AMSTERDAM, June 29, 2021 (GLOBE NEWSWIRE) -- Wonderflow, a leading Unified VoC Analytics platform, announced today that it has raised $20 million in Series B Funding led by Toronto-based Klass Capital - a long term-oriented growth equity firm that invests in enterprise software businesses. Existing investors, including Italian venture capital firm P101, ITALIA 500 (Azimut Group) and renowned Dutch top manager Jan Bennink, also participated in the financing round.
This is the third financing round for Wonderflow, which has now raised $25M to date.
Wonderflow makes Voice of the Customer (VoC) data valuable for businesses allowing brands to make winning decisions based on customer feedback. The start-up assists brands like Philips, Colgate-Palmolive, Uber, DHL, Delonghi, Reckitt Benckiser, Beiersdorf, Beko, Samsung, GSK, Lavazza, Grundig, Kantar and many more.
The funding will be used to consolidate Wonderflow's leadership in creating and distributing predictive technologies based on VoC. The company aims to further strengthen its position in the European market by hiring new talent across its three offices in Amsterdam, Milan, and Trento. Wonderflow also aims to expand internationally by launching a new office in North America.
Wonderflow makes VoC data valuable for businesses. Today, most enterprises that generate a large amount of unsolicited customer feedback are not able to properly leverage the data they have collected. Through its proprietary AI, Wonderflow can analyze all unstructured feedback, from multiple sources, and help brands improve the overall customer experience. Wonderflow is part of the VoC analytics sector. According to the most recent estimates by Gartner this market is steadily growing at approximately 20% to 25% per year, which has driven the VoC application software market size above $2 billion.
Wonderflow was founded in 2014 by Italian entrepreneurs Riccardo Osti, Giovanni Gaglione, and Michele Ruini. Despite the pandemic, the company has grown more than 100% in the last 12 months. Wonderflow assists brands like Philips, Colgate-Palmolive, Uber, DHL, Delonghi, Reckitt Benckiser, Beiersdorf, Beko, Samsung, GSK, Lavazza, Grundig, Kantar and many more.
Today, approximately 50 people work in Wonderflow’s offices located in Amsterdam, Milan, and Trento. The founders have built a business environment rich in values and diversity as the company has employees from more than ten nationalities and over 60% of team members are women. Furthermore, the team includes senior executives and serial entrepreneurs who have advanced knowledge in the Customer Experience (CX) industry, particularly when it comes to driving customer insights through AI and Big Data. Wonderflow is recognized as the only HOT Vendor in the feedback analytics category in Europe by Aragon Research, Ovum, and OMDIA.
Riccardo Osti, CEO of Wonderflow, stated that:
"Our partnership with Klass represents an important step in our global expansion plan. We will continue investing in Artificial Intelligence to strengthen our leadership in Natural Language Processing, Prediction, and Narrative Insights. We will grow our teams in Europe and North America to offer increasingly strong support to our enterprise customers."
Daniel Klass, Founder and Managing Partner of Klass Capital, stated that:
“We're impressed with Wonderflow's cutting-edge technology and culture of innovation. The way Wonderflow uses advanced AI to analyze customer feedback is clearly disrupting the market. During the time we spent with Riccardo and the Wonderflow team, we were struck by their tenacity and collaborative approach with their partners. We’re excited to start working with Wonderflow to help them scale and become the new global standard in customer feedback analysis.”
About Wonderflow
Wonderflow is an AI-based analytics platform that enables global brands to make winning decisions listening to the actual Voice of the Customer. Founded in 2014 by Italian entrepreneurs Riccardo Osti, Giovanni Gaglione and Michele Ruini, and backed by high-profile investors, Wonderflow assists global brands like Philips, Colgate-Palmolive, and De'Longhi Group in their path to become more consumer-centric. For more information, visit www.wonderflow.ai
About Klass Capital
Klass is a Toronto-based growth equity firm that is passionate about helping software companies scale to become world-leading organizations. Klass takes a long-term approach to investing and is highly focused on adding value to its partners. Klass has invested in over 20 high-growth SaaS companies across North America and Europe. For more information, visit www.klass.com
About P101 SGR
P101 SGR is one of the leading venture capital firms in Italy, investing in digital and technology-driven companies in Europe. Founded in 2013 by Andrea Di Camillo, it is supported by Azimut, Fondo Italiano di Investimento, European Investment Fund, Fondo Pensione BCC, Cassa Forense, as well as some of the main Italian entrepreneurial families. P101 SGR currently manages two funds, as well as the first VC retail investment fund, developed in collaboration with Azimut Group. Managing assets for over € 200 million, P101 has invested in more than 40 tech companies, including BorsadelCredito.it, Cortilia, Milkman, MusixMatch, and Tannico. For more information, visit www.p101.it
Wonderflow – Press Office Contacts
Michele Ruini - CMO - +39 329 05 34 211 - mike@wonderflow.ai
Paul Wilke - Upright Position Communications on behalf of Wonderflow - +1-415-215-8750 - paul@uprightcomms.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/85e46552-d4cc-4ae5-a200-0e4eb91bbfd0