Turning Customer Feedback into Gold: A Startup Uses AI to Unlock Business Insights
In today’s tech-driven world, companies constantly seek ways to understand their customers better. While gathering feedback has become easier than ever, many businesses struggle to make sense of the vast amounts of data they collect. Enter Enterpret, a groundbreaking platform leveraging artificial intelligence to help companies extract valuable insights from customer interactions.
Enterpret was born from the personal experiences of its co-founders, Varun and Arnav Sharma. Having witnessed firsthand the challenges of leveraging customer feedback at companies like LinkedIn and Amplitude, Varun realized the vast untapped potential of these data points. "Customer interactions are a precious, yet immensely underutilized, data set for all enterprises," Varun explained.
Recognizing the need for a streamlined solution, Varun enlisted his brother Arnav, a software engineer with experience at Uber, to build a tool that could analyze and interpret customer feedback. What began as a simple solution quickly evolved into an all-encompassing platform.
Enterpret boasts the ability to connect to various feedback sources like support tickets, survey responses, and even social media interactions. By employing cutting-edge algorithms, the platform identifies overarching themes, uncovers emerging problems, and highlights crucial areas for improvement.
“Enterpret is able to pull in all customer interactions of a company in real time… give them a quantifiable structure, and then join the output with product usage and revenue data of the company to operationalize decision making,” Varun elaborated.
This real-time analysis empowers companies to make data-driven decisions, from identifying potential churn risks to validating product hypotheses.
One of Enterpret’s key differentiators is its commitment to data privacy. Customers can define rules to scrub personally identifiable information from the data, ensuring compliance with regulations like GDPR.
Enterpret’s success resonates in its impressive growth trajectory. The company claims its annual recurring revenue (ARR) has doubled between May and now, with contract value doubling over the past year. This momentum propelled Enterpret to recently close a $20.8 million Series A funding round, bringing its total funding to $25 million.
Leading the round were Canaan Partners, with participation from Kleiner Perkins, Peak XV Partners, Wing Ventures, and Recall Capital. The funds will be used to fuel further product development and expand Enterpret’s team.
As Varun Sharma aptly put it, “Enterpret’s ambitious vision is rooted in the realization that customer feedback is the most valuable data set of any company. Our mission is to build the platform for all companies that aspire to be customer-centric.”
By harnessing the power of AI, Enterpret empowers companies to unlock the hidden value of customer feedback, ultimately transforming that information into actionable insights that drive growth and innovation.
