Avid Ratings announced Tuesday it has closed on $6 million in new funding from Madison, Wisconsin-based venture capital firm 4490 Ventures and Detroit-based growth capital investment firm Beringea.
The funding will help the company expand its workforce to bolster capabilities that will support builders nationwide with customer experience tools and technology.
“We are excited to share the news of our ongoing growth at Avid Ratings,” said Paul Cardis, founder and chief executive officer at Avid Ratings. “This new investment will help Avid become the leading resource for measuring building quality and maximizing home buyer satisfaction across North America.”
The funding allows the company to expand its workforce by up to 100 people in the next two years. Hiring will take place through 2020 to further build out all departments in the company, including product development, sales, customer success, and marketing.
In particular, the company plans to enhance and redesign its customer survey platform to allow builders new and innovative ways to capture customer experiences (CX).
“The addition of these new capabilities will help builders be more competitive by responding faster and smarter to customer feedback,” said Aaron Everson, president at Avid Ratings. “We anticipate many new customers with the improvements and expansion of our AvidCX suite of customer experience tools. We look forward to the continued support of over 1,000 builder divisions across North America who already know how our products have boosted customer loyalty and increased closing rates for their sales teams.”
