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Sequoia sinks $35m into customer feedback company Medallia

27 Sep 2012

Sequoia Capital has made a $35m investment in customer feedback software maker Medallia to help the company advance its product.

Doug Leone, a partner at the California-based firm, will join the Medallia board as part of the deal alongside former Parametric Technology Corp CEO Steve Walske.

Leone said, “More and more companies are realizing that gathering and responding to customer feedback in real time is a major competitive advantage.

“When we began to search for tools to help companies improve their customers’ experience, it quickly became clear that Medallia has the best product, the best team, and the most satisfied users in the industry.”

Medallia collected more than 30 million completed customer surveys last year covering over 100 brands, including Four Seasons, Sephora and Toyota Financial Services.

Company CEO Borge Hald said, “This investment will accelerate our ability to help more companies improve their customer experience.

“Our focus is helping companies act on social feedback, and our solution routes reviews and comments to the right location so companies can respond personally to customers.

“Since Medallia’s social solutions can be fully integrated with surveys we collect across customer stores, call centers, and websites, we expect rapid adoption.”

Earlier this year Sequoia joined frequent venture partners Accel to make their largest-ever co-investment, a $70m funding deal for research company Qualtrics.

The cash will be supplemented by the pair offering their expertise to the company, which said it plans to expand its software services beyond market research and accelerate its global growth.

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