Bloomreach Secures $30 Million Credit Facility  

Software developer and customer journey orchestrator Bloomreach has entered into a $30 million, three-year credit facility with J.P. Morgan.

The $30 million base facility includes a debt accordion that may permit up to $130 million in borrowing, and follows a $175 million equity investment announced by the company in February 2022. 

The line of credit follows a quarter of significant achievements and momentum for Mountain View, California-based Bloomreach, the developer of a cloud-based software that connects both customer and product data to personalize all customer touchpoints.

In addition to driving continued success for its customers—including notable results for Benefit Cosmetics and boohooMAN—the company was recently named to the 2022 Inc. 5000 list of fastest-growing private companies in America, was the recipient of the 2022 International SaaS Award for Best SaaS Product for E-Commerce and E-Shops, and was also certified as a Great Place to Work in the US.  

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Estonian Quality Management Platform Klaus Raises €12 Million in Series A Funding 

Klaus, the provider from Tallinn, Estonia, of an artificial intelligence (AI)-powered platform that seeks to put an end to poor customer service, recently raised €12 million in Series A equity funding.

The round was led by Acton Capital, the international venture capital fund investing in tech-enabled startups in Europe and North America. with participation from previous investors Icebreaker, Creandum, and Global Founders Capital. The new round of funding will enable Klaus to strengthen its product and engineering teams while also letting the company expand into sales and marketing.

Martin Koiva, co-founder and CEO of Klaus, notes that the funding signifies the company can start scaling growth to the next level. The capital infusion will also enable the company to hire enough people to nearly double the current employee headcount, Koiva adds.

Founded in 2018, Klaus is a quality management platform for support teams that integrates with help desks, and supports major contact center platforms that include Zendesk, Salesforce, and Intercom. It collects every text and audio customer interaction, considers dozens of potentially problematic factors, and identifies outlier conversations that require further investigation. 

The company has attracted enterprise customers of global scope or size, including Spanish quick-commerce startup Glovo, online audio distribution platform and music-sharing website SoundCloud, and video game and software developer and publisher Epic Games.

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Ovation Secures $2 Million for Its Restaurant Guest Feedback Platform

Ovation, the provider of a guest feedback platform for restaurants, has secured $2 million in funding to accelerate growth of the company and its customer success team.

Through frictionless integration with online ordering platforms and other methods, Ovation allows restaurants to resolve guest concerns in real time, obtain more five-star reviews, and discover insights for improvement. Such a cycle, in turn, leads to increased customer engagement and higher retention. Ovation restaurants include Burger King, Dominos, El Pollo Loco, and Sticky’s Finger Joint.

The new funding was led by York IE, a vertically integrated strategic growth and investment firm helping reshape the way companies are built and monetized, together with Branded Strategic Hospitality, an investment and advisory firm focused on early- and growth-stage technology in the restaurant and hospitality industries. Existing Ovation investors include Monta Vista Capital, Steve Young, and 500 Startups.