Artifact raises $2M from South Park Commons, Epic Ventures & more
We are excited to announce that we have raised $2M in seed financing led by South Park Commons with participation of 20 others.
I’ve spent my whole career in product design and product management. I’ve seen first hand how valuable it is for businesses to be able to understand and act on customer needs. I’ve also seen how incredibly difficult it is to move past filtered anecdotes and make data driven decisions based on historical knowledge of what the customer has said and experienced.
We've also spent a lot of time with hundreds of amazing practitioners at dozens of the world's most customer centric companies over the last year. We've seen a really distinguished pattern in these organizations. As they scale, an unwieldy amount of voice of customer data is created at every stage of the customer journey. They need to understand and find the red threads in hundreds of thousands of customer conversations. They need an evidence-based approach to understand the signal in all of that noise.
We are solving this problem by aggregating and integrating the customer voice into a sophisticated ontology so businesses can instantly understand what’s important to their customers. We're building the world's first customer knowledge graph.
Today we're really excited to announce that we have raised $2M in seed financing led by South Park Commons with participation of 20 other investors including Epic Ventures, Work Life Ventures, Oceans Ventures, Liquid2 Ventures, Pluralsight’s CXO Nate Walkingshaw, Greg Woodward, and SaltStack’s Benson Metcalf. $1.5M of this financing was closed in a predominantly institutional round in May.
This financing and our new partners are the ideal springboard for us to achieve our company mission over the next few years.
Here's what our lead investor, Aditya Argarwal, has to say about their investment into Artifact:
All of us at South Park Commons are thrilled to be partnering with Nate, Caleb, Trey and the rest of the Artifact team in their Seed round. The collection of qualitative data has exploded over the last few years, but there hasn't been a viable way to sift through this treasure trove of information. Companies are currently missing out on the valuable insights hidden in this data and making important decisions based solely on anecdotal evidence.
Artifact is the first horizontal big-data offering to harvest these insights and enable people to build with the customer's voice at their fingertips. Their initial product delivers immediate value by aggregating customer feedback and serves as a strong foundation to build additional features on top of. The Artifact founders have experienced this pain point first-hand while scaling Utah's top tech companies and we believe that they are the perfect team to tackle the problem. We are excited to join the team and work together to realize this vision
This spring was an obviously interesting and uncertain time to be raising capital. We hope to be integral part of propelling the Utah economy forward with new jobs, sustainable growth, and new opportunities.
We've already made some critical software engineering hires to bolster our data science and machine learning capabilities inside of Artifact. We'll be joined by talent that have built some of the most advanced solutions in machine learning, natural language processing, and knowledge graph technologies.
We've immediately started work on a new feature that will classify voice of customer data into mission critical insights that can be acted on immediately. We'll be building more capabilities to help our customers monitor what their customers are saying at scale.
We’re still at beta stage of our product. We’re spending an enormous amount of time on testing, iterating and polishing until every detail is perfect. If you'd like to take a look at what we're up to-- feel free to schedule a demo on our website.