US and India-based customer experience management startup CloudCherry has raised around ₹65 crores in the second round of series A funding. The round was led by US-based Pelion Venture Partners, it will also receive additional funds from existing investors including Cisco Investments, Vertex Ventures, and IDG Ventures India.
The funds raised will be used to grow business in North American and Southeast Asian markets, along with strengthening data science capabilities.
CloudCherry by Vinod Muthukrishnan, along with Vijay R Lakshmanan, Prem K Viswanath, and Nagendra CL in 2014. The startup provides a SaaS-based platform to enable flexible and customizable customer experience solutions for businesses.
The startup uses predictive tools to understand customer sales experience to provide enhanced customer experience. Among its long list of clients include Puma, Cisco, Salesforce, DBS Bank, among many others.
Talking about the investment, Vinod Muthukrishnan, Founder and CEO, CloudCherry, said, “We are excited to have a partner like Pelion who share our values, match our passion, and provide the know-how and network to help us accelerate our next phase of growth.”
He further added, “In less than two years, we’ve taken market share from older, established players; drawn attention and coverage from the leading analyst firms…In another 18-24 months, we may raise a significantly larger round.”
CloudCherry last raised $6 million in its first round of series A funding led by Cisco Investments and Vertex Ventures, with participation from existing investor IDG Ventures India in September 2016.
Among its competitors in the customer experience domain include Sequoia-backed Qualtrics, a customer experience software maker, and Medalia, SaaS-based customer experience and enterprise feedback software maker.