Kustomer Raises $60 Million Series E to Accelerate Transformation of Customer Service

Yesterday, we announced our $60M Series E funding round led by Coatue. I wanted to take a few minutes and talk about reimagining customer service and the future of Kustomer.

I’ve always been passionate about great customer experiences. I live it everyday in my personal life when buying from companies that make it easy to do business with them and I’ve founded three companies dedicated to changing the way businesses serve their customers.

Most importantly, I’ve seen that a maniacal focus on customer service wins every time.

Over the years, I have talked with hundreds of customer service leaders and although they have wanted to deliver exceptional customer experiences, their legacy ticket-centric technology solutions could not effectively enable these leaders to meet the expectations of today’s consumers – forget about exceeding those expectations.

So in 2015, my co-founder, Jeremy, and I started Kustomer to transform the customer service experience by making it more personal as well as less stressful and time consuming.

The Power of a Customer-Centric Platform

We believed that putting the customer at the heart of an intelligent, truly omnichannel solution would provide businesses the competitive edge they needed to succeed in an on-demand, experience-based world.

The Kustomer platform uses intelligence to automate repetitive, manual tasks and provide service agents unprecedented insight into a customer’s history. By unifying customer activity and interaction history from all of a company’s systems on the Kustomer timeline, agents have data-driven, actionable conversations without changing screens.

As a true omnichannel platform customers and agents can switch between different channels as needed during a conversation, while maintaining the context to progress conversations forward without customers repeating information. Kustomer supports seamless communication through email, chat, SMS, voice, WhatsApp, Facebook Messenger, and Twitter.

Continued Investment in our Product, Customers, and Global Expansion

We are on a mission to enable every business to deliver exceptional customer service. With our $60 million Series E funding round, we will dramatically accelerate our already aggressive plans to build on our unprecedented growth. This includes significant expansion of our global footprint, the launch of additional data centers around the world, and heavy investment in our product and engineering teams to drive even greater platform innovation.

Our R&D investment will speed up our rapid pace of platform innovation to help our clients increase customer satisfaction, build loyalty, and deliver standout service more efficiently than ever.

In particular, we will take the capabilities of recently announced KustomerIQ to the next level by infusing Machine Learning into all aspects of customer service, so clients can provide smart, personalized, and automated customer experiences. Additionally, by the end of the year, we will roll out next generation CRM functionality that will further establish Kustomer as the system of record for managing customer experiences and expand our clients’ ability to seamlessly work together across departments to service customers.

These innovations will further extend our technical advantage over outdated, legacy solutions and more importantly help our clients and their agents succeed.

World Class Clients

It’s my firm belief that Kustomer wins only if our clients win and we’re committed to investing in ensuring our clients have world-class support from us. I want to thank all of our clients who have joined us on this journey to reimagine customer service and look forward to continuing these partnerships in the years ahead.

Strong Support from the Best Investors

This round of funding was led by new investor, Coatue with participation from existing investors Tiger Global Management and Battery Ventures and brings our total funding to $173 million. I am honored to work with all of our investors. They are an elite group whose thoughtful insights and strong support has been critical to our rapid growth. And I am excited to now partner with Coatue who true believers in our mission and our ability to achieve it.

A Great Krew

Finally, I want to thank our employees. Without the commitment, tenacity, and intelligence of the Krew in support of our clients and the development of best-in-class technology none of this would be possible.

Even with our rapid growth and success to date we have much to do, but I am excited by the challenges ahead and the opportunity to make personalized, efficient, and effortless customer service a reality for businesses and consumers around the world.

Kustomer Raises $60 Million To Further Transform Customer Service

Series E funding round is led by Coatue with participation from existing investors Tiger Global Management and Battery Ventures

NEW YORK, NY — December 4, 2019 — Kustomer, the SaaS platform reimagining enterprise customer service, announced today it raised $60 million in Series E funding. This latest round of financing was led by Coatue with participation from current investors Tiger Global Management and Battery Ventures. Over the last 18 months, Kustomer has raised $161 million of funding across four rounds, bringing the company’s total funding to $173.5 million.

