Image credits: Medallia
Medallia, a provider of customer and employee experience and engagement solutions, is set to acquire Decibel for $160M (approx €134M) in cash.
Based out of London, Decibel provides digital experience analytics. The acquisition is expected to close in March 2021, subject to customary closing conditions.
This acquisition will enable Medallia to include always-on, unsolicited digital feedback, providing a single view of all customers and prospective customers at every point of their journey across all channels.
According to Alan Webber, IDC vice president for customer experience research, “Medallia’s acquisition of Decibel is exciting because this combination enables digital resiliency by bringing together common data and omnichannel experience understanding for both customers and employees to drive persistent engagement across ubiquitous business functions,”
Notably, this is Californian company’s fourth acquisition in the past year including Voci Technologies, Stella Connect, and Sense 360.
Real-time intelligence platform
Founded by Ben Harris, and Timothy de Paris in 2014, Decibel is a real-time intelligence platform that enables businesses to measure and improve online customer experiences.
The company’s platform can identify, score, and prioritise every online user experience impacting conversion, sales, and loyalty across your website and apps.
Some of the clients including Fidelity, Adidas, and British Airways, use Decibel’s solution to improve sales and drive more customer loyalty.
“Following a strong partnership, Medallia’s approach to us came as a welcome surprise. It is our mission to rid the world of digital frustration and create effortless experiences. Our unparalleled AI automatically identifies and prioritises experience issues, and their scale, showing brands what actions are needed to grow digital revenue. Medallia’s growth mentality and culture fit hand in glove with ours, which means we can now move at an even faster pace to help companies deliver the experiences customers expect and demand,” says Ben Harris, CEO and co-Founder of Decibel.
Decibel Insight has offices in London, Boston, Denver, San Francisco, Madrid and Berlin. It raised its first institutional investment of $9M (approx €7.5M) in April 2017 and $40M (approx €33.6M) in 2020.
Customer and employee experience platform
Founded by Amy Pressman, Borge Hald, Medallia offers a SaaS platform, ‘Medallia Experience Cloud,’ that captures experience data from signal fields emitted by customers and employees. Medallia uses proprietary AI and machine learning technology to analyse and reveal predictive insights that drive business actions and outcomes.
“There has been a massive shift to digital and the Decibel acquisition will add vital digital journey and experience capabilities, providing even more value to our customers and prospects. The addition of Decibel uniquely positions Medallia as the only experienced vendor that brings together the physical world, contact centre, and digital in a single signal platform. Our digital investments mark us out as the feedback system of record that makes all other systems customer aware,” states Leslie Stretch, chief executive officer of Medallia.
Financial results
A few days back, the San Francisco-based SaaS company, announced financial results for the quarter and year ended January 31, 2021. According to the report, the company earned a total revenue of $128M (approx €107M), an increase of 16 per cent from the same period last year. Medallia also witnessed a 20 per cent increase in subscription revenue at $103.8M (approx €87.3M).
For the full fiscal year, the company managed to rack up $477.2M (approx €401M) in revenue, an increase of 19 per cent from the prior year. The subscription revenue was $382.6M (approx €322M), an increase of 23 per cent from the prior year.
Other highlights
Furthermore, the company signed IBM as a new go-to-market partner and announced an integration with Slack to revolutionise employee engagement and collaboration as well.
