Alexis Kestler
Hello friend! As a fellow data geek, I wanted to share some fascinating updates on two of the most exciting and rapidly growing software companies right now – Sourcetable and EvaluAgent.
In the world of business software, these two startups stand out for developing innovative solutions that help companies better leverage data and optimize two critical areas: business intelligence and the customer experience.
Both companies recently announced new funding rounds totally millions of dollars. This influx of capital will allow them to advance their category-leading products and continue disrupting industries ripe for modernization.
Let‘s analyze what makes these companies so disruptive, the impressive growth they‘ve achieved, where the market opportunities are headed, and why their newly-funded future looks so bright.
Sourcetable Modernizes Spreadsheets for the Age of Big Data
First up is Sourcetable, which just raised $3M in seed funding to fuel its next phase of growth. This news comes right after a $1.25M pre-seed round, bringing total funds raised to $4.25M.
But what exactly does Sourcetable do? In essence, they are bringing the humble spreadsheet into the 21st century by connecting it to today‘s data systems.
As a fellow data analyst, I can appreciate how brilliant yet surprisingly underutilized spreadsheets remain across many companies and teams. Spreadsheets sit at the core of how most businesses operate – as central hubs for calculations, reporting, and data-driven decisions.
Yet while data volumes and sources have exploded, spreadsheet functionality has remained stagnant for decades. Most can only handle manual data entry or simplistic imports.
Sourcetable finally bridges this gap by syncing spreadsheets to live databases, apps, and BI tools. You can query data using SQL without coding skills. Spreadsheets update dynamically as the source data changes.
According to Sourcetable CEO Ben Schaechterle:
"We see an opportunity to unlock spreadsheets‘ potential value by connecting them to critical business data."
As an analyst who regularly creates spreadsheets, this excites me. No more manual aggregation from multiple sources! With Sourcetable, I could build interactive dashboards and reports fueled by live data.
Plus, it facilitates smoother data sharing and collaboration across teams. Sourcetable offers controls over permissions so analysts like myself can curate what different departments access.
For organizations with limited analytics staff, easy access to business intelligence capabilities could be a game-changer.
In fact, the global business intelligence software market is projected to grow from $24 billion in 2021 to over $33 billion by 2026 at a CAGR of 7%.
Table 1: Global Business Intelligence Software Market Projections
| Year | Market Size | Growth |
|---|---|---|
| 2021 | $24 billion | |
| 2022 | $26 billion | +8.3% |
| 2023 | $28 billion | +7.7% |
| 2024 | $30 billion | +7.1% |
| 2025 | $32 billion | +6.7% |
| 2026 | $33 billion | +3.1% |
Sourcetable is tapping into massive demand for easier access to data-driven insights without IT bottlenecks. Its elegant solution lets any user leverage BI with just spreadsheet skills.
As an industry expert, I‘m bullish on Sourcetable‘s potential. Its $4.25M in early funding is a smart investment.
EvaluAgent Uses AI to Optimize Call Center QA
Meanwhile, EvaluAgent recently raised $20M in Series A funding, led by PeakSpan Capital. This brings total funding to $23.5M.
EvaluAgent develops AI-powered software specifically designed for call center quality assurance (QA). It allows companies to score customer interactions across channels and provide coaching to agents.
Call centers remain crucial customer touchpoints, yet labor intensive to manage. EvaluAgent aims to optimize QA so agents deliver consistent, high-quality experiences.
Key capabilities include:
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Scoring algorithms to rate interactions based on custom criteria
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Tools to quickly identifiy areas for agent improvement
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Coaching workflows and best practices
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Motivational features like leaderboards to engage staff
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Analytics dashboards with QA and agent performance stats
According to CEO Pete Stebbins:
“This investment fuels EvaluAgent’s mission to equip businesses with the tools they need to efficiently measure CX quality and develop high-performing agents.”
Call center QA is a $300M market growing over 20% annually. Leaders include startups like EvaluAgent and established players like Verint and NICE.
EvaluAgent differentiates itself through its focus on enhancing the QA reviewer role. Its AI models learn from human evaluations, rather than solely monitoring metrics like talk time.
This allows for more nuanced, qualitative assessments aligned to company values versus rigid script adherence. Combined with coaching tools, it empowers agents to improve.
As someone who has done call center work, I appreciate EvaluAgent‘s agent-focused approach. Treating agents as partners versus problems to control creates a positive culture that customers feel.
With marquee customers like MetLife, Nestle, and Blackstone, EvaluAgent is clearly resonating. Its revenue has increased 500% over three years.
The new funding will further product innovation and go-to-market efforts. EvaluAgent seems poised for continued high growth.
Modernizing Business Intelligence and Customer Experiences
Sourcetable and EvaluAgent operate in different sectors, yet share a common thread – leveraging technology to help companies optimize critical workflows.
Sourcetable untaps spreadsheets‘ latent potential in the age of proliferating data sources. EvaluAgent applies AI and analytics to improve customer interactions.
Both are purpose-built for end users, designed by experts who identified overlooked pain points. Their impressive early traction shows the massive demand.
These companies represent shining examples of how creative software startups can stillrevolutionize business practices. Expect leading organizations to continue adopting these next-gen solutions.
The future looks bright for Sourcetable and EvaluAgent. I‘ll be excited to see how their freshly infused millions empower them to further disrupt industries ripe for innovation!
What innovative startups in the BI or CX space are you watching? I welcome your perspectives as a fellow tech insider. Please share your thoughts!
