The success of a product is greatly influenced by its quality of the product. Even if your product seems incredibly cool, many users will quit using it if it’s glitchy or doesn’t work correctly rather than spending the time to figure it out or even report a problem.
To address this issue, UnitQ, a firm based in Burlingame, California, has raised $30 million in a Series B funding round sponsored by Accel. The unit uses a data-driven approach to product quality. According to Christian Wiklund, co-founder and CEO of units, the company essentially employs artificial intelligence to assist businesses in identifying the specific factors that are now affecting product quality.Despite his refusal to provide valuation or specific revenue data, the CEO claims that the unit has also been tripling ARR every twelve months.
The objective of the SaaS company is to empower the product management, engineering, support, and product operations teams to recognise and, more significantly, address quality issues that may be affecting customer satisfaction and retention.Uniti claims that it can identify actionable insights in many ways. For starters, it collects user feedback from public and private sources, including help tickets, support chats, surveys, and public sources like app reviews and social media. Additionally, it does this by connecting to various external data sources via its API. The company currently integrates with 26 platforms, extracts insights from those platforms, and ingests data from any place there is user feedback.
Uniti, a startup headquartered in Burlingame, California, has raised $30 million in a Series B fundraising round headed by Accel. The company uses data to identify product faults and enhance functionality. Christian Wiklund, co-founder and CEO of UnitQ claims that the company tracks every aspect of product quality using data analysis and machine learning technologies. Simply put, it enables businesses to identify the precise factors that influence the quality of their products at any given time.
The idea behind the business is that it might be challenging to stand out in today’s highly crowded consumer-facing sectors.
The majority of applications and products have a similar feature set because product features are “a little too easy to imitate and copy,” according to him. “It’s challenging to compete on features pricing as well. The content itself is evolving into a commodity. However, quality is the only thing that each of us experiences, and it is the only thing that influences how we feel about a product.
And according to Wiklund, poor quality can hurt a company’s growth in various ways, including reputation and the rate of product development.
According to the business, consumers can improve their product quality by 20% on average over 30 days. It also boasts that its technology can extract more valuable insights than Net Promoter Scores (NPS). Product teams frequently utilise this measure based on surveys proactively distributed by enterprises. Such scores, according to Wiklund, “represent a minuscule fraction of users” and are more likely to capture positive attitudes.
Gradient Ventures, Google’s AI-focused venture fund, and Creandum, an early-stage Swedish firm that previously supported Shopify, contributed to the round, bringing the startup’s total funding raised since its 2018 launch to $41 million.
According to Wiklund, UnitQ intends to use its new funding to expand its engineering and go-to-market teams.
UnitQ was inspired by the co-founding partners’ prior business, