Zenloop, a German customer experience management platform, has raised €5.3M investment led by Pan-European VC, Nauta Capital with Piton Capital also joining the round. The high investment will be used for internationalisation with a focus on expansion across Europe in 2019 in addition to doubling zenloop’s team size within the year.
With this strategic investment, Nauta Capital, as well as Piton Capital, are tackling the rapidly growing global market of data-driven customer experience management.
zenloop has developed a unique customer experience SaaS solution which enables businesses to collect, analyse and respond to customer feedback in real-time. Integrating the global industry standard Net Promoter System® (NPS) framework with an ‘all-in-one’ platform powered by machine learning technology, zenloop tackles the root causes of customer churn by collecting feedback from customers across every touchpoint during their entire journey and deriving optimal personalised retention actions.
The customer experience management platform was founded in 2016 by Lukasz Lazewski, Björn Kolbmüller and Paul Schwarzenholz, all three being experienced entrepreneurs while the latter two had previously founded and sold Flaconi – Germany’s second-largest online beauty store – to ProSiebenSat.1 Media SE in 2017.
It was during their first venture that the founders of zenloop realised the detrimental retention issues faced by companies – both large and small. According to figures over €146bn in revenues are lost each year in the global e-commerce industry alone, as such the global market for retention software is estimated to be worth €90bn.
Björn Kolbmüller, Co-founder of zenloop, explains: “While we were founders of a B2C company, we wanted to understand how happy every single customer was during their journey. As a result, we received thousands of comments every day which we analysed in detail and with high effort using excel. We’d then leverage their feedback in order to get back to the customer with the right action. We found this strategy reduced churn significantly and led to more recommendations from our customers. This is what zenloop is about, and does effortlessly so in a fully automated way. By deploying the latest technology – including artificial intelligence – customers are given the best experience.”
Currently serving clients across multiple verticals from e-commerce, consumer brands, travel to omnichannel retail, in access of 2.000 surveys and 7 million responses have been processed in the platform since launch with clients reporting response rates of 30%-50%.
Nauta Capital’s Munich-based Partner, Guillem Sagué who led the investment will be joining zenloop’s board and working with the team in reaching their ambitious global expansion plans. Commenting on the news Guillem said: “We are delighted to join Paul, Björn and Lukasz in their journey to make customer satisfaction measurable and actionable at scale. zenloop fits perfectly into our Enterprise Software focus in Germany and the team is just impressive so it was an easy decision for us.”
Other new additions to zenloop’s board include Andrin Bachmann, founding partner of Piton Capital, and Christian Henschel, Co-founder of Adjust.
“Our primary goal is to grow within the European market by leveraging our leading position with Germany-based companies. Therefore, the round will not only allow us to expand our marketing and sales efforts and expanding our team but also strengthen our IP in machine learning capabilities to drive insights and actions for our customers. We also plan to expand across Europe and tackle the customer experience market beyond the DACH region. We’re thrilled to have Nauta, Piton and our industry expert Angels supporting us with their expertise and network”, added zenloop Co-founder, Paul Schwarzenholz.