Customers are inundated with ads, encountering an average of 6,000 to 10,000 ads each day. The surplus of information thrown at us means brand loyalty is fading and customer experiences now determine a business’s fate.
Boulder-based Tetra Insights, a research operations platform, aims to help businesses align customer experience with strategy and execution. The company announced on Friday that it raised a $5 million Series A round. Access Venture Partners led the round with additional participation from Next Frontier Capital and Active Capital.
Tetra’s platform turns user research into insights. Here’s how it works: Employees upload audio or video recordings to the Tetra platform. Tetra then transcribes the file. Once transcribed, employees can leave comments, collaborate and tag other employees. The video or audio, transcription and notes can also be sent to other employees keeping everyone on the same page. The platform is primarily used by UX designers, product managers and researchers at companies such as Yara International and Segment.
“Tetra has been a gamechanger for incorporating insights from qualitative research into our product,” Kevin Niparko, product lead at Segment, said in a statement. “User research has become an increasingly critical part of how we prioritize and design new product features. Tetra allows us to find and share insights from this data in intuitive ways. Our team is now using Tetra to share these direct customer insights throughout our product development process.”
Tetra’s platform automates research operations and streamlines data analysis. Users can also search the platform for keywords and phrases, similar to a Google search.
“We are partners with our customers, and we know they rely on us for some of the most critical and sensitive work they do,” Michael Bamberger, CEO and co-founder of Tetra, said in a statement. “This investment allows us to further innovate and enhance our value to our customers while deepening our commitment to enterprise standards for quality, security and reliability.”
Funds from this round will be used to further develop Tetra's platform, hire additional staff and open a headquarters in Boulder later this year. Tetra has 16 employees across the world, including several employees in Colorado, Texas, California, Florida and Missouri. Bamberger told Built In he plans to hire at least 20 new employees in the next 12 months.
