Wonderflow, an Amsterdam-based startup for customer feedback analysis has received funding from Programma 102, the second investment vehicle of venture capital manager P101.
As per the company press release, the firm has invested €1.5 million in Wonderflow, an Amsterdam based company active in big data, which is able to extract useful information from consumer feedback in order to support companies in product innovation and strategic marketing.
Through these funds, the startup headquartered in the Netherlands intends to consolidate its position in the European market, fostering the development of its descriptive and predictive analytics technologies.
Rise of Wonderflow
In the year of 2017, Wonderflow turnover reportedly increased by 350%, with a network of over 60 employees in 15 countries, serving companies such as Philips, Samsung, TomTom, UBER, Reckitt Benckiser, Beiersdorf, DHL, Kantar, and more.
This is the first investment carried out by PROGRAMMA 102, a venture capital fund launched in May with the aim of raising €120 million, of which approximately 75 have been subscribed. The European Investment Fund and the Italian Investment Fund both contributed to the fund as cornerstone investors, together with other important institutions such as Azimut and Fondazione Sardegna.
Why Wonderflow is so important?
Wonderflow, led by Italian CEO Riccardo Osti, deals with the analysis of consumer feedback and is active in offices in Amsterdam and Trento.
The company extracts key information that is essential for other companies to improve products and services. That’s why digital and technology-driven companies that provide B2C and B2B services based in Italy or led by Italian entrepreneurs abroad, as well as European companies willing to enter the Italian market.
Further, Wonderflow’s technology allows the processing of over 150,000 texts per hour and supports over 10 different languages, including Arabic and Asian.
“Digital communication has improved our capability to collect and analyze consumer data tremendously; today, we face a wide range of feedback, comments, online conversations that can be tracked and integrated in order to elaborate a clear and precise business vision, not only as far as customer satisfaction is concerned, but also as far as brand loyalty goes, including outlining the margins for the implementation of a service or product. These insights are essential in a market where competition is played on a global scale. Wonderflow is a leader in this field: it is able to analyze hundreds of different sources in different languages in a quick and precise way, thus providing companies with accurate customer insights,” said Giuseppe Donvito, Partner of P101 SGR.
“The entry of P101 in our corporate capital represents a fundamental step in the growth phase of the company. We have global ambitions, with a growing demand from large international customers that not only invite us to enter new markets quickly but also ask us to develop ever more innovative technologies. This new capital injection will support our goals to increase our market share in Europe and to develop advanced prediction technologies,” added Riccardo Osti, Wonderflow’s CEO.
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