Vision Critical Secures US$20 Million in Growth Funding from Vistara Capital Partners
Investment to accelerate the next stage of rapid CXM growth
TORONTO and VANCOUVER, BC, July 23, 2020 /PRNewswire/ -- Vision Critical, a continuous customer insights solution provider, has received US$20 million in growth debt from Vistara Capital Partners. The investment will expedite Vision Critical's aggressive growth strategy and ambitious roadmap centered around delivering a market-leading Customer Experience Management (CXM) and insights platform.
"As customer retention becomes even more imperative in today's dynamic environment, Vision Critical's ability to allow companies to effectively engage with their customers and employees to unlock real-time feedback has become even more critical," said Kathleen Kaulins, Director, Investments at Vistara Capital Partners. "We have been very impressed by Vision Critical's new management team and are excited to partner with the company in this new chapter as they leverage their market leadership in customer insights to become a dominant player in the broader CXM industry."
Industry analysts, such as Gartner and Forrester, have recognized Vision Critical as a key player in the future of the CXM and Voice of Customer (VoC) markets. By uniquely combining deep insights from its historically award-winning digital insight community platform with broad feedback delivered by newly released solutions, Vision Critical's customer roster of top global brands, including Red Bull, LinkedIn, Condé Nast and Twitter, are empowered to make better business decisions and drive world-class customer experiences.
Since the start of 2020, with a new seasoned leadership team at the helm, Vision Critical has released a number of new customer-led innovations that advance the company towards becoming a global leader in the CXM market. The latest evolutionary product developments help global brands manage, monitor, and optimize experiences AND unlock meaningful insights.
Key highlights include:
- 25 Sparq enhancements - significant advancements to the company's flagship digital insights platform, including new AI, mobile and dashboard capabilities
- Touchpoint - a new application that enables brands to create quick and engaging interactions to gather feedback from broad customer bases
- NPS Accelerator - a powerful, flexible, and easy-to-use solution to help customers rapidly deploy NPS measurement
- Industry solutions - new vertical-specific packages to personalize improvements to experiences in real-time, such as Patient Experience for Healthcare providers
- Voice of Employee (VoE) solution - giving HR professionals the power to keep a pulse on employee engagement
- Virtual Incentives integration - providing brands easy ways to promote deeper engagement from insight community respondents
- Jumpstart - a streamlined onboarding program that provides a full launch experience for customers in just 5 days
"Vision Critical's customer base today is made up of hundreds of top global B2B and B2C brands, and we will continue to focus on that growth, as well as new partnership channels," said Ross Wainwright, CEO of Vision Critical. "I am confident that, with our long-standing track record of delivering deep and continuous customer insights, combined with our new product roadmap, there is an exciting future ahead as we drive CXM innovation for our current and future customers."
"Vistara Capital's growth debt solution allows us to continue our accelerated investment in a number of key growth areas for the business, while preserving and ultimately enhancing the value for our current shareholders," Ross continued.
Randy Garg, Founder and Managing Partner of Vistara Capital Partners, adds, "After being part of the initial formation of Vision Critical 20 years ago, it is very gratifying to come full circle and partner with the company during what is already shaping up to be a significant expansion phase for the business."
About Vistara Capital Partners
Headquartered in Vancouver BC, Vistara Capital provides highly flexible and less dilutive growth debt and hybrid debt-equity financing solutions for mid-late stage technology companies across North America. Founded, managed, and funded by seasoned technology finance and operating executives, "Vistara" (Sanskrit for "expansion") is focused on enabling the growth and expansion of its portfolio companies.
Additional information is available at vistaracapital.com.
About Vision Critical
Vision Critical is a continuous customer insights solution provider that enables organizations to drive better business outcomes while ensuring world-class customer journeys. By combining deep insight with broad feedback, Vision Critical empowers some of the most powerful brands in the world to improve the customer experience. Hundreds of leading brands including BuzzFeed, LinkedIn and Red Bull are building better products and fostering customer loyalty with Vision Critical. To learn more about Vision Critical, follow us on LinkedIn, Facebook, and Twitter, or visit us at www.visioncritical.com.
SOURCE Vision Critical
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