It doesn’t matter what kind of website it is, the “customer journey” has always been important, otherwise you lose that engagement and the end result can affect the end result. This has always been the case.
But in the modern era, customers expect an easy and straightforward experience, otherwise they move elsewhere. And with the huge digitization that has happened since COVID, the competition to be better is vast. Additionally, the pandemic has also created all sorts of new problems, as hybrid or remote teams are now working at different times, leading to data spaghetti junction.
Startups like Milkymap (Netherlands), Smaply (Austria) and Journeytrack (US) have popped up trying to tap into this burgeoning market, although it’s unclear if any of them between them has already raised venture funding.
So, in a sense, the starting gun in this market has now been fired with the news that TheyDo has now raised a round of 12 million. One round is led by Blossom Capital, with participation from 20VC, also based in London. This tour included angels such as Des Traynor (Intercom) Founder and Grisha Pavlotsky (Miro), as well as other senior unicorn angels such as Figma, Snowflake, Calendly, Retool and Amplitude.
TheyDo’s “Journey Management” platform tackles so-called “customer-centric alignment,” an industry expected to be worth $48.5 billion by 2023 (according to Future Market Insights ).
TheyDo claims to show businesses where all incoming metrics and quantitative data are linked, where the data comes from, and how it all affects the customer journey. This means teams from CX to Product, Marketing, Sales, and Customer Success have a more comprehensive “dashboard” of issues to monitor and improve on.
Founded by Jochem van der Veer, Charles Beaumont and Martin Palamarz, TheyDo says it’s now used by teams from Atlassian, Cisco, IBM, Johnson & Johnson, T-Mobile and Qualtrics.
During a call, TheyDo co-founder Jochem van der Veer told me that large companies are now placing a high priority on customer experience: “There’s a shift in mindset going on where these companies are now realize that organizing around their customer journey is just the only way they can stay relevant, and they lack the tools to actually support that workflow.
Warming up to this theme, Harry Stebbings, Founder of 20VC, added: “With increasing consumer expectations for products, there’s just a real fragmentation of roles within companies. When we now look at all the different roles within the product, from product management, product marketing and everything in between, the fragmentation of all these different functions means it’s increasingly difficult to create a great experience unified because you work in isolation. And so the specialization of these roles means that it’s increasingly important to have a unified flow to create this great experience.
That’s where TheyDo comes in, says van der Veer: “It’s really this whole way of organizing large organizations internally, taking into account the customer perspective. And that’s the massive trend that TheyDo is tackling.
He says his customers now range from the Dutch Postal Service to Johnson and Johnson to Atlassian.
Interestingly, the journey to the TheyDo product was born out of van der Veer and his co-founders’ experience as a CX agency (or “SWAT team” as he calls it) where they would go to a company to figure out what was wrong. From that experience, they created a product to “scratch their own itch” and it eventually became TheyDo.
“We were hired as a consulting firm at these large Fortune 500 companies to transform them from within. But we realized that to scale our business, we needed software to grow what we were doing. Eventually our client will say ‘Can we hire you to do this job and can we also get the technical solution you have?’ That’s when we realized there could be something bigger here,” he told me.
Stebbings points out that’s exactly a pattern he looks for in startups, as an investor: “I’ve learned that there’s a pattern when you have agencies that turn into products because they build them. internally and that their customers love them. From Intercom to MailChimp. They tend to work very well.
That remains to be seen in the case of TheyDo. However, it’s clear that both Blossom and 20VC are banking on history repeating itself.