Tech

FullStory raises $25 million to help companies spot issues in their apps and websites – TechCrunch


FullStorycompany that sells analytics tools for apps and websites, secured $25 million in new equity funding, paperwork filed with the US Securities and Exchange Commission this week this Shows. TechCrunch could not independently confirm the investors, and the company did not respond to a request for comment as of press time. But follow with Crunchbase, the infusion is FullStory’s first since August 2021 and brings the company’s total raised to approximately $200 million.

Atlanta-based FullStory was founded in 2014 by Bruce Johnson, Joel Webber, and Scott Voigt, who sought to build a product that helped brands create better customer experiences across the web and mobile. motion. Prior to the launch of FullStory, the co-founders – all Georgia Institute of Technology graduates – teamed up in the early 2000s to form a DevOps company called Innuvo, which was acquired by Google in 2005 with amount is not disclosed.

Originally conceived as a marketing tool, FullStory focused on analytics, customer success, and engineering after its co-founders realized that the tool they created to find out why ideas Their original idea didn’t work with commercial potential.

Today, FullStory collects and structures digital experience data and uses AI to glean insights from behaviors. The platform tracks signals like highlights, scroll depth, pinch-to-zoom and copy-and-paste frequencies, displays metrics, and reconstructs user journeys using vector-based graphics. FullStory can also search through a series of possible “friction events” to see how often they correlate with not converting (i.e. completing a desired goal, like a purchase). Meanwhile, automated alerts and saved reports track progress and highlight anomalies like when a click goes nowhere because of a bright spot in the JavaScript code.

FullStory claims their approach provides an easy way to understand if customers are doing comparison shopping or simply performing a search. In an earlier interview, Voigt said a home improvement provider used FullStory to identify spikes in garage carpet sales during the pandemic and update marketing materials. theirs accordingly.

FullStory

An overview of FullStory’s digital customer experience tracking dashboard.

The pandemic-driven digital transformation efforts have benefited FullStory, which now has more than 3,200 customers including Groupon, Automattic, Peloton, Fidelity and JetBlue. In 2021, the company – who has received backing from VCs including Permira, Kleiner PerkinsGV, Stripes, Dell Technologies Capital and Salesforce Ventures – claim to have grown their recurring revenue by more than 70% year over year.

FullStory claims it analyzed more than 15 billion user sessions by 2021, including nearly 1 trillion clicks, text highlighting, and scrolling.

“As people manage more of their work and personal lives online, companies across industries have used FullStory to have the insights they need to deliver products and experiences. premium digital experience,” Voigt said in one recently Press Release. “FullStory’s comprehensive DXI platform provides a unique view of real user behavior and exposes ‘unknowns’ to drive product analytics, UX research, conversion optimization, and more.”

Building a differentiated digital experience is clearly a challenge. Fifty-eight percent of customers believe the experience of most brands has little or no effect on what they ultimately buy, and nearly half cannot tell the difference between experiences, according to Gartner. poll. Part of the problem lies with the C-suite, which continues to drive digital experiences without thorough error checking and fully understanding what drives customers to try them.

Dead links, glitches, and undeliverable forms can litter companies’ apps and websites. These barriers are not only present to work and play, but can also lead to overcrowded customer service teams, staff shortages and hours-long wait times. Customers rarely forgive – 64% admit jumping to a competitor after a poor customer experience.

The need for a more thoughtful implementation has benefited not only FullStory but also its competitors in the digital customer experience analytics space, such as Clootrack. Glass box and Decibels perhaps the most formidable, having raised tens of millions in venture capital between them.

Eager to set the pace (or at least maintain it), FullStory expanded its leadership team in 2021, hiring Edelita Tichepco as CFO and Google veteran Jim Miller as VP. recruit. Will Schnabel also joins the company as SVP of alliances and partners, bringing experience in partnership building and integration from his time at Accenture and IBM Watson.

FullStory also more than doubles its headcount by 2021 to over 500 employees, with teams globally including San Francisco, London, Sydneyand Singapore outside of Atlanta.



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