Critizr has raised €15 million in a funding round led by 83North, with support from Point Nine, Caphorn, and Runa, to grow its customer relationship management (CRM) platform across Europe.
As the retail sector adjusts to more experiential-based shopping and changing criteria for brand loyalty, Critizr has introduced a feedback management system that allows retailers and brands to connect with their customers. The company partners with over 80 European companies in 25 countries across retail, banking, travel, entertainment and hospitality. In France alone, it connects to over 30,000 points of sale. The CRM pulls customer interactions from multiple online channels into a single hub, and can even route specific feedback to the appropriate branch of a large enterprise. Easy and immediate access to this feedback leads to a host of claimed benefits for Critizr users: an optimised customer experience, stronger customer relationships, higher rates of customer loyalty, an improved online reputation and NPS score – and ultimately, increased revenues. Laurel Bowden of 83North emphasized these results: “Customer experience at storefront level is critical for retail success. We are very impressed how Critizr empowers store managers, in their daily routine with the right tools, and as a result, has significant impact on some of the most important business metrics such as revenue, NPS, purchase frequency and churn.” Nicolas Hammer, CEO and co-founder of Critizr said: “83North has enabled many fast-growing software companies to realise their ambition and take big strides forward in their development. They are the perfect partner to help us achieve our goal to establish Critizr as Europe’s leader in feedback management for retail.” The French startup will use the funding to open and expand new offices in London and Cologne, growing its 85-person team currently located in Paris and Lille. The company will specifically focus on the UK market in the short term.