Tenaya Capital Joins Existing Investors Shasta Ventures and Correlation Ventures in Fueling Squelch Sales and Marketing Development
Squelch, Inc., provider of a customer experience optimization solution that empowers customer support and success professionals with the knowledge and resources to delight customers, announced an additional $12 million in funding from current backers Shasta Ventures and Correlation Ventures, alongside new investor Tenaya Capital. The additional capital will help accelerate the growth of Squelch’s sales and marketing programs, bringing the company’s innovative platform to a broader number of customer experience professionals.
“Since our launch last year, Squelch has empowered thousands of customer support and success agents — maximizing productivity, personalizing every interaction, and enhancing both customer and agent satisfaction,” said Jayaram Bhat, Squelch co-founder and CEO. “We aim to reach more of these professionals so that they, too, can deliver an unmatched customer experience. We will do that by allocating the majority of this new investment to building our sales and marketing efforts. For many organizations today, customer experience (CX) is the foundation of their business strategy, and Squelch is critical to delivering on that strategy.”
Squelch’s flagship SaaS platform is designed to take customer satisfaction, retention, and loyalty to the next level for Inc. 5000 businesses, the fastest-growing companies in America. Squelch instantly serves up current, relevant intelligence to customer-facing agents at the precise moment of customer interaction. Today’s CX professionals are surrounded by more data than ever before. Unfortunately, much of this data is separated into silos, making it challenging and time-consuming to find and utilize. As its name suggests, Squelch’s software cuts through the “noise,” quickly delivering actionable intelligence to address customer questions or challenges. Squelch seamlessly connects with most SaaS-based applications, including Salesforce, Zendesk, Slack, Box, Confluence, Jira, OneDrive, and Google Drive.
In the 11 months following Squelch’s company launch, a growing number of leading enterprises have adopted its software, including Khoros (the combined company of Spredfast and Lithium), Arxan Technologies, Thycotic, and Instana.
“We’re in the age of heightened customer expectations where companies must consistently deliver fast, effective responses to customers in need,” said Philippe Mesritz, VP Global Support Services, Khoros, “We built Khoros around this understanding. With the help of the Squelch platform, we’re able to best provide this experience in a scalable way.”
According to Deloitte, 80 percent of companies think they deliver great CX, but a mere eight percent of their customers agree. Squelch equips customer support and success agents with insights on the customer’s journey and pinpoints the best path to resolution of an issue. In addition, Squelch goes beyond typical text-based search software, applying machine learning and artificial intelligence to become continuously more effective — and valuable — over time.
“At Shasta, we’re honored to back repeat entrepreneurs like Jayaram. Squelch’s leadership team puts customer experience first and their solution leverages powerful machine learning and robust integrations to allow better and more fruitful interactions between companies and their customers,” said Ravi Mohan, Managing Director of Shasta Ventures, lead investor in Squelch. “We’re thrilled to congratulate the team on their success and look forward to seeing how they continue to elevate the customer experience.”
Existing investors Shasta Ventures and Correlation Ventures are joined by Tenaya Capital in contributing to the extension of Squelch’s Series A funding round. All three firms are known for backing innovative, high-potential early-stage companies, including AlienVault, Apptio, Lyft, Nest, Zenprise, Palo Alto Networks, Platfora, and Zuora.
“At Tenaya, we’re always seeking out opportunities to build extraordinary technology companies. We stand behind Squelch as it continues to bridge a gap in the customer experience architecture, which can positively impact all participants in the customer experience ecosystem,” said Brian Melton, co-founder and partner at Tenaya Capital.