Updata Partners Invests in Market Leader for Online Customer Satisfaction Management
Earlier this month, ForeSee Results announced the completion of $20 million in funding led by Updata Partners with Investor Growth Capital as co-lead, joining existing investor CFI Group. Proceeds from the financing were used to repurchase a common stock position held by Compuware, Inc. and to provide working capital to accelerate growth.
“Updata Partners is focused on identifying investment opportunities in the ecommerce sector, and we're excited to back the market leader in online customer satisfaction measurement, an increasingly critical, strategic solution adding insight that traditional web analytics cannot deliver," said Barry Goldsmith, General Partner at Updata Partners. “We anticipate that Foresee's robust, on-demand business model will continue to generate loyalty among their fast-growing client base, driving significant growth.”
ForeSee's solutions use proprietary intellectual property initially developed at the University of Michigan associated with the leading index for measuring customer satisfaction, the American Consumer Satisfaction Index ("the ACSI"). Its service is delivered to customers on-demand, via a Software-as-a-Service (SaaS) model. Based out of Ann Arbor, Michigan, Foresee currently conducts more than 450 measures for clients including 3M, Best Buy, Borders, Cingular, Comcast, DuPont, Forbes.com, Home Depot, Intuit, the IRS, Kellogg’s, NASA, the NHL, Sprint, TIAA-CREF, Weather.com, and Whirlpool.
