UnitQ raises $30M in Accel-led round to help companies improve product

Product quality is extremely important when it comes to the success of a product. Even if your product looks really good, if it’s buggy or doesn’t work well, many people use it instead of taking the time to figure it out or report a problem. will stop using it.

UnitQA Burlingame, California-based startup using a data-driven approach to product quality today announced that it has raised $30 million in a Series B funding round led by Accel to tackle this issue. In a nutshell, the company uses artificial intelligence to help businesses determine what is impacting product quality at any given time, notes UnitQ co-founder and CEO Christian Viklund.

While he would not disclose valuations or hard revenue figures, the CEO says UnitQ is tripling its ARR (annual recurring revenue) every 12 months.

The goal of a SaaS company is to give engineering, support, product operations and product management teams the ability to identify and, more importantly, fix quality issues that may impact customer satisfaction and retention.

Specifically, UnitQ says it identifies actionable insights in a variety of ways. For one, it collects user feedback from public sources like app reviews and social media, and private sources like support tickets, support chats, and surveys. It also does this through its own API, which links to other external data sources. At present, the company integrated Pulls insights and insights from 26 platforms and ingests data from anywhere along with user feedback.

With all of these data points, Viklund said, UnitQ then “automatically tags and analyzes” quality issues with the goal of giving “the most comprehensive and accurate view of product quality.”

The startup is mostly focused on consumer companies, but it also has a few B2B clients. Clients include Chime, Pandora, The RealReal, NerdWallet, Strava and AppLovin.

“Our goal is not only to enable them to move faster and manufacture higher quality products, we want to help them become a quality company,” Viklund told .

The premise behind the company is that these days, when so many consumer-facing industries are incredibly crowded, it can be hard to stand out.

“Product features are a little easier to replicate and copy, so most apps and products have a similar feature set,” he said. “It is also hard to compete with the price of facilities. Material is also becoming a commodity. But quality is something we all experience and one thing is that when we touch a product, we form our own opinion.”

And poor quality, Viklund says, can affect a company’s growth in many ways, such as reputation and speed of product development.

“That’s why we want to make sure that every conversion cycle inside the product is as accurate as possible,” he said.

image credit: UnitQ

The company says that its customers are able to increase the quality of their product by 20% in an average of 30 days. It also claims that its technology is capable of yielding more valuable insights than Net Promoter Score (NPS) – a tool used by many product teams that is mostly based on surveys that are sent out continuously by businesses. . Such scores, Viklund said, are more likely to capture positive sentiment and “represent a small fraction of users.”

current supporter crandum — an early-stage Swedish fund that also backed Shopify — and Google’s AI-focused venture fund, Gradient Ventures, also raised money in the round, which brings the startup’s total since its 2018 launch to $41 million .

According to Viklund, UnitQ plans to use its new capital to grow its engineering and go-to-market teams.

The idea for UnitQ was born out of the co-founding pair’s previous company, Scout. that Andreessen Horowitz-backed The social app had more than 50 million app installations before it was acquired by MeetMe for $28.5 million in cash and about 5.37 million common shares in 2016.

“During the decade we worked at Scout, we never lost sight of the user experience and our top priority was to make sure people were happy with our product,” recalls Viklund. “We would love to have access to a product like UnitQ.”

DI Reportage

Accel’s Andrew Brascia and Ben Fletcher, who worked on the deal, believe in the fact that the founding team is repeat founders Those who deeply understand the problem they are solving have a great advantage.

“Customer feedback was over-the-top positive. Spotify, CornerShop, Pinterest, Whoop, and Strava are all outraged that UnitQ ingests all of its data not only from App Store reviews, internal support tickets, and social media feedback, Rather they correlate this data so that it gives them the highest value bug and bug fixes for their products, something they can’t find anywhere else,” Fletcher told .

He also believes that UnitQ is creating a category for collecting user feedback and then associating it with product and engineering teams.

“Similar to PagerDuty for incident management and Datadog for performance overview; UnitQ is building a new category around product quality and quality scores and indicators for its end customers; we think it’s really, really big.” Will,” Braccia said. “Teams are citing that churn is decreasing, revenue is up, and engineering teams are shipping faster for the things that really matter to their products as they work with UnitQ.” getting it from.”

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