Today we are very happy to share that Wonderflow, a 2014 portfolio company, has raised €16.5m (USD$20 million) of growth funding led by Toronto-based Klass Capital – a long term oriented growth equity firm that invests in enterprise software businesses. Existing investors, including Italian venture capital firm P101, ITALIA 500 (Azimut Group) and renowned Dutch top manager Jan Bennink, also participated in the round.
Wonderflow makes VoC data valuable for businesses. Today, most enterprises that generate a large amount of unsolicited customer feedback are not able to properly leverage the data they have collected. Through its proprietary AI, Wonderflow can analyze all unstructured feedback, from multiple sources, and help brands improve the overall customer experience. Wonderflow is part of the VoC analytics sector. According to the most recent estimates by Gartner, this market is steadily growing at approximately 20% to 25% per year, which has driven the VoC application software market size above $2 billion.
Wonderflow was founded in 2014 by Italian entrepreneurs Riccardo Osti, Giovanni Gaglione, and Michele Ruini. Despite the pandemic, the company has grown more than 100% in the last 12 months. Wonderflow assists brands like Philips, Colgate-Palmolive, Uber, DHL, Delonghi, Reckitt Benckiser, Beiersdorf, Beko, Samsung, GSK, Lavazza, Grundig, Kantar and many more. In the first year of using the platform, many of Wonderflow’s customers achieved growth in consumer satisfaction of up to 100%.
Today, approximately 50 people work in Wonderflow’s offices located in Amsterdam, Milan, and Trento. The founders have built a business environment rich in values and diversity as the company has employees from more than ten nationalities and over 60% of team members are women. Furthermore, the team includes senior executives and serial entrepreneurs who have advanced knowledge in the Customer Experience (CX) industry, particularly when it comes to driving customer insights through AI and Big Data. Wonderflow is recognized as the only HOT Vendor in the feedback analytics category in Europe by Aragon Research, Ovum, and OMDIA.
Riccardo Osti, CEO of Wonderflow, stated:
“Our partnership with Klass represents an important step in our global expansion plan. We will continue investing in Artificial Intelligence to strengthen our leadership in Natural Language Processing, Prediction, and Narrative Insights. We will grow our teams in Europe and North America to offer increasingly strong support to our enterprise customers.”
Rockstart accelerated and invested in Wonderflow back in 2014 when the company was in its pre-revenue stage. Rune Theill, CEO & co-founder at Rockstart, commented on the round:
“When we met Riccardo and Giovanni, Wonderflow was still pre-revenue. During our due diligence process prior to our investment, we were impressed with their ability to move fast and translate customers’ needs into easy-to-understand technical solutions. We are proud to have been the first investor in them and are excited to see that the founders are bringing on new expertise to take Wonderflow to the next level.”
Daniel Klass, Founder and Managing Partner of Klass Capital, stated:
“We’re impressed with Wonderflow’s cutting-edge technology and culture of innovation. The way Wonderflow uses advanced AI to analyze customer feedback is clearly disrupting the market.
During the time we spent with Riccardo and the Wonderflow team, we were struck by their tenacity and collaborative approach with their partners. We’re excited to start working with Wonderflow to help them scale and become the new global standard in customer feedback analysis.”
Jan Bennink – Wonderflow Board Member also commented:
“As a Wonderflow board member, I am very pleased that Klass Capital has decided to make an important investment in the company’s growth. Since its launch as a start-up in Holland in 2014, Wonderflow has achieved tremendous growth and development. Its innovative technology to distil the voice of the customer and its predictive capabilities have proven to be very helpful for many companies in developing and improving their products”.
Moreover, Tjarda Voorneman, Lead of the Rise Program at Techleap.nl states:
“Wonderflow is one of the leading examples in the Netherlands of a startup that can scale extremely quickly. From Techleap.nl and the Rise program, we think it is important to give Wonderflow a stage in the Dutch ecosystem. With this funding round they show they are fast growers, ready to take over the world.”
Congrats to the team and looking forward to seeing them grow further in the coming years.