The funding was announced Monday.
Feedtrail, which has been in business for a year, offers a web-based application to get customer feedback in real time with the goal of improving satisfaction and retention.
“Feedtrial’s offering is right in our sweet spot of cost effective demonstrable ROI for enterprise businesses,” says Tim McLoughlin, a partner at Cofounders Capital, in a statement.
“During our diligence process we talked with many of Feedtrail’s current customers and realized that they were all blown away with the engagement levels they were receiving from their customers. One very reputable healthcare provider told us they were getting over 90% of its patients to give real-time, actionable feedback. That kind of response is unheard of in the industry, and the information collected is invaluable.”
The funds will be used to expand Feedtrail’s workforce and to expand its reach across multiple industries such as healthcare, property management and hospitality.
According to the company its solution “differs from traditional survey providers in that it helps businesses engage with and learn from their customers during their actual service experience, not hours or even days later.”
“With Feedtrail, your entire team (from on-duty staff to executives) is kept in the loop 24/7 about company-wide customer satisfaction and opportunities for improvement,” the firm adds.
Feedtrail cofounder and CEO Paul Jaglowski noted that “our clients have a solution that gives them 24/7 real-time visibility into customer sentiment and satisfaction across all locations and business units…right down to specific staff interactions.”
The startup already has multiple customers across the U.S. and Europe.