FullStory raises $103M in Series D at $1.8B valuation from Permira

SaaS News - FullStory-nabs-$103M-for-customer-experience-analytics (source: SaaS Industry)

At a Glance

Digital experience intelligence (DXI) provider FullStory has raised $103M in an oversubscribed Series D round at $1.8B valuation to expand internationally and enhance its DXI platform to help companies in building their digital products and services across various teams, ranging from customer success to product

FullStory, a provider of digital experience intelligence (DXI) platform for product, development, marketing and customer support teams, has announced an oversubscribed Series D fundraise of $103 million at $1.8 billion valuation from Permira’s growth fund to expand its product and itself. 

In Dec 2020, FullStory had raised an undisclosed sum in a venture round and in May, it raised $10 million. The company’s Series C funding came in 2019, where it netted $32 million. In a press release, FullStory stated that other and existing investors – Kleiner Perkins, GV, Stripes, Dell Technologies Capital, Salesforce Ventures and Glynn Capital – participated in the funding round. 

FullStory, founded in 2014, provides a platform to help businesses improve their digital customer experience across sites and apps. With growing digitization, FullStory aims to meet the digital experience requirements, combining analytics, privacy, security and collaboration capabilities. The company provides a customer experience data app that captures customer experience data in one powerful and easy-to-use platform.

Scott Voigt, founder and CEO of FullStory, stated that customers worldwide leverage FullStory’s software to perfect their digital experiences, create customer delight and drive business value, and added,

Combining robust behavioral data with powerful machine learning (ML) strategies and heuristics, FullStory surfaces experience-enhancing opportunities that could never be found through traditional analytics, customer feedback, or usability testing. We will continue to aggressively innovate privacy-first platform capabilities that empower global companies to bring a better version of the digital experience to life,

Scott Voigt, founder and CEO of FullStory

Bruce Chizen, a senior advisor at Permira, who has joined the FullStory Board post the Series D round, stated that today, traditional analytics had been upended by AI and ML, which can uncover nuanced patterns and anomalies in customer behavior. Lauding FullStory, he added,

Leveraging both structured and unstructured data, FullStory has rapidly established itself as the market and technology leader in DXI and is now the fastest-growing company in the category and the de facto system of record for all digital experience data.

Bruce Chizen, a senior advisor at Permira

Apart from international expansion, FullStory would use the proceeds from the fund to enhance its platform to help companies build better digital products and experiences across web and mobile channels, and provide real-time analytics and insights to various teams within an organization.

Alex Melamud, senior investment professional at Premira, who lead the investment on behalf of the investment firm, expressed delight at partnering with FullStory and added, 

We are very excited to partner with the FullStory team as they continue to expand and build a truly extraordinary technology brand that improves the digital experience for all stakeholders.

Alex Melamud, senior investment professional at Premira
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