FeedbackNow, the world leader in operational analytics for physical spaces, announced their Series A round. The round was led by Motivate VC, Uncorrelated Ventures, and AI Growth Capital Partners. The group purchased the company out of Forrester, the previous owner, as part of the round. Steve Peltzman, a former Forrester executive, will serve as the company’s CEO.
In addition to the new capital, the company is announcing the rollout of their new platform. This digital platform is able to ingest data from hundreds of sensors that measure real-time data and traffic through physical locations like stadiums, airports, hospitals, and convenience stores. By normalizing the data and building dashboards that correlate activity with customer satisfaction and spend, FeedbackNow’s new platform helps companies optimize labor costs, customer experience, and revenue. The platform provides alerts, analytics, and predictions for best actions so that companies can understand and optimize everything happening in their spaces.
Steve Peltzman, CEO, noted that “Most people know FeedbackNow for the buttons in airport bathrooms and security lines, but, over the past two years our expansion into convenience stores and hospitals has opened our eyes to the massive opportunity to optimize the platform for all types of data and many new use cases. The speed and simplicity with which we can integrate new sensors and correlate outcomes over a host of data types is a competitive advantage and the reason hundreds of customers have chosen FeedbackNow.”
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Healthcare has been the fastest growing segment for FeedbackNow, as hospitals seek to optimize labor efficiency amid an increasing labor shortage of nursing talent. “Montefiore is dedicated to providing exceptional care, compassion, and comfort to every patient. We believe that patient experience is a critical component of quality healthcare. Through our innovative partnership with FeedbackNow, we have been able to elevate experiences at a variety of patient, visitor, and staff touchpoints in real-time, including over 1,200 patient bedsides. We plan to explore new ways to use this technology to provide an even more exceptional experience,” said Tim Woodward, Associate Vice President of Environmental Services at Montefiore Health System.
“As AI is implemented in more areas of the economy, we believe real-time data is going to become a key asset for companies to integrate into these models, and FeedbackNow is the leader in real-time data for operations in physical spaces,” said Rob May, a Partner at AI Growth Capital. “The company has an innovative roadmap that aligns well with where we think AI is going and was a strong match to some of our key investing theses around AI, which prompted us to put together this deal.”
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