“Kustomer is transforming customer service as we know it. At a time when consumers want intelligent, personalized attention, the most forward-looking companies are turning to Kustomer to help them exceed expectations,” said CEO and Co-Founder Brad Birnbaum. “We are seeing rapid adoption over legacy brands like Salesforce and Zendesk and are in a position of strength across all key business metrics as we raise our Series E. With this latest fundraise, we plan to continue our global expansion and heavily invest to help our clients deliver exceptional customer service.”

“Kustomer’s differentiated, omnichannel approach is fundamentally reshaping the industry standard as trends in customer service continue to shift and consumers seek increasingly personalized interactions with brands,” said Coatue Co-Founder Thomas Laffont. “We look forward to working with Brad and his team as they continue to execute their strategic growth plan.”

Founded in 2015, Kustomer empowers businesses to succeed in today’s customer-first world. Kustomer’s comprehensive solution uses CRM and provides a single view of the customer journey, seamless omnichannel communications, and the ability to automate business processes and knowledge management. The company is powering satisfaction and loyalty for some of today’s most iconic, people-first brands, including Glossier, Ring, ThirdLove, Rent the Runway, Sweetgreen, Glovo, Away, and UNTUCKit.

“’Putting Customers First’ is the most important core value we have internally at ThirdLove and our objective is to listen to, respect and delight our customers, always,” said David Spector, Co-Founder at ThirdLove. “Since we switched to Kustomer, ThirdLove’s Fit Stylists and team managers finally have the ability to meet the personalized needs of our customers, however they want to communicate with us and across every channel. Our teams are more efficient and better trained, and our customers are happier – nothing makes me more thankful as a founder!”

During 2019, Kustomer delivered significant platform enhancements and innovation. Most recently, the company announced KustomerIQ, which embeds Artificial Intelligence and Machine Learning across the platform to enable companies to provide smarter, automated, and more personalized customer experiences. In September, Kustomer launched its first EU data center in Dublin to better serve its growing international client base. And by the end of this year, Kustomer plans to roll out next-generation CRM capabilities that will further establish the platform as the system of record for managing customer experiences.

Over the last quarter, Kustomer has also added three key executives. Gabe Larsen joined as VP, Marketing from Xant (formerly InsideSales.com). Mike Chapin, formerly of Knewton, will serve as VP, General Counsel, and Secretary. Tanya Livingstone also joins Kustomer from Knewton as VP, People. “As we look to the future and our next phase of growth, we are fortunate to have Gabe, Mike, and Tanya join us. These three leaders will play a big role in scaling our business for success as we plan to double our headcount in the next twelve months,” says Birnbaum. “I look forward to working with these talented executives and welcome them to the Krew.”

To learn more about Kustomer visit www.kustomer.com or reach out by email to info@kustomer.com

 
About Kustomer
Kustomer is the omnichannel SaaS platform reimagining enterprise customer service to deliver standout experiences – not resolve tickets. A customer-centric solution, Kustomer helps brands increase satisfaction and loyalty by empowering agents to engage customers in personalized, efficient, and effortless conversations. Today, Kustomer is the core platform of some of the leading customer service brands like Glossier, Ring, ThirdLove, Rent the Runway, Sweetgreen, Glovo, Away, UNTUCKit. Headquartered in NYC, Kustomer was founded in 2015 by serial entrepreneurs Brad Birnbaum and Jeremy Suriel, has raised $173.5M in venture funding, and is backed by leading VCs including: Coatue, Tiger Global Management, Battery Ventures, Redpoint Ventures, Cisco Investments, Canaan Partners, Boldstart Ventures and Social Leverage.

 
For Media Inquiries:
Cari Sommer
RAISE Communications
info@raisecg.com
 

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