“The customer is always right.” Amsterdam-based consumer feedback analytics platform, Wonderflow aims to take this learning to the next level. It is an AI-driven customer feedback data startup, has announced raising €16.5 million in growth funding led by Toronto-based Klass Capital. Existing investors include Italian venture capital firm P101, ITALIA 500, and renowned Dutch top manager Jan Bennink, who also participated in the round.
Wonderflow was founded in 2014 by Italian entrepreneurs Riccardo Osti, Giovanni Gaglione, and Michele Ruini. Despite the pandemic, the company has grown over 100% in the past year. It already assists brands like Philips, Colgate-Palmolive, Uber, DHL, Delonghi, Reckitt Benckiser, and many more. In the first year of using the platform, many of Wonderflow’s customers achieved growth in consumer satisfaction of up to 100%.
Through its proprietary AI, Wonderflow analyzes all unstructured feedback, from multiple sources, and helps brands improve the overall customer experience. It is part of the ‘VoC’, or Voice of Customer, analytics sector. According to the most recent estimates by Gartner, this market is steadily growing at approximately 20% to 25% per year. Amsterdam-based Wonderflow secures €16.5 million to help companies learn from customer feedback
Wonderflow’s offices are located in Amsterdam, Milan, and Trento and a staff of fifty work there. The founders have built a business environment rich in values and diversity as the company has employees from more than ten nationalities and over 60% of team members are women. Furthermore, the team includes senior executives and serial entrepreneurs who have advanced knowledge in the Customer Experience (CX) industry, especially when it comes to driving customer insights through AI and Big Data.
Riccardo Osti, CEO of Wonderflow, stated that their partnership with Klass represents an important step in their global expansion plan. They will continue investing in Artificial Intelligence to strengthen their leadership in Natural Language Processing (NLP), Prediction, and Narrative Insights. They are planning to grow their teams in Europe and North America to offer increasingly strong support to their enterprise customers.
Daniel Klass, Founder and Managing Partner of Klass Capital said “We’re impressed with Wonderflow’s cutting-edge technology and culture of innovation. The way it uses advanced AI to analyze customer feedback is clearly disrupting the market.” During the time they spent with Riccardo and the team, they were struck by their tenacity and collaborative approach with their partners. They’re excited to start working with Wonderflow to help them scale and become the new global standard in customer feedback analysis.
Rune Theill, CEO & co-founder of Rockstart, also commented on the round that “When they met Riccardo and Giovanni, it was still pre-revenue. During their due diligence process prior to their investment, they were impressed with Wonderflow’s ability to move fast and translate customers’ needs into easy-to-understand technical solutions.” Rune also added that “We are proud to have been the first investor in them and are excited to see that the founders are bringing on new expertise to take Wonderflow to the next level.”
The raised capital will help the company to strengthen its position in Europe and expand its commercial network, in order to respond to the ever-increasing demand for customer feedback services.
Speaking on the potential of the market, Riccardo Osti, CEO of Wonderflow, says, “In this past year we have seen an explosion of customer analytics demand, especially from large international clients. Thanks to this new injection of capital and thanks to the important entry on our board of an important figure like Jan Bennink, we will be able to seize this opportunity, growing further starting from the European market.”
