking to you, expressing their feedback and what they think in multiple places. Word of mouth has gone digital, and you basically have to master the art of selling online.Shameel Abdulla, co-founder and CEO of Clootrack
Clootrack converts customer experience data from all of those first- and third-party touchpoints — website comments, chatbots, and so on — into granular, qualitative insights that allow organizations to see experienced drivers in hours rather than months, allowing them to remain on top of fast-moving trends.
In the fields of retail, direct-to-consumer, banking, automotive, travel, and mobile app-based services, the company presently works with over 150 customers. Its revenue is increasing at a rate of nine times every year. Clootrack is primarily based in India, although it also onboards businesses in the United States and Europe.
Parag Dhol, managing director of Inventus
Clootrack has a very complementary team with Shameel being a complete CEO in terms of being a sales guy and serial entrepreneur who has learned his lessons, and Subbu, who is good at technology. As CMOs realize the value in their unstructured data inside of their own database of the customer reviews and move to real-time feedback, these guys could make a serious dent in the space.