Boulder-based company will use the growth capital to enhance its enterprise research platform with advanced automation and data integration capabilities.
Boulder, Aug 7, 2020 (Issuewire.com) - Tetra Insights, the qualitative data platform for customer insights, announced a new $1.5 million round in seed funding. The round is led by Active Capital, a top-tier seed firm for B2B SaaS companies outside of Silicon Valley, with other participants including HNVR Technology Investment Management, an early-stage venture capital firm in Menlo Park, CA.
"In a study of CEOs across industries, 39% report that customer experience is their number one strategic differentiator," said Michael Bamberger, Co-founder and CEO of Tetra Insights. "Accordingly, customer experience software spend has grown to over $160 billion annually. When it comes to insight solutions, most of that revenue goes to quantitative analytics companies. However, relying on quantitative data alone paints an incomplete, and oftentimes inaccurate, picture of customer experience. This causes a gap between how a business sees its customers and what customers actually experience. Tetra's solutions enable this valuable qualitative data to be used just as effectively as its quantitative data counterparts."
"Leading organizations are increasingly relying on qualitative data to generate deep customer insights," said Pat Matthews, CEO & Founder of Active Capital. "Tetra is building the solutions that modern insight-driven organizations require. Michael's years of experience as an entrepreneur working with large enterprises on innovation and product development provides a unique perspective of what data actually helps teams make great decisions. Tetra is positioned to be the leading enterprise solution for scaling qualitative data and insight."
"Michael and the team at Tetra have built a machine for turning voluminous video and audio into usable, searchable data no matter where it originated," said Joe Malchow, founding partner at HNVR. "Recording customer sessions is one thing. Making that data so instantly available that companies understand their customers holistically and win because of it is another -- that's what Tetra enables."
Global enterprises, including Yara International and unicorn startups such as Segment, rely on Tetra to power their qualitative insights practices. According to Colin Swindells, who heads research of digital products for professional agriculture at Yara, a 16,000-employee global crop nutrition company, deploying Tetra across his international team has "transformed how we use audio and video in our insights practices."
"User research is critical for our company to inform product and commercialization decisions," said Colin. "Tetra's solutions streamline our ability to parse hundreds of hours of audio and video per study to find the most meaningful user needs. Our global team of researchers can rapidly align their research efforts using Tetra's qualitative coding and universal search capabilities. Tetra's highlight reels allow us to convey powerful first-hand customer experiences to designers, product managers, commercialization specialists, and senior leaders."
"Tetra has been a game-changer for incorporating insights from qualitative research into our product," said Kevin Niparko, Product Lead at Segment. "User research has become an increasingly critical part of how we prioritize and design new product features, and Tetra allows us to find and share insights from this data in intuitive ways. Our team is now using Tetra to share these direct customer insights throughout our product development process."
Tetra's platform provides features and benefits designed for insight-driven enterprises, including:
- Single source of truth for all customer audio and video
- Upload and sync large video files from any source
- Robust research and insight repository
- Automated transcription for all uploaded files
- Intuitive search across all data, transcripts, and analysis
- Powerful analysis tools for professional researchers
- Automatically generated video highlight reels
About Tetra Insights
Tetra Insights builds technology that maximizes the value of qualitative data. Our platform empowers leading organizations by putting insights directly from customers in front of decision-makers. We're transforming decision-making by amplifying the reach of recorded customer interactions. Tetra is headquartered in Boulder, CO, and was founded by experienced research and data entrepreneurs. To learn more, please visit https://www.tetrainsights.com.
About Active Capital
Active Capital is a venture firm designed to lead seed rounds for B2B SaaS companies outside of Silicon Valley. The firm is founded and run by former B2B SaaS founders with hands-on experience starting, building, and scaling high growth businesses in underdog cities across America. Active Capital is headquartered in San Antonio, TX, and invests in B2B SaaS companies all over. To learn more, please visit https://www.activecapital.com.
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Source :Tetra Insights
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