Reputation announced today that it has closed a $150 million minority growth funding round. This comes at the same time as Reputation passing $100 million in annual recurring revenue (ARR), a SaaS industry indicator that reflects yearly subscriptions.
“More and more companies are pushing the envelope on wanting more information on the Voice of the Customer,” Joe Fuca, CEO of Reputation, told CXBuzz ahead of the announcement.
Fuca continued: “The customer experience market is growing exponentially on a global basis because it’s the only way for companies to stay competitive and stand out. This round of investment will allow Reputation to continue its proven momentum in the CX space — we plan to support our global customers through expanded operations in the EMEA markets, invest in the platform, and bolster our R&D budgets to ensure we continue to be a leader in the Feedback Economy.”
The funding round came from Marlin Equity Partners, with assistance from Goldman Sachs.
“We are thrilled to partner with Reputation on its quest to solidify its market-leading position within the customer feedback market,” said Nick Kaiser, Senior Managing Director of Marlin Equity Partners. “We believe Reputation is a highly differentiated market leader with industry-leading bookings growth underpinned by robust retention rates. We look forward to building upon the strong momentum that already exists in the business and accelerating growth both organically and through M&A.”
Reputation, a global organization focused on Reputation Experience Management (REM), looks towards exponential growth in the future.
The company aims to leverage the investment in order to improve their existing REM platform that seeks to enable understanding of customer feedback and how brands might act on it. According to a press release, this investment, described as a strategic investment, aims to “drive further product innovation, expand upon its ever growing customer and partnership ecosystem, and fuel the company’s international expansion — which is already seeing greater than 80% year over year growth.”
Reputation is certainly kicking off 2022 with a bang which will have knock-on effects as their technology is already utilized by thousands of other organizations, several of which are Forbes Fortune 500 members. As the CX industry grows, so too will organizations like them.