TheyDo experiences explosive growth and raises € 12 mio. Series A
TheyDo, a customer journey management platform and IQCapital portfolio company, announced that it has raised a €12 million Series A round led by Blossom Capital, with participation from 20VC. The round also included participation from angels such as Des Traynor, founder of Intercom, and Grisha Pavlotsky from Miro, as well as other senior angels from companies such as Figma, Snowflake, Calendly and Amplitude.
The customer journey management sector is forecasted to be worth $48.5 billion by 2023, according to Future Market Insights. TheyDo’s platform helps businesses track and improve the customer journey by providing teams with a comprehensive dashboard of incoming metrics and data, and showing how it impacts the customer journey. It is used by teams at companies including Atlassian, Cisco, IBM, Johnson & Johnson and T-Mobile.
Also read the article Techcrunch wrote about this deal.
“There is a mindset shift going on where these companies are now realising that organising around their customer journey is just the only way that they can stay relevant,” said TheyDo co-founder Jochem van der Veer. “And they are lacking tools to actually support that workflow.”
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TheyDo helps companies organize their CX by bringing together customer journeys, analytics, and the optimal organization between systems and teams. The startup has experienced explosive growth since 2020 and counts bol.com, Jumbo, Post NL, and VGZ among its customers.
Customer insights often fragmented, TheyDo offers solution through centralized data storage and collaboration
Manually tracking CX can be extremely labor-intensive for many companies, often done through Excel and PowerPoint files with all the associated drawbacks. Efficiency is often lacking, and data is often not coherent. The three founders, Jochem, Charles, and Martin, encountered this problem frequently in their previous service design agency, which they started in 2017. TheyDo, founded in October 2019, is a scalable platform that helps automate the mapping of CX to identify and prioritize opportunities for design and product improvements based on data, reducing the need for design and product teams to constantly reinvent the wheel.
Digitally-driven companies focus on accelerated time-to-market, TheyDo facilitates product development process with customer insights
The speed and accuracy with which digitally-driven companies identify customer needs and release product features are now key factors in success. More and more organizations are focusing on accelerated time-to-market with minimum viable products, testing them with end users before allocating engineering resources to the most promising proposition. To facilitate this product development process (ideation, prototype development, design, and analysis), customer insights are essential. However, these insights often still live in fragmented tools and teams.
TheyDo addresses this problem by offering an intuitive and user-friendly interface that allows teams to collaborate in real time and store centralized customer insights for the broader organization. End users can upload personas and customer data to map it against a customer journey. From this customer journey, teams can define opportunities to prioritize and improve customer journeys and product features.
