InMoment, Utah customer experience platform, snapped up by Chicago equity firm

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Buyer experience platform InMoment announced Wednesday it’s being acquired by Chicago-based mostly personal fairness firm Madison Dearborn Partners.
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SOUTH JORDAN — Buyer expertise platform InMoment introduced Wednesday it is being acquired by Chicago-based mostly personal fairness firm Madison Dearborn Companions.

While the value of the deal has not been released, 17-yr-previous InMoment has previously drawn some $34 million in venture funding. The corporate has carved out its personal niche in the burgeoning customer experience market by leveraging survey knowledge alongside other customer interaction info to offer its shoppers with perception about enterprise efficiency across multiple metrics.

Whereas one other Utah-based mostly customer experience firm, Qualtrics, has garnered numerous consideration as one of many largest corporations in the sector and was acquired by European enterprise software big SAP in an $8 billion deal announced late final yr, InMoment CEO Andrew Joiner informed the Deseret News his company has innovated in areas that distinguish it from its neighbors to the south.

“We expect past surveys, to get to the guts of the client expertise,” Joiner stated. “Experiences are complicated and dynamic and we have now unique approach of using our science to know that.”

Buyer expertise is a term that’s been thrown around so much in the tech realm, notably as it’s a comparatively new enterprise sector and one by which Utah corporations have found a excessive degree of success in building.

Primarily, the “customer expertise” is an individual’s internet takeaway, or perception, of an organization after they’ve had an interaction, be it a purchase, use of a service and even simply an inquiry. Did that individual feel like they paid an excessive amount of? Did the product or service reside as much as the client’s expectations? Did they interact with an worker and, in that case, how did that go? Would they purchase from the company again? All questions that customer expertise platforms like InMoment not only help a shopper to answer however, when failures or underperformance are highlighted, assist to rectify.

InMoment counts some heavy hitting corporations like Starbucks, Tiffany and Co., Nike, VW and others among its shoppers, and Joiner stated the market continues to broaden.

“Every company has a necessity to have the ability to sift out the signal from the noise relating to buyer experience,” Joiner stated. “Our strategy is to not simply ask more questions…

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