FullStory raises $25 million to help companies identify problems in their apps and websites – MovieUpdates

FullStory, which sells analytics tools for apps and websites, has secured $25 million in new equity funding, according to paperwork filed this week with the U.S. Securities and Exchange Commission. MovieUpdates was unable to independently confirm the investors and the company had not responded to a request for comment at press time. But according to Crunchbase, the infusion is FullStory’s first since August 2021 and brings the company’s total amount to about $200 million.

Atlanta-based FullStory was founded in 2014 by Bruce Johnson, Joel Webber and Scott Voigt, who wanted to build a product that helps brands create better customer experiences across the web and mobile. Before launching FullStory, the co-founders — all graduates of the Georgia Institute of Technology — teamed up in the early 2000s to create a DevOps company called Innuvo, which was acquired by Google in 2005 for an undisclosed amount.

Originally intended as a marketing tool, FullStory revolved around analytics, customer success, and engineering after the co-founders realized that the tooling they created to find out why their original idea wasn’t working had commercial potential.

Today, FullStory collects and structures digital experience data and uses AI to extract insights from behavior. The platform tracks signals such as highlights, scroll depths, pinch-to-zoom frequency and copy and paste, shows statistics and reconstructs a user’s journey with vector-based images. FullStory can also search a series of possible “friction events” to see how often they correlate with not converting (ie achieving a desired goal, such as making purchases). Saved reports and automated alerts, meanwhile, track progress and highlight anomalies, such as when a click leads nowhere due to a blip in a JavaScript snippet.

FullStory claims its approach provides an easy way to understand whether a customer is, for example, comparing or simply conducting a search. In an earlier interview, Voigt said a home improvement provider used FullStory to identify a spike in garage mat sales during the pandemic and update its marketing materials accordingly.

Full story

A glimpse of FullStory’s dashboard for monitoring digital customer experiences.

The digital transformation efforts driven by the pandemic have been a boon to FullStory, which currently has more than 3,200 customers, including Groupon, Automattic, Peloton, Fidelity and JetBlue. In 2021, the company – which has received support from VCs including Permira – Lesser PerkinsGV, Stripes, Dell Technologies Capital and Salesforce Ventures — claims to have increased annual recurring revenue by more than 70% year over year.

FullStory claims it analyzed more than 15 billion user sessions by 2021, including nearly 1 trillion clicks, text highlights, and scrolls.

“As people manage more of their work and personal lives online, companies across industries have embraced FullStory for the insights they need to deliver high-quality digital products and experiences,” Voigt said in a recent press release. “FullStory’s comprehensive DXI platform provides a unique view of real user behavior and brings out the ‘unknown unknowns’ to drive product analytics, UX research, conversion optimization, and more.”

Building differentiated digital experiences is clearly a challenge. Fifty-eight percent of customers believe most brands’ experiences have little to no impact on what they end up buying, and nearly half can’t tell the difference between experiences, according to a Gartner poll. Part of the problem lies with the C-suite, which continues to push for digital experiences without thorough bug testing and full understanding of what would motivate their customers to try them.

Dead links, glitches, and unsubmittable forms can pollute companies’ apps and websites. These current barriers to work and leisure can lead not only to overworked customer service teams, staff shortages and long wait times. Customers rarely forgive – 64% admit to jumping to a competitor after a bad customer experience.

The demand for more thoughtful implementations has benefited not only FullStory, but also its rivals in digital analytics of customer experiences, such as Clootrack. Glassbox and Decibel are arguably the most formidable, having raised tens of millions in venture capital together.

Wanting to set the pace (or at least hold it), FullStory expanded its leadership team in 2021 by hiring Edelita Tichepco as CFO and Google veteran Jim Miller as VP of recruiting. Will Schnabel also joined the company as SVP of Alliances and Partnerships, with experience forging partnerships and integrations from his time at Accenture and IBM Watson.

FullStory also doubled its workforce to more than 500 employees by 2021, with teams around the world including San Francisco, London, Sydneyand Singapore past Atlanta.

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