For its customer satisfaction terminals, HappyOrNot notched $25 million in funding that is said to be used to keep building its customer base and technology. The company produces hardware to record if customers are satisfied by allowing them to tap a face and software to analyze the data, according to reports.
The series A funding brings the total taken in by the Finnish company to $40 million and is led by Verdane along with the participation of previous investor Northzone. (The valuation was reportedly not disclosed.) Reports noted that when the company last notched funding of $14.5 million in 2017, the company had 3,000 customers.
In the present day, it has a list of 4,000-strong spread through 135 nations encompassing the likes of Heathrow Airport, the San Francisco 49ers and McDonald’s. The company has record 1.3 billion feedback responses to date, which includes a plethora of customer sentiment such as basic replies — such as “Yes, I’m happy” or “No, I’m not happy” — to explanations when it comes to interactive tablets.
CEO and Co-Founder Heikki Vaananen helped started the company after he encountered a bad experience at a merchant when he couldn’t find someone to help him with his questions. He later told coworker and friend Ville Levaniem about the situation. Levaniem, in turn, then began to determine if anything such as a measurement firm that looked to assess that kind of sentiment was in existence. There wasn’t, so they decided to create the startup.
When it comes to banking use cases for the company’s technology, Northeast Credit Union (NECU) upgraded its HappyOrNot member satisfaction terminals at 20 branch locations. The new terminals were intended to allow members to provide feedback to officials at NECU per past reports. They are also intended to share their wait times, the level of employee professionalism and any loan rates, among other data, in near real time.