Region: South East
Programme: Enterprise Capital Funds
UserReplay is a Digital Customer Experience Management (CEM) software solution.Companies are typically drowning in metrics about customer visits to their digital properties but have very little insight into the experience of individual customers. For example, online retailers often know how many customers are abandoning at different steps of their checkout process but have no idea WHY they are abandoning. The only way to really understand this is to be able to replay individual customer sessions and see exactly what the customer saw. This is a key capability of Digital Customer Experience Management (CEM) technology such as UserReplay.
- It provides the ability to replay individual customer sessions to understand customer obstacles. However UserReplay also provides the analysis tools that direct the user to the customer sessions that are most relevant for replay analysis
- UserReplay provides valuable insight into what e-commerce customers actually experience. UserReplay helps to optimize the online channel by identifying, diagnosing and fixing barriers to conversion
- UserReplay identifies all the main categories of conversion barriers: Usability problems, confusing business logic, technical problems and performance problems. It also enables these problems to be prioritised by analysing their impact on conversion and sales.
In order to maintain 100%+ year on year growth, UserReplay needed to raise funds to expand their technical and sales team, including hiring a 4 person sales and technical post-sales team in the USA
They knew Simon Murdoch and Damien Lane from Episode 1, as they were already Angel Investors in the business. Episode 1 ECF was the ideal partner for them going forward given the existing relationship and the greater firepower they could deploy as a fund
User Replay raised a total of £2m of which Episode 1 contributed just over half. With this money they have more than doubled their team, including key hires in the USA to expand growth in their largest market.
John Thompson, CEO of User Replay, said:
“Securing this round of finance gave us increased credibility with customers, the ability to invest in innovative new features, and the ability to expand our business to the US with confidence”
The funding accelerated the growth of the company to over 200% in the year the funds were raised and should enable User Replay to continue to grow rapidly.