Decibel Insight, a leader in digital experience analytics for enterprise businesses, has raised $9 million in Series A funding. Eight Roads Ventures led the round, with participation from John Simon, via his Ventureforgood investment entity. The financing coincides with the latest product release from Decibel, which provides customers including Lego, General Motors, Allstate Insurance and Gucci, with revolutionary new ways to measure digital customer experience.
UK-headquartered Decibel Insight has seen strong capital-efficient growth since its launch in 2014. It currently employs over 50 people in London, Boston and Denver and will use this first round of external capital to scale the business and drive continued innovation through data science. Decibel Insight reveals how individual customers interact with and experience websites and apps. Its analytics platform provides compelling reports, session replays, and detailed data visualizations showing which parts of a site are performing well, which parts are being ignored, where users are dropping off - and why. Powered by machine learning, Decibel’s technology tracks every customer journey and automatically surfaces any poor or unusual experiences.
Ben Harris, CEO of Decibel Insight said: “Our rapid growth into a leadership position, working with the world’s largest brands, is beyond our wildest expectations - and is testament to the quality of our technology. Decibel Insight fills a glaring gap in the enterprise marketing stack by exposing problems in the user journey in real time, helping clients earn millions of dollars in extra revenue. The additional capital and calibre of our investors will allow us to innovate in this space at an even faster rate.”
Michael Treskow, Partner at Eight Roads Ventures, will be joining the board and added: “Websites are the shop window into modern businesses and Decibel Insight gives businesses the ability to truly understand their users’ online behavior. We are excited to partner with this ambitious bootstrapped team as they transform how companies track and improve customer experience.”
John Simon added: “There are many things to love about the Decibel Insight team - differentiated technology platform and rapidly-growing business - but the one thing that stood out for me was how much customers love, and benefit from, the solution. We spoke with many incredible customers who raved about what an amazing and unique difference Decibel Insight made for their businesses with immediate and essential ROI; that spoke for itself.”