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Sequoia reups Medallia backing with $50m investment

18 Aug 2014

medalliaVenture capital firm Sequoia Capital has invested a further $50m in cloud-based customer relationship management software provider Medallia.

The round nearly doubled the Palo Alto-based company’s fundraising total, bringing it to $105m.

Sequoia invested $35m in the company in September 2012, valuing it at $129m, according to Reuters.

Since securing its first investment from Sequoia three years ago, Medallia has tripled its revenue and workforce, while laos expanding its customer base to more than 500 brands.

Medallia CEO Borge Hald said, “To survive in this new environment, companies must deliver customer experiences that match their brand promises.

“They must listen and be accountable to their customers in real-time and in every part of their organizations, from the frontline to the C-suite, the way industry-disrupting newcomers, such as Amazon in retail, Uber in transportation, and Airbnb in hospitality, are.”

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