US customer experience management company Medallia has announced that it has signed a definitive agreement to acquire Tel Aviv-headquartered cloud-based behavioral analytics platform Cooladata. No financial details were disclosed. The company has raised $13 million to date from investors including Salesforce Ventures, TEEC Angel Fund, 83North and Carmel Ventures.
Founded by in 2012 by CEO Guy Greenberg and Tomer Ben Moshe, Cooladata leverages its proprietary big data platform and artificial intelligence engine, to process huge datasets beyond customer surveys to analyze non-explicit feedback to derive and predict customer sentiment. This enables companies to pinpoint opportunities to grow revenue and improve profitability.
Greenberg said, "We could not be more excited to be joining Medallia, the leader in the CX domain. We built Cooladata to enable brands to gain a complete view into consumer behavior and in-depth analysis of the consumer journey, and Medallia will help us accelerate that vision."
"We have partnered with Cooladata for a year and absolutely love their technology and team," said Krish Mantripragada, Chief Product Officer of Medallia. "Our acquisition of Cooladata enables us to provide both a more complete view of the customer journey and the analytics to understand the underlying motivations required to make smarter decisions on how to improve experiences and grow customer loyalty."
Published by Globes, Israel business news - en.globes.co.il - on June 4, 2019
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