Industry-leading provider of customer experience management software announces first round of institutional funding to accelerate global growth.
Vital Insights, a leading provider of enterprise customer experience management (CEM) software solutions, today announced the company has received a $20 million growth investment from Bregal Sagemount. Vital Insights will use the funds to continue its global expansion and capitalize on the increasing market demand for its flagship software-as-a-service product, Foresight™. Gene Yoon, Managing Partner at Bregal Sagemount, will join the company’s board of directors.
“As consumers continue to share more of their experiences through social media and other online channels, we see a clear demand for CEM solutions that empower brands to measure and, more importantly, improve customer satisfaction in real-time,” said Yoon. “Vital Insights has a proven track record of delivering this capability to brands around the world. We are very pleased to invest in an innovative market leader, and we look forward to pursuing additional growth opportunities in partnership with Jason and the Vital Insights management team.”
During the first half of 2012, Vital Insights experienced a period of tremendous growth. The company increased revenues by more than 30 percent and has established itself as one of the preeminent CEM vendors to the automotive industry. Foresight has over 125,000 enterprise users across over 4,000 automotive dealerships with major global brands including Mercedes-Benz, Maserati, Jaguar Land Rover, Volkswagen, BMW, Audi, Infiniti and many others.
“We are humbled at the level of commitment and support shown by Bregal Sagemount and are excited and ready to begin a new chapter at Vital Insights. This investment will allow us to continue on the path towards global expansion and solidify our footing as the market leader of customized CEM solutions for the world’s best brands,” said Jason Tryfon, President & CEO at Vital Insights. “Developing a user-friendly and highly advanced CEM platform for tracking and improving the satisfaction of a company’s customers is instrumental to the future of customer loyalty and retention.”
About Bregal Sagemount
Bregal Sagemount is a growth-focused private equity fund with $500 million in committed capital. Bregal Sagemount makes investments of $15 million to $150 million in market leaders in high growth segments. For more information, please see www.bregalsagemount.com.
About Vital Insights Inc.
Ranked on the Deloitte Technology Fast 50™ for 2010 and 2011 and most recently on the 2012 Branham300, Vital Insights is a leading designer, developer and distributor of innovative enterprise-class daily tracking and Customer Experience Management (CEM) solutions. Taking center stage in its product lineup is Foresight™, a platform that distributes, gathers, and manages customer feedback. As the pioneers and inventors of issue resolution management within automotive CEM, the Foresight platform boasts a patent-pending process that triggers an alert to key staff of unhappy customers in real-time. Vital Insights’ newest product Foresight Mobile™ – the industry’s first mobile application for CEM – gives users a timely tool to respond to time-sensitive issues, preventing possible customer defections directly from their wireless smartphones. With a dedication to continuous innovation and forward-thinking product development, Vital Insights continues its mission of building revolutionary CEM products for organizations around the world. Vital Insights’ global headquarters is in Mississauga, Ontario, Canada, with offices in Arizona and Germany. For more information, visit www.vitalinsights.com.
Rachel Lee, 1-905-565-5777 ext. 323