HQ: Helsinki, Finland
Invested in: Q1/2018
Founders: Johanna Sinkkonen, Suvi Lindfors, Carlos Del Corral
Keywords: SaaS, NLP, machine learning, B2B, customer experience
How to Truly Listen to Your Customers
Companies across all industries face a common problem: what to do with all the customer feedback they receive. They want to be customer-centric, they want to offer products and services that customers want, they want to make improvements based on customer input. However, with so much information coming in, it can be hard to make this data actionable.
While companies are able to track some high-level statistics, many decisions come from market research or gut feelings. The free text feedback is difficult to process: even if you know what is being talked about, it is seldom clear what improvements should be prioritized to improve the customer experience. Now, with Lumoa’s innovative service, companies can make this customer feedback actionable, no matter the volume, language or industry.
The business ideas behind the Finnish startup come from the founders’ long experience in the corporate world at companies like Nokia and Microsoft. Co-founder and CEO Johanna Sinkkonen recognized the need for better customer data integration and met with Suvi Lindfors (Sales) and Carlos del Corral (Customer Success) who were working on similar problems. The three joined forces to develop Lumoa and now have a team of eleven.
Lumoa’s online software as a service (SaaS) offering allows companies to receive customer feedback in real-time, from all over the world. The customer feedback is analyzed using NLP and machine learning. Via a simple dashboard, companies can get quick insights into their performance and learn why customers are happy or unhappy. Their SaaS automates a lot of work that is currently being done manually in large organizations or outsourced to external agencies.
Their service is targeted to medium and large-sized companies who typically receive the most customer feedback and have the hardest time weeding through the information to get at what needs to be done to improve the customer experience.
Venture capital financing will help them work towards their goal of increasing revenue, expanding sales and marketing and improving their ability to scale. It will also help them address the lack of resources available in Finland and overcome the challenge of building connections with customers.