CloudCherry raises $9 million in Series A Funding

Cisco-backed CloudCherry, a customer experience management (CEM) startup, has raised $9 million (Rs 64.5 crores) in the second round of Series A funding. The round was led by US-based early-stage venture capital firm Pelion Venture Partners with participation from the existing investors Cisco Investments, Vertex Ventures, and IDG Ventures India.

In conjunction to the current funding, Donald Tucker, who leads Cisco’s investment efforts related to collaboration products, and Brett Wingo, senior vice president of customer experience platforms at Cisco, will join the CloudCherry board.

Founded in 2014 by Vinod Muthukrishnan and Sriram Subramanian, CloudCherry develops tools that help companies in enhancing customer experience on their official websites. It provides software services like mobile application, big data, analytics, customer sentiment mapping and customer feedback to small and medium-sized enterprises.

The startup claims to have an impressive list of clients which include high profile companies like Puma, Cisco, Salesforce, DBS Bank. On the other hand, the startup is also claiming that its revenue has tripled more than thrice over the last one year.

“In less than two years, we have taken market share from older, established players, drawn attention and coverage from the leading analyst firms and have established partnerships with industry behemoths including Microsoft and Nielsen,” said Vinod Muthukrishnan, co-founder and chief executive at CloudCherry.

CloudCherry joins a number of SaaS startups in raising funding this year. The current Series-A round is further expected to get additional funds from existing investors Cisco Investments, Vertex Ventures, and IDG Ventures India, which will be used to grow its North American business and data science capabilities.

The startup has previously raised $6 million in Series A funding round in 2016 led by Cisco Investments and Vertex Ventures. Existing investor IDG Ventures also participated in the round who invested $1 million along with The Chennai Angel in July 2015.

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