Dutch startup TheyDo preps US growth as it raises $34 million in funding round led by Blossom Capital
Customer journey management platform, TheyDo, has secured an additional $34 million in a Series A+ funding round.
Blossom Capital led the round, supported by other existing investors Arches Capital and Innovation Quarter and joined by global customer experience evangelist Steven van Belleghem, Highsage Ventures and 20Sales.
The round will enable TheyDo to increase R&D, focus on AI and data ingestion, and build out its customer facing team in the United States.
The startup was founded in 2019 out of the need for a solution to move beyond mapping customer journeys in large static documents to a live platform that enables a bias for action.
With TheyDo businesses are able to do strategy, planning and execution all in one place and align the silos with the customer journey.
“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,” says TheyDo CEO and Co-Founder Jochem van der Veer.
“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.”
The new funding round brings total investment to date to just under $50 million. Customers include Cisco, Ford, Johnson&Johnson, Home Depot, and Polestar.
Ophelia Brown, Blossom Capital, comments “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.”
van Belleghem comments: “Every business wants to be customer centric, but for most, it’s the pot of gold at the end of the rainbow they can’t quite reach.”
“The challenge for most businesses is not ‘what do we need to do?’, but rather ‘how are we actually going to achieve it?’. I look forward to partnering with TheyDo with its go-to-market strategy, expanding into North America and creating the enabler of customer centric growth for companies of all sizes.”
Over the last year, TheyDo has launched several new features and accelerated partnerships with experience management platforms like Qualtrics.
The Netherlands-based firm now has a team of 70 worldwide and is expected to reach 100 before the end of the year to help drive its growth, particularly in the United States.
