Atlanta-based FullStory is a rapidly growing startup that is aiming to tell its customers when, where, and why they are losing customer experience related revenue. And it operationalizes concern for the digital customer experience across organizations in a secure and scalable way while adhering to privacy compliance.
Recently, FullStory announced it has closed $32 million in Series C funding. With this funding round, FullStory is going to scale sales and marketing along with further evolving their digital experience analytics platform into a first-of-its-kind engine for digital intelligence.
This round of funding was led by new investor Stripes. Dell Technologies Capital — another new investor — also joined this round along with GV (formerly Google Ventures), Kleiner Perkins, and Salesforce Ventures. Including this round, FullStory has raised a total of $57 million.
FullStory was launched in 2014 by Joel Webber, COO Bruce Johnson, and CEO Scott Voigt. The three of them worked together at Innuvo (acquired by Google) over a decade ago. Innuvo was turned into Google’s Atlanta-based engineering office. In 2013, Johnson and Webber launched a company called Monetology with Voigt. And it appears that Monetology evolved into FullStory a few years later.
“More and more, businesses realize that while traditional analytics are big on data, they’re short on answers, especially when it comes to solving for digital customer experiences,” said Voigt. “Top-down tools simply weren’t built to provide the insights companies need to surface—and solve—problems in the increasingly complicated realm of customer experience. FullStory aims to tell you when, where, and why you are losing CX-related revenue and operationalizes concern for the digital customer experience across organizations in a secure, scalable, and privacy-compliant way. The resulting insights are actionable, intuitive, real-time, and easy-to-access for organizations big and small.”
In conjunction with this funding round, Stripes partner Ron Shah has joined the FullStory board of directors. And Dell Technologies Capital partner Creighton Hicks is joining as an observer on the board.
“We have been investing in leading software and consumer companies for many years now, and one of the unifying themes we have observed is that best-in-class players in every category invariably have a laser focus on digital customer experience,” added Shah. “As we got to know FullStory, we realized that they had a team and a technology platform of extraordinary scale and power that could meet exactly this growing demand. We believe FullStory has the attributes of a company poised to succeed in their market as innovative executives across the world realize that digital experience is a critical-path to revenue, and increasingly the primary way in which they engage with their customers in the modern economy.”
Gartner has reported that customer experiences (CX) are emerging from organizational silos and it is becoming a board-level focus. And respondents to the 2018 Gartner Survey have prioritized customer analytics as the number one investment for improving the customer experience.
“Customer experience is top-of-mind for every company, no matter what size or industry,” explained Salesforce’s EVP & GM Sales Cloud Adam Blitzer. “Every part of the business—from product teams to support, engineering, marketing, sales, and customer success—needs access into deep insights around digital customer experiences. FullStory’s technology provides intelligent insights for these companies to help drive customer success.”
Some of FullStory’s customers include Segment, Zapier, Kayak, GrubHub, and Wistia. And ever since early 2017, FullStory has seen a fourfold increase in its workforce. And it is now totaling 175 employees (known as “FullStorians”). To support its workforce growth, FullStory is planning to move to a new Peachtree Road headquarters. And FullStory is planning to hire at least 100 more employees over the next year.
