Amsterdam-based TheyDo has raised €12 million in a Series A funding round. The company brings data, qualitative insights, and business objectives all under the customer journey roof, and helps align teams and drive a superior customer experience. The new capital is aimed at a prolonged recruitment drive that will see the company welcome new designers and engineers to the team. In total, TheyDo has raised €14 million.
The €12 million Series A round was led by Blossom Capital, with 20VC and a host of angel investors including Des Traynor, Founder at Intercom, Miro COO Grisha Pavlotsky, former VP Enablement at Snowflake, Jeroen Nieuwenhuijs, Elena Verna, Growth at PLG Amplitude/Miro, Retool’s VP Sales Eleanor Dorfman, Figma’s VP Sales Kyle Parrish, John Cutler, product manager at Amplitude, CPO at Calendly Annie Pearl, Risto Lahdesmaki, ex Capgemini EVP, and Goodwin partner Lawrenche Chu.
TheyDo, not to be confused with WeWork, nor a nuptials service, is taking its cues from future market insights that projects the customer journey mapping software market to be worth a healthy $48.5 billion by 2032, a figure up from $10.7 billion in 2022.
According to the startup, they are the first platform that can show businesses all parts of all journeys in one place. They claim to offer the only platform where all metrics and quantitative data are linked to the actual touchpoint where the data is coming from, and where all qualitative insights complement and support the emotional aspect of each journey step.
In so much, TheyDo is offering business units company wide, including everyone from CX to product, marketing, sales, and customer success, the ability to manage all of their data and insights in the context of where it actually takes place.
In use by major brands including Atlassian, Cisco, IBM, Johnson & Johnson, and T-Mobile, the end goal for TheyDo is to give businesses the ability to spot perhaps previously unforeseen opportunities and prioritise work, ultimately putting the customer at the forefront of everything they do.
As we’ve seen with Chattermill’s $26 million raise, the business of staying in business is very much hanging in the balance in today’s economic climate, and providing an exemplary customer experience time and time again, on a individual-by-individual basis can make all the difference between in the black and in the red.
“We all know the importance of understanding the customer journey by now, but turning that understanding into action, alignment, and creating a way of working around these journeys is incredibly hard. The reason we started TheyDo is that we've seen companies who are journey-centric not only outperform their competition, but also have a way better internal culture,” commented TheyDo CEO and co-founder Jochem van der Veer. “Cross-functional alignment, without the endless back-and-forth, is only created when everyone rallies around the customer journey. I expect businesses will soon wonder how they ever succeeded without the competitive advantage journey management provides.”