Welcome!

News Feed Item

Medallia Receives $50M in New Funding to Meet Growing Market Demand for Software that Makes Companies More Customer Centric

The company that helps the Fortune 1000 improve customer retention and growth becomes one of Sequoia Capital's largest-ever investments with this round

PALO ALTO, Calif., Aug. 18, 2014 /PRNewswire/ -- Medallia® (www.medallia.com), the global leader in SaaS Customer Experience Management (CEM) solutions, today announced an investment of $50M from Sequoia Capital. The new infusion of funds will accelerate the company's fast growth. Since taking an initial investment from Sequoia two and a half years ago, Medallia has tripled its revenue and workforce, expanded its customer list to more than 500 brands, and completed key integrations, such as a recent one with Salesforce.

Medallia company logo

This rapid growth highlights a shift in the marketplace. Increasingly, customers make buying decisions based less on brands, which previously were a proxy for quality, and more on trusted information about a company's actual customer experience. Such information is now widely available through online user reviews, expert opinions, and other easily accessible word of mouth, even about B2B companies.

"To survive in this new environment, companies must deliver customer experiences that match their brand promises," said Medallia CEO Borge Hald. "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. To compete in the future, companies need to build the voice of the customer into their operating DNA today. Medallia's software lets companies do just that. That's why we're growing so fast."

Sequoia is the sole investor in Medallia and its total investment is now $105M, one of the largest in its history. "In creating a new market and establishing itself as the leader, Medallia has already achieved what most enterprises hope to do but very few accomplish," said Doug Leone, Sequoia partner and Medallia board member. "Their transformative impact on how the Fortune 1000 manages customer experience is a testament to their relentless user focus. We're privileged to continue to work with them to build an enduring company."

"We're delighted to continue working with Sequoia," said Medallia CEO Borge Hald. "Doug and Sequoia have been incredible partners, and we feel great about expanding our relationships with them."

Medallia will use the proceeds of the latest funding round to:

  • expand its SaaS platform to stay ahead of the exploding volume of customer feedback and customer information that's available both within businesses and outside them in social media;
  • enhance its text analytics engine to enable real-time root cause analysis of customer pain points;
  • grow its offices in the US, Argentina, and the UK, as well as its recently opened divisions in Germany, France, Hong Kong, and Australia; and
  • increase its cloud footprint to better accommodate its millions of business users across six continents and in 70 languages.

Medallia's customers generate more than $3 trillion in combined annual revenue and include recognizable brands such as Shell, Marriott International, Nordstrom, Airbnb, The LEGO Group, and CA Technologies. These brands rely on Medallia to systematically embed the voice of the customer throughout their organizations to either remain among — or start to become among — the world's most successful customer-centric businesses.

About Medallia
Medallia® is the Customer Experience Management company that is trusted by hundreds of the world's leading brands, including Four Seasons, GE, Macy's, Sephora, and Zurich Insurance. Medallia's Software-as-a-Service (SaaS) application enables companies to capture customer feedback everywhere the customer is (Web, social, mobile, and contact center channels), understand it in real time, and deliver insights and action everywhere—from the C-suite to the frontline—to improve the customer experience. Founded in 2001, Medallia has regional headquarters in Silicon Valley, London, Sydney, and Buenos Aires. Learn more at www.Medallia.com and follow us at blog.medallia.com, Twitter.com/Medallia, and Facebook.com/MedalliaInc.

©2014 Medallia, Inc. Medallia is a registered trademark of Medallia, Inc. Other brand names may be trademarks of their respective owner(s). Information is subject to change without notice. All rights reserved.

Contact:
Michelle de Haaff, Medallia, (650) 321-3000, [email protected]
Lisa Hawes, Sterling Communications, (408) 884-5155, [email protected]

Logo - http://photos.prnewswire.com/prnh/20130314/SF76927LOGO

SOURCE Medallia

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
With 15% of enterprises adopting a hybrid IT strategy, you need to set a plan to integrate hybrid cloud throughout your infrastructure. In his session at 18th Cloud Expo, Steven Dreher, Director of Solutions Architecture at Green House Data, discussed how to plan for shifting resource requirements, overcome challenges, and implement hybrid IT alongside your existing data center assets. Highlights included anticipating workload, cost and resource calculations, integrating services on both sides...
In his session at @DevOpsSummit at 19th Cloud Expo, Yoseph Reuveni, Director of Software Engineering at Jet.com, will discuss Jet.com's journey into containerizing Microsoft-based technologies like C# and F# into Docker. He will talk about lessons learned and challenges faced, the Mono framework tryout and how they deployed everything into Azure cloud. Yoseph Reuveni is a technology leader with unique experience developing and running high throughput (over 1M tps) distributed systems with extre...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet a...
Big Data engines are powering a lot of service businesses right now. Data is collected from users from wearable technologies, web behaviors, purchase behavior as well as several arbitrary data points we’d never think of. The demand for faster and bigger engines to crunch and serve up the data to services is growing exponentially. You see a LOT of correlation between “Cloud” and “Big Data” but on Big Data and “Hybrid,” where hybrid hosting is the sanest approach to the Big Data Infrastructure pro...
In his session at 18th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., and Logan Best, Infrastructure & Network Engineer at Webair, focused on real world deployments of DDoS mitigation strategies in every layer of the network. He gave an overview of methods to prevent these attacks and best practices on how to provide protection in complex cloud platforms. He also outlined what we have found in our experience managing and running thousands of Linux and Unix ...
Cloud analytics is dramatically altering business intelligence. Some businesses will capitalize on these promising new technologies and gain key insights that’ll help them gain competitive advantage. And others won’t. Whether you’re a business leader, an IT manager, or an analyst, we want to help you and the people you need to influence with a free copy of “Cloud Analytics for Dummies,” the essential guide to this explosive new space for business intelligence.
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
Choosing the right cloud for your workloads is a balancing act that can cost your organization time, money and aggravation - unless you get it right the first time. Economics, speed, performance, accessibility, administrative needs and security all play a vital role in dictating your approach to the cloud. Without knowing the right questions to ask, you could wind up paying for capacity you'll never need or underestimating the resources required to run your applications.
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
"Software-defined storage is a big problem in this industry because so many people have different definitions as they see fit to use it," stated Peter McCallum, VP of Datacenter Solutions at FalconStor Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
IoT generates lots of temporal data. But how do you unlock its value? You need to discover patterns that are repeatable in vast quantities of data, understand their meaning, and implement scalable monitoring across multiple data streams in order to monetize the discoveries and insights. Motif discovery and deep learning platforms are emerging to visualize sensor data, to search for patterns and to build application that can monitor real time streams efficiently. In his session at @ThingsExpo, ...
The best-practices for building IoT applications with Go Code that attendees can use to build their own IoT applications. In his session at @ThingsExpo, Indraneel Mitra, Senior Solutions Architect & Technology Evangelist at Cognizant, provided valuable information and resources for both novice and experienced developers on how to get started with IoT and Golang in a day. He also provided information on how to use Intel Arduino Kit, Go Robotics API and AWS IoT stack to build an application tha...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...