Y Combinator startup Statwing acquired by Qualtrics
“Our mission at Qualtrics is to democratise customer experience,” says cofounder and CEO of Qualtrics, Ryan Smith.
“Historically, setting up a customer experience program, implementing a technology, and driving revenue growth through customer satisfaction has been very hard and service intensive because of technology shortfalls. We’re changing that, and the addition of Statwing is just one more piece of the puzzle.”
“In today’s business environment, employees across the organisation must be able to analyse data, draw insights, and predict customer needs to drive revenue growth. The combination of Qualtrics and Statwing is allowing organisations to reach a level of insight they have never had access to before – it’s incredibly simple and can be used by anyone.”
Qualtrics is reshaping the world of customer experience the way it reshaped the market research industry. In February, Qualtrics launched the Qualtrics Insight Platform, bringing together customer experience management, employee engagement, and market research into a single platform that doesn’t require coding or third parties to make changes.
With the addition of Statwing’s technology to the Qualtrics platform, any user will be able to dive deep into actionable data without having to spend hours performing cumbersome analysis in systems like R, SPSS, or Microsoft Excel. Even more importantly, organisations that previously weren’t able to discover predictive insights now can.
The deal comes as Qualtrics, a pre-IPO company that is one of the few cashflow positive unicorns, continues to put a new face on the multi-billion dollar customer experience management industry. Up to this point, all Qualtrics growth has been organic. This is the first of many acquisitions for the company.
“We’re thrilled to be joining the Qualtrics team and to see our technology integrated with the amazing platform Qualtrics has already created,” said Greg Laughlin, cofounder and CEO of Statwing.
“Statwing makes it easier than ever to turn data into predictive insights. By joining Qualtrics, we are creating a new world where you don’t need to be a statistician to know who the next three customers are that plan to leave your business or to know what levers you need to pull to keep them.”