UserZoom Raises $100 Million Funding Round Led by Owl Rock Capital to Build Out Experience Insights Management (XIM) Solution
Following sustained profitable hypergrowth in 2020, funding will fuel further expansion of XIM solution
UserZoom, the leader in Experience Insights Management (XIM), announces a $100M funding round led by Owl Rock. UserZoom will use the funding to build out the company’s proven XIM solution that helps businesses join the dots between their user experience (UX) and customer experience (CX) strategies, and get an org-wide view on their digital experience.
In today’s digital economy, designing great product experiences is a critical competitive differentiator. Unfortunately, businesses often silo their data in separate user and customer buckets, resulting in increased technical, process and data debt, and a fragmented end experience for customers and users. UserZoom’s XIM solution helps the world’s leading brands better understand and manage their digital experiences by gathering and combining insights between user experience (UX) and customer experience (CX) teams and strategies, leading to enhanced digital experiences that increase sales, and improve engagement and retention.
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“COVID-19 has led to a significant acceleration in consumers’ rate of digital adoption and their expectations for a seamless, convenient and personalized experience,” said Alfonso de la Nuez, Co-CEO and Co-Founder, UserZoom. “This investment, as well as our ‘rule of 40’ financial performance in 2020, is proof that businesses are waking up to the fact that traditional ways of designing and measuring digital experiences are no longer good enough. Today’s users and customers demand more, and leaders need the insights that UserZoom provides to allow them to quickly make confident, customer- and data-driven decisions across all stages of the product life cycle, pre and post-live, to stay in front of the competition.”
“In today’s digital economy, quality of experience is the driving factor that helps businesses retain customers and generate increased revenue,” said Pravin Vazirani, managing director at Owl Rock. “Despite this, many organizations are still unable to properly extract and manage the potential insights that lie within a customer journey. UserZoom helps enable companies to harness these insights and drive improved digital experiences.” Andy Lefkarites, an investor at Owl Rock said in a statement, “We see a tremendous market opportunity for UserZoom, which enables companies of all sizes and industries to continually enhance and prioritize their digital experience strategy. We are pleased to be able to support UserZoom with growth capital to enable them to seize that opportunity.”
UserZoom’s XIM solution equips organizations with everything they need to:
- Gather experience insights: Recruit participants across multi-method, multi-device and multi-stage experience research and testing to make high-impact design, product, and marketing decisions
- Build an agile research process: Test, measure and track experience from before design and development starts to during and after launch for the confidence to make bigger bets and faster strategic decisions
- Share experience insights: Structure, store, and share experience insights (XI) from multiple sources across the company to unlock the synergy of UX and CX strategies
- Demonstrate value: Connect experience insights to KPIs in a standardized and structured way to measure the impact of changing experiences and consumer expectations
- Partner with experts: Connect with UserZoom’s change management experts to advance experience insights strategy
UserZoom also announced the acquisition of EnjoyHQ, the market-leading experience insights hub, to bolster the company’s ResearchOps (ReOps) capabilities. EnjoyHQ allows researchers to centralize and organize customer feedback and research findings into a single location, helping teams to better consolidate and collaborate regardless of where that data originated from. This level of collaboration will help companies further move away from data silos, improving the level of insight gained, and ultimately, efficiently manage their research operations.
“Our acquisition of EnjoyHQ is yet another example of our goal to simplify and improve the XIM process,” said Andrew Jensen, SVP Product, UserZoom. “Our vision is to allow our customers to connect project insights from UserZoom with a broader CX & UX integrated experience insights hub, where thousands of users across the organization can conduct analysis, share feedback, and discuss proposals needed to create seamless experiences that drive business outcomes.” An integrated UserZoom and EnjoyHQ product will be available in the second half of 2021.