SaaS company TheyDo has raised an additional $34 million in a funding round led by Blossom Capital. This funding enables the company to provide more value to its customers, utilize AI support and improve data integrations.
TheyDo, a company providing a journey management platform, has secured an extra $34 million in funding led by Blossom Capital, with backing from current investors Arches Capital and InnovationQuarter, and new support from Steven Van Belleghem, an advocate for global customer experience, along with HighSage Ventures and 20SALES. In 2022, after receiving €1.7 million in February, the company raised €12 million in Series A funding in December.
With the recent funding round, TheyDo has now raised almost $50 million in total investment. This comes after another year of impressive triple-digit year-on-year growth, surpassing the A16Z model for SaaS growth.
According to the press release, the funding empowers TheyDo to further advance their leadership in journey management on a larger scale. They plan to boost research and development efforts, particularly focusing on AI and data ingestion. Additionally, the company aims to expand its customer-facing team in the United States.
Jochem van der Veer, CEO and Co-Founder of TheyDo said: “What’s most exciting about our growth is we’re not just building a company or a product – we’re fostering a movement of journey-centric companies. We’ve simplified the biggest business problem of the last century: working customer-centric at scale. With journeys at the heart, we’re bringing an operating model that is agile and customer-centric…Executive teams are feeling the pressure to deliver more value for customers with less, especially in this economic climate, and what we’re seeing is a growing recognition that journey is the most powerful business tool that they have at their disposal to do that. ”
Ophelia Brown, Blossom Capital, shared: “TheyDo’s acceleration has been very impressive. Since our initial investment, there’s been very clear acceleration in market demand by large enterprises. TheyDo has pioneered this category and its product only compounds in value as they are fast adding new features. Given the clear opportunity ahead, we were keen to double down on our investment and continue supporting the team in their ambitious plans. We are proud to champion this trailblazing European startup as it continues its expansion locally and across the Atlantic.”
The company currently has a global team of 70 members, and it’s projected to grow to 100 by the end of the year. They’re focusing on hiring top talent to support their growth, particularly in the United States.
About TheyDo:
Founded in 2019, TheyDo provides a journey management platform, empowering businesses to utilize their journeys as valuable assets. TheyDo’s framework and platform help organizations manage their intricate journeys and streamline them for effective growth, eliminating the necessity for continual transformations.
They’re helping every company become more efficient by reusing customer journeys and prioritizing opportunities across teams. With TheyDo, businesses can handle journey strategy, planning, and execution all in one platform, bringing together different departments with a common focus: the customer journey.
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