When Ragy Thomas last raised money for his software company Sprinklr in 2016, the startup appeared on strong footing, with more than $100 million in annualized revenue and a newly-minted unicorn valuation. But behind the scenes, the company was struggling to outgrow its social media roots. Customers and employees were heading for the exits at a disturbing rate. “We had a dark year for the company,” Thomas says.
Known for its tools that help companies post messages and communicate with customers on popular social media platforms like Facebook, Instagram and Twitter, Sprinklr wanted more: to be considered a serious player in a larger, more complicated market of “customer experience,” where tech giants such as IBM, Oracle and Salesforce dominate alongside newer businesses like Qualtrics and SurveyMonkey. [ Forbes ]