Seattle-based startup Spiral which examines customer feedback, raises $1.25 million
- ByStartupStory | November 15, 2022
Spiral, a Seattle-based business, raised an additional $1.25 million to accelerate the creation of its AI-powered software that searches for and evaluates consumer input. 2018 saw the co-founding of the 7-person startup by Elena Zhizhimontova and Andrew DiLosa. Before starting Spiral, both founders worked as software developers for Fire TV at Amazon for four years. The business is currently growing its engineering and sales teams with the goal of having 12 employees by the end of the first quarter of 2023.
The startup offers artificial intelligence software that analyses customer feedback from various channels. This enables businesses to quickly fix bugs and other issues that customers may have reported.
Numerous other startups are using AI to target a related market. Former Amazon Alexa employees founded the Santa Barbara, California-based company Unwrap, which sells an AI-powered platform for collecting and analysing customer feedback. After completing the incubator programme at Seattle’s Allen Institute for AI, it raised $3 million. Enterpret and Viable are two further noteworthy players.
Spiral sells its technology to medium-sized to large businesses, including those in the banking, fintech, connected devices, and insurance sectors. According to Zhizhimontova in an email, the company currently has more than 12 clients using its software, and “a lot of incoming customer inquiries.”
We are aware that funds have become more constrained generally, but many businesses are actively looking for conversion- and retention-focused solutions, the spokesperson stated. They understand that keeping current customers satisfied is significantly more affordable — and kind — than attempting to win them back after a churn-causing event. Spiral raised $2.4 million in 2019 and took part in the Alexa Accelerator programme run by Amazon. The most recent round of funding was provided by Trilogy Equity Partners, a venture capital firm based in Bellevue, Washington, as well as Techstars, Community Access Fund, angel investor Kevin Mahaffey, and AVG/Triphammer Ventures.
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