Summit Partners, General Catalyst lead $80m round for Clarabridge


software2_lrgVenture capital firms Summit Partners and General Catalyst Partners have led an $80m funding round for customer experience management (CEM) software company Clarabridge.

Clarabridge said it will use the funding to expand its global operations and finance product development as well as step up its marketing efforts.

Over the past three years, the company saw its revenues surge 150 per cent, while recurring revenues increased 250 per cent.

Clarabridge CEO Sid Banerjee said, “Over the past eight years, Clarabridge has clearly established itself as the leader in the CEM space.

“This capital infusion will enable us to significantly increase our investment in our people, products, and processes, accelerate innovation, and ensure we power the future of customer experience analytics at all levels of the enterprise.”

Summit’s recent deals included its exit from UK-based mobile optimization software company Actix for $120m and an investment in electronic medical record system provider Modernizing Medicine.

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