- Chicago-based ReviewTrackers has raised $10 million in Series B funding from Peakspan Capital
ReviewTrackers CEO Chris Campbell has confirmed that the company has secured $10 million in Series B funding from Peakspan Capital — which is a growth equity firm based out of Silicon Valley and NYC.
Peakspan Philip Dur reached out to Campbell over two years ago. And Dur got to know its business intimately while establishing a strong relationship with the company’s team.
This round of funding comes at an important time for brick-and-mortar businesses. And online reviews are driving more and more purchase decisions as 94% of consumers now say that a negative review has convinced them to avoid a business. The new round of funding will be allocated to strengthening ReviewTrackers’ core product offering, scaling sales, and customer success teams.
“I am so excited about accelerating our mission to help businesses take action today and predict tomorrow. This year we will surpass a significant milestone by helping 100k businesses deliver a better customer experience and grow their revenue,” said Campbell.
ReviewTrackers launched more than seven years ago. At the time, the company started out as a few people crowded around a single desk and now it is an organization that is serving tens of thousands of businesses.
Since then, the company has helped small, medium, and enterprise businesses across many industries monitor their reviews and customer feedback.
“We’ve been following ReviewTrackers for over two years and in a world of empty product claims from noisy competitors, we’ve been super impressed with their exceptional ability to capture large volumes of reviews while synthesizing them into actionable insights,” added Dur.
This round of funding will increase ReviewTrackers’ presence in Chicago and expand its workforce to drive future growth. And the company is planning to hire more than 100 people to support team growth in downtown Chicago.
ReviewTrackers goes through reviews from over 100 third-party sites including Google and Facebook. And ReviewTrackers works with mobile devices so customer support staff and social media managers are able to receive alerts and monitor what people are saying about the brand.