UserZoom raises first institutional US financing to help businesses measure and improve user experience of products
UserZoom Technologies, the leading User Experience [UX] research & testing SaaS platform, has completed a $34 million financing led by TC Growth Partners together with co-investors Trident Capital and StepStone Group. UserZoom intends to apply this capital to support its rapid growth and further disrupt the multi-billion dollar usability testing market. Founded in Barcelona in 2007 by Alfonso de la Nuez, Javier Darriba and Xavier Mestres, UserZoom is headquartered in San Jose, CA and has additional offices in Spain, the UK and Germany.
“Online and mobile users are more empowered than ever before and expect a seamless, intuitive experience without significant training. If users do not have a great experience, they will likely go to a competitor and may openly criticize a brand on social media. We started UserZoom to provide enterprises with the user data and insights they need to be successful in this new environment,” said Alfonso de la Nuez, UserZoom’s Co-Founder & CEO.
By leveraging its SaaS platform and managed services, UserZoom allows the world’s largest companies to conduct thousands of concurrent usability tests of their applications, so that they can continually improve the user experience and value proposition. Today, Fortune 500 companies like Lenovo, Intel and Citigroup power and automate their usability testing, for both websites and mobile apps, through UserZoom’s agile and cost-effective online research platform.
According to O’Keeffe & Company, an independent market research firm, 93% of the C-level Executives interviewed say that improving customer experience [CX] is one of the top three priorities for the next two years. Historically, large enterprises relied exclusively on in-person focus groups led by agencies to collect feedback, which often were time-intensive and costly. With the accelerating adoption of agile development and exponential increases in mobile activity, enterprises need a faster, more scalable and continuous solution for measuring and improving the user experience.
“We have followed UserZoom’s progress closely since 2012 and have been greatly impressed by both the founding team and the company’s ability to generate +100% year-over-year growth while maintaining profitability,” said Gustavo Alberelli, Managing Director at TC Growth Partners and new UserZoom Board member. “The company’s large enterprise customers consistently stress their need for UserZoom’s product offering and emphasize their rapid return on investment. We look forward to continue working with the UserZoom team to maximize the company’s full potential.”
About TC Growth Partners
TC Growth Partners is a growth equity investor in technology-enabled services companies. TC Growth is a spin-out of the growth equity team of Trident Capital, a multi-stage investment firm with seven funds and $1.9 billion of capital under management since 1993. The four investing partners of TC Growth have a long history of successfully working together in growth equity.
About StepStone Group LP
StepStone Group is a global private markets firm overseeing US$70 billion of private capital allocations, including approximately US$12 billion of assets under management. The Firm creates customized portfolios for the world’s most sophisticated investors using a highly disciplined research-focused approach that prudently integrates primaries, secondaries, and co-investments. www.stepstoneglobal.com
About Trident Capital
Trident Capital is a venture capital and growth equity investor that invests in enterprise software and services; internet and mobility; healthcare IT; and cybersecurity. Founded in 1993 and with $1.9 billion under management, Trident invests across North America in both minority and control investments. For more information, visit www.tridentcapital.com.