London, the UK-based provider of a Unified Customer Intelligence platform, Chattermill, raised USD 26 million in recent funding. The Series B round took place on December 6, 2022. Beringea led the financing for the firm. Meanwhile, DN Capital, Ventech, Runa Capital, btov Partners, and SVB joined in the funding. Besides, new investor Blossom Street Ventures invested in Series B.

Purpose of financing for Chattermill

With the latest capital injection from the Series B round, the London-based company aims to support its expansion plans.

It seeks to expand operations and business reach across regions such as Europe and the US. The company earlier raised USD 8 million in its Series A round. DN Capital led the financing back then for the firm.

What the co-founder of the company has to say

Chattermill co-founder and CEO Mikhail Dubov said, “Building a customer experience strategy for large businesses is incredibly difficult, and it must be data-driven. Today, CX plays a huge part in any business’s success – especially in these challenging economic times.”

Dubov further added, “We believe there is no other technology that can provide the level of efficiency and insight needed for CX teams. Our goal is that our AI is able to analyse over a billion pieces of customer feedback for our clients. Raising a Series B in the current economic environment can be challenging, and the fact we were able to raise this round is a huge testament to our product. This further validates the market demand for our vision and technology.”

What the investor has to add

Mark Sheperd, investment manager at Beringea, further added, “The current solutions in the [CX] market lack flexibility and accuracy when analysing this unstructured customer feedback across a wide range of sectors. Chattermill has, therefore, enabled a blue-chip roster of clients to tap into a ‘data gold mine’ that had previously been out of reach.”

About the company

Dmitry Isupov and Mikhail Dubov launched the company in 2015. Chattermill leverages artificial intelligence for customer feedback analysis across customer touchpoints for organisations. It seeks to harness customer insights at scale and boost customer loyalty as well as brand advocacy.

 It integrates machine learning with a deep understanding of a company and its customers, combining it with any system used to collect feedback. The company works with Customer Experience pioneers from a wide range of industries, such as HelloFresh, Just Eat Takeaway.com, Transferwise, Spotify and Uber.

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Jasleen Bhatia works as a content writer for VCBay News. She is pursuing her final semester in Bachelor of Business Administration from IIPS, DAVV. Driven by her keen interest in entrepreneurship and finance, she writes business-related articles.

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