Wednesday, July 20th, 2016 | 5 min read
Today, we’re excited to share that Sprinklr has raised $105 million at a $1.8 billion valuation in a round led by Temasek, a large, Singapore-based investment firm focused on long-term value creation. Wellington Management Company LLP and EDBI, the corporate investment arm of the Singapore Economic Development Board, also participated in the round along with Sprinklr’s existing, world-class investors.
We’re in a new world of business. One that has been reshaped – then reshaped again – by the internet. By mobile. By social. This new world is unscripted, unpredictable, uncontrollable. Consumers don’t just consume. They mold. They promote. And they advocate and criticize with equal, and forceful, power.
Some businesses yearn for a world that once was. Others see the opportunity to transform their enterprise, putting customers at center of everything they do.
Our newest partners – respected investors in category-defining public and private companies – see this shift as an unprecedented opportunity for the world’s largest organizations to create more value for their customers (and themselves) through a new class of enterprise software that enables more human experiences at scale.
So do we.
Think back to a time not that long ago. You could walk into your local grocery store and be greeted by name. You’d be recognized instantly. And you’d be made to feel like you really mattered – because, well, you did.
But somewhere along the way, business changed.
That little grocery store became an international supermarket chain full of faceless customers. Humanity was exchanged for automation, process, and efficiency. Businesses stopped having real relationships with the individuals they were meant to serve – it simply wasn’t possible at global scale.
Then along came social.
Social media has given rise to a new breed of customers. Empowered and connected in ways that weren’t possible before, they’re accustomed to frictionless experiences – on-demand and on their terms. They expect to be understood not as data points, but as people.
Social has given rise to a new class of companies, too – disruptors that were born in this previously unimaginable world, and more traditional businesses that are rethinking everything to succeed in it.
Every large organization has a collection of legacy technology systems. They house valuable data about customers – information like purchase history and customer service interactions.
This well of data is essential, but it’s often locked within organizational silos and disconnected systems of record – far away from the various customer-facing teams that need it to deliver the instant and intuitive experiences customers expect. And it doesn’t paint a full picture of who the customer really is.
It doesn’t tell you what happens when the customer leaves the store or hangs up the phone. How she really feels about your brand. Or what she’s telling others on Facebook, Twitter, and beyond about her experiences.
In an age where customer experience is the new battleground and word-of-mouth is everything, global brands need a way to tap into these unstructured customer interactions. They need a new approach to building real customer relationships at scale – one that goes beyond traditional notions of “relationship management.” They need a foundation that models not just structured customer attributes like age and address, but one that also makes sense of and allows them to act on unstructured data, like a recent Instagram post or review on Yelp.
This is what our platform was designed to do. Purpose-built for an unstructured world, Sprinklr’s technology is helping 1,200+ global brands unearth and extract new value from their legacy systems. It’s uniting their marketing, customer care, and other customer-facing functions.
It’s becoming the underlying infrastructure for a rewired front office.
We started Sprinklr in 2009 because we saw something most didn’t. We believed social was destined to become a disruptive force that would forever change business. Even when others counted us out, we continued to chase that rainbow. Stubbornly and unapologetically.
I’m glad we did.
Today, more than half of the Fortune 50 and nine of the ten most valuable global brands use our platform to put customers at the center of everything they do. That’s a humbling position for any company – one that wouldn’t have been possible without the phenomenal customers, partners, investors, and Sprinklrites who share our vision.
For now, let’s celebrate this moment for what it is: another milestone in a long journey.
Tomorrow, it’s back to work.