1. SaaS startup CloudCherry set to expand globally, raises $6 mn in Series A funding

SaaS startup CloudCherry set to expand globally, raises $6 mn in Series A funding

Chennai-based CloudCherry, a software as a service (SaaS) based customer experience management start-up, is looking to expand its footprint in global markets, after its latest round of fund raising.

By: | Published: November 30, 2016 7:13 AM

Chennai-based CloudCherry, a software as a service (SaaS) based customer experience management start-up, is looking to expand its footprint in global markets, after its latest round of fund raising.

The start-up has drawn up plans to ramp up its sales and marketing in global markets, including APAC, Middle East and North America, using the newly-acquired capital. “We will also be investing in constant product development, in the development of our people, and bringing in new talent,” said Vinod Muthukrishnan, CEO and co-founder, CloudCherry.

Customer Analytics Technologies Inc, which owns CloudCherry, had in September 2016 raised Series A funding of $6 million from Vertex Ventures, Cisco Investments and IDG Ventures India.

Muthukrishnan said the company is on track for its global expansion

plans and is in the process of establishing thought leadership teams, strategic partnerships and technology integrations.

According to him, the global expanison will have a strong focus on the US, South East Asia and the Middle East markets. CloudCherry’s customer experience management (CEM) mplatform is enjoying success in Asia already, with many leading brands using the platform, he said. The product has also seen early wins in the North American markets.

CloudCherry was founded by Vinod Muthukrishnan, Vijay R Lakshmanan, Prem K Viswanath and Nagendra CL, with the support of angel investors Sriram Subramanian, Bala V Balachandran and Hariharan B.

CloudCherry provides an industry-leading omni-channel, SaaS based CEM platform that helps brands track, measure and improve customer experience.

Currently, CloudCherry works with brands in various sectors such as BFSI, retail, e-commerce, healthcare, manufacturing and hospitality. Some of the company’s clients include World of Titan, HDFC Bank, Central, Voonik and Caratlane. CloudCherry offers 17 channels to interact with customers, a real-time dashboard that the entire organisation can access to view key metrics and scores such as net promoter score.

“Most of our competition comes in the form of other products that offer only a part of what we do (feedback collection only, for instance) or are services-based (longer deployment times and not cost-friendly). We are the only one that offers a truly comprehensive, robust end-to-end platform that’s made for scale, vertical-agnostic and is one of the fastest to deploy. In fact, we can get your CEM process started in 60 minutes or less,” he said. “Discount wars or product battles aren’t the only aspects that a customer looks for in a brand. It is about great customer experiences. And those customer experiences needed to be managed. Which is why we decided to be the ones doing it.”

On options for inorganic growth, Muthukrishnan said, “This option is always open to us. However, it all depends on two key factors: the other party has either technology or talent or both that we would love to have, or they address our market with a complimentary product that will take us too much effort to build from scratch.”

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