Leading Journey Management platform company TheyDo announced it raised an additional $34 million in funding. Blossom Capital led the round, which included existing investors Arches Capital and InnovationQuarter, global customer experience evangelist Steven Van Belleghem, HighSage Ventures, and 20SALES.
The funding round will enable TheyDo to continue driving the journey management movement at scale, advance its R&D, focus on AI and data ingestion, and build a customer-facing team in the US. TheyDo was launched in 2019 based on building a solution to move beyond mapping customer journeys in large static documents to a live platform enabling an action bias. TheyDo has an impressive customer roster on a path to making the journey the most powerful business tool.
The new funding round increased the company’s total investment to slightly under $50 million. This round also follows another year of triple-digit year-on-year growth. And the company’s growing list of enterprise customers includes Cisco, Ford, Johnson & Johnson, Home Depot, and Polestar.
In the last year, TheyDo launched many new features and accelerated partnerships with leading experience management platforms like Qualtrics, enhancing integration capabilities to deliver more value for customers. And the company now has a team of 70 worldwide and is expected to reach 100 before the end of the year as it prioritizes quality hires to help drive its growth, especially in the US.
KEY QUOTES:
“What’s most exciting about our growth is we’re not just building a company or a product – we’re fostering a movement of journey-centric companies. We’ve simplified the biggest business problem of the last century: working customer-centric at scale. With journeys at the heart, we’re bringing an operating model that is agile and customer-centric. Executive teams are feeling the pressure to deliver more value for customers with less, especially in this economic climate, and what we’re seeing is a growing recognition that journey is the most powerful business tool that they have at their disposal to do that. ”
– TheyDo CEO and Co-Founder Jochem van der Veer
“TheyDo’s acceleration has been very impressive. Since our initial investment, there’s been very clear acceleration in market demand by large enterprises. TheyDo has pioneered this category and its product only compounds in value as they are fast adding new features. Given the clear opportunity ahead, we were keen to double down on our investment and continue supporting the team in their ambitious plans. We are proud to champion this trailblazing European startup as it continues its expansion locally and across the Atlantic.”
– Ophelia Brown, Blossom Capital
“Every business wants to be customer-centric, but for most, it’s the pot of gold at the end of the rainbow they can’t quite reach. The challenge for most businesses is not ‘what do we need to do?’, but rather ‘how are we actually going to achieve it?’. I look forward to partnering with TheyDo with its go-to-market strategy, expanding into North America and creating the enabler of customer-centric growth for companies of all sizes.”
– Steven Van Belleghem, customer experience evangelist and investor
