Explosion of Content, Technology Maturity and Greater Understanding of ROI for Monitoring Customer Experience Converge to Drive Success
Reston, Va. (January 21, 2008)—Clarabridge, a leading text analytics software company, today announced that it tripled its number of customers and grew revenues by 500 percent in 2007, making it the fastest-growing company in its market space.
Clarabridge saw adoption of its Content Mining Platform and Content Mining Service accelerate across industries including airlines, consumer packaged goods, entertainment, financial/insurance services, healthcare, hospitality, investigation, marketing services, pharmaceutical/life sciences, retail and technology. Clarabridge’s clients include Gaylord, H&R Block, Intuit, Lowe’s, Marriott, Oracle, Sage, TNS Global, The Gap and Gallagher Benefit Services Inc.
“Three trends have converged to drive our growth,” said Sid Banerjee, chief executive officer of Clarabridge. “First, there’s an ongoing explosion of valuable content available to companies across and beyond the enterprise. Second, technology in the text analytics space has matured; we offer true end-to-end solutions that are easy for personnel throughout an organization to use.
“Third, companies are becoming attracted to the undeniable return on investment seen in continually monitoring the total customer experience, and this is producing organic demand for text analytics across industries. With our solution, a company gains a true 360-degree view of customer desires, emotions and future behaviors—translating the true voice of the customer into a quantifiable, actionable piece of business intelligence.”
Before the introduction of text analytics, companies could only manually analyze a small percentage of the unstructured customer information they obtained through surveys, phone calls, email, Web sites and other means. Clarabridge enables a company to automatically quantify, analyze and integrate 100 percent of textual data generated from internal and external sources in real time. In July 2007, the Aberdeen Group estimated that unstructured information accounted for more than 85 percent of all data available to a company.
Most of Clarabridge’s new customers in 2007 elected to use the revolutionary Content Mining Service, the industry’s first software-as-a-service (SaaS) offering that securely delivers text analytics capabilities to enterprises via the Internet on a hosted, subscription basis.
Clarabridge’s accomplishments in 2007 were recognized with a variety of industry accolades:
-KMWorld Magazine in February named Clarabridge one of its “100 Companies that Matter In Knowledge Management.”
-In June, Clarabridge won a Stevie Award in The 2007 American Business Awards. Clarabridge was honored as Best Product Development Team.
-Clarabridge in October was named a finalist in the Fall 2007 “Recognized Innovator” awards by the Service & Support Professionals Association (SSPA).
-Clarabridge also was named a winner of an IntelligentEnterprise.com Editors’ Choice Award. Intelligent Enterprise honored Clarabridge as a “Company to Watch” in business intelligence.
Clarabridge in 2007 expanded its roster of partner providers of technology, market research, contact centers, system integration and enterprise search. Adamson Advertising, Business Objects, CallMiner, Claraview, Cognos, Endeca, MicroStrategy, Oracle, QL2 and Satmetrix are among the partners Clarabridge is working with to help Fortune 1000 customers make better business decisions and improve customer experience.
Success has translated into significant corporate expansion for Clarabridge. Employment grew 50 percent worldwide in 2007, with the company’s U.S. workforce tripling.
“This was a giant year for Clarabridge—and a watershed year for customer experience management,” Banerjee said. “We are now turning the corner in this industry from limited usage by early adopters to mainstream customer deployment across the Fortune 1000 spectrum. Text analytics is clearly emerging as a must-have tool in the enterprise solution stack.”
About Clarabridge
Clarabridge enables Fortune 1000 customers to transform text into valuable information to improve market research, customer care, product development, quality assurance and risk management. Clarabridge’s award-winning software links the worlds of text analysis, search and business intelligence (BI) to enable enterprises to more quickly and intuitively leverage all of their data—internal and external, structured and unstructured—to make better business decisions. Clarabridge’s Content Mining Platform™ is the first text-mining solution to work seamlessly with standard BI applications, tools and techniques, and Clarabridge delivers the industry’s only hosted text analysis solution with its Content Mining Service™. Clarabridge is headquartered in Reston, Virginia. For more information, visit www.clarabridge.com.
