Customer experience platform InMoment announced Wednesday it is being acquired by Chicago-based private equity firm Madison Dearborn Partners.
SOUTH JORDAN — Customer experience platform InMoment announced Wednesday it is being acquired by Chicago-based private equity firm Madison Dearborn Partners.
While the value of the deal has not been released, 17-year-old InMoment has previously drawn some $34 million in venture funding. The company has carved out its own niche in the burgeoning customer experience market by leveraging survey data alongside other customer interaction information to provide its clients with insight about business performance across multiple metrics.
While another Utah-based customer experience company, Qualtrics, has garnered a lot of attention as one of the biggest companies in the sector and was acquired by European enterprise software giant SAP in an $8 billion deal announced late last year, InMoment CEO Andrew Joiner told the Deseret News his company has innovated in areas that distinguish it from its neighbors to the south.
“We think beyond surveys, to get to the heart of the customer experience,” Joiner said. “Experiences are complex and dynamic and we have unique way of using our science to understand that.”
Customer experience is a term that’s been thrown around a lot in the tech realm, particularly as it’s a relatively new business sector and one in which Utah companies have found a high level of success in building.
Essentially, the “customer experience” is an individual’s net takeaway, or perception, of a company after they’ve had an interaction, be it a purchase, use of a service or even just an inquiry. Did that person feel like they paid too much? Did the product or service live up to the customer’s expectations? Did they interact with an employee and, if so, how did that go? Would they buy from the company again? …read more
Source:: Deseret News – Business News