Connectivity Secures $6.35 Million in Series A Funding.
A leading software provider of customer intelligence and engagement solution for businesses, Connectivity, recently announced that it has managed to raise over $6.35 million in Series A funding. The financial round was led by Greycroft Partners, with participation by Rincon Venture Partners, Daher Capital, Double M Partners, TenOneTen Ventures, Eytan Elbaz and SLP Ventures.
The funds will allow Connectivity to accelerate planned advancement to its powerful customer intelligence platform, which allows businesses to manage online interactions with their customers, segment customers and identify their best ones, understanding a customer interest and benchmark themselves against their competitors.
Connectivity, which is also the parent company of a popular local search site named Yellowbot.com and weblocal.co, Changed its name from Solfo in order to align its brand the company’s vision of facilitating meaningful intelligence driven connections between business and their customers.
The market opportunity for connectivity has become significant, with the synchronization of mobile proliferation and social media has allowed fundamental changed how consumers ineract with business. A recent Nielson report has show shown that 55 percent of tablet user and 47 percent of smartphone users read review of recent or future purchases. Furthermore, 21 percent of tablet owners and 26 percent of smartphone user use social media to comment on purchases. With this kind of ecosystem, intelligence-based customer engagement strategies and tools are important for business if they expect to compete and thrive.
“An estimated 80 percent of North American businesses, approximately 20 million, do not yet use a platform to engage with their customer data, representing a tremendous opportunity for Connectivity,” said Matt Booth, CEO, Connectivity. “We are excited to have the support and strategic guidance of our investors as we advance our mission to deliver customer intelligence solutions for today’s marketplace.”
Through the use of Connectivity platform, business can monitor what customers are currently saying about them on a variety of social medias and review websites and easily engage and interact with those customers online. An advance sentiment analysis dives deeply into customer opinions and customer segments, showing businesses what keeps customers coming back and finding ways to insure a future growth.
The company has seen massive growth, Since its launching two years back, Connectivity’s SaaS platform has earned validation of its technology from a variety of industry experts, enterprises, media companies agencies. The company and its network of partners have gained more than 92,000 business accounts for its software platform.
“During my time at Ticketmaster, I was able to personally work with several of the core members of Connectivity’s leadership and technology teams,” said independent board member Sean Moriarty, CEO of Saatchi Art and former CEO of Ticketmaster. “The depth of domain expertise and real world experience that this team has is unmatched in the industry.”