Clarabridge Announces 50 Percent Year Over Year Revenue Growth for 2009
Product advancements and extensive customer and partner expansion drive continued success
Reston, Va. (Jan 25, 2010) – Clarabridge, the leading provider of text analytics software used by many Fortune 1000 companies to improve customer experience management (CEM), today announced a 50 percent year over year revenue growth for 2009, sparked by the acquisition of over 20 new customers, the release of three major new product enhancements, investment in deployment best practices, and the expansion of partner relationships.
Clarabridge extended its market leading position in the retail, consumer products, and travel/hospitality sectors and also achieved significant customer expansion in the telecommunications, financial services, healthcare, and consumer packaged goods sectors.
Existing customers expanded their use of Clarabridge solutions to include additional data sources such as social media and online sites, and deployed more insights to more users through more interfaces such as standardized customer feedback reports, ad-hoc analysis mechanisms and alert-based reporting. Recognizing the value of Clarabridge’s solutions, leading market research, platform, systems integration, and business intelligence partners also actively recommended and resold Clarabridge solutions in 2009. Existing partners Harris Interactive, Maritz Research, Teradata and Walker deepened their relationships with Clarabridge while several new partners began deploying, supporting, and integrating Clarabridge CEM solutions into their client offerings.
“Our continued growth last year underscores our commitment to providing unprecedented value to our customers by responding to their evolving needs in terms of product excellence, client service and business ROI,” said Sid Banerjee, chief executive officer of Clarabridge. “Our customers know that in a down economy it’s even more important to keep their customers loyal. Our text mining solution provides our own customers and partners the ability to deliver customer insights more quickly, at less cost and with extremely impactful business results.”
In 2009 Clarabridge rolled out support tools and templates to make it easier for customers and partners to deploy and use the Clarabridge solutions, offered market research services (through its partners) to help deepen the business insights available to its customers, and redefined and packaged training and implementation services to streamline and expand deployment efficiency. Clarabridge released a number of industry and application-specific starter packs, reporting templates, and a comprehensive set of customer experience implementation best practices cultivated from feedback and lessons learned from completing dozens of Fortune 500 enterprise-class implementations over the past four years. These initiatives support Clarabridge’s continuing goals to drive thought leadership and rapid time to value for its customers.
Specifically, Clarabridge launched three major product enhancements last year that included:
• Clarabridge Enterprise 4: Includes the addition of an Ad-Hoc Uploader, upgrades to the Natural Language Processing (NLP) and Sentiment Engines, new collaboration tools in the Classification Suite and built-in Early Warnings and Alerts. Clarabridge Enterprise 4 is the first text mining software designed specifically for CEM professionals that can quickly deploy to meet enterprise-sized demands for flexibility and performance, while also scaling to meet the needs of departmental deployments.
• Clarabridge Social Media Analysis (SMA): The industry’s first integrated solution that allows companies to integrate social media content into their existing internal enterprise feedback to create more useful customer analysis. It allows product management, customer service and other areas in the enterprise to draw upon social media data to further customer intelligence.
• Clarabridge Smart Response™: A fully integrated solution that allows a continuous stream of customer feedback and issues to be automatically analyzed, coded, routed, and adjudicated. The system also generates automatic customer-specific response letters that acknowledge the customers’ negative sentiments or frustrations, specific problems and suggestions, and if appropriate, attaches vouchers, coupons, or other forms of compensation.
An integral part of Clarabridge’s 2009 success can be also attributed to the collaborative insight provided by Clarabridge’s customers and partners at the company’s annual C3 Clarabridge Customer Connections users conference – a forum where they openly discuss and exchange techniques for using text analytics for customer feedback, outline best practices that drive CEM success across their businesses, and provide feedback on Clarabridge products. The feedback provided to Clarabridge helps it stay abreast of both its customer’s and partner’s changing needs and helps drive its strategic direction moving forward each year. The company has over 150 participants from over 60 companies worldwide attending this year’s annual conference, commencing today at Disney’s Yacht & Beach Club Resorts in Lake Buena Vista, Fla.
Clarabridge was also the recipient of several esteemed accolades in 2009, including:
• Red Herring Top 100 in 2009, a prestigious award honoring the year’s most promising private technology ventures in North America.
• Intelligent Enterprise’s 2009 Companies to Watch: Business Intelligence
• Hottest Buzz 2009 award by the Northern Virginia Technology Council.
• Washington Tech Titan for Clarabridge’s CEO Sid Banerjee, an award given by Washingtonian Magazine.
• Tech50 2009, awarded to the top innovators in technology in the Southeast by TechJournal South.
About Clarabridge:
Clarabridge is the leading provider of text mining software for customer experience management. Clarabridge provides Global 1000 enterprises an analytical view of text-based verbatims found in voice of the customer feedback channels such as call center notes, qualitative survey feedback, Web 2.0 content, online forums, social media sites, reviews, and customer warranty forms. As a result, businesses can improve marketing, product/service management and customer service delivery. Clarabridge is privately held with headquarters in Reston, Va. Clarabridge customers include AOL, B/E Aerospace, Capital One, Choice Hotels, Expedia, Gaylord Hotels, H&R Block, Intuit, Marriott International, Sage North America, United Airlines, Walmart and Walgreens. For more information, visit www.clarabridge.com.
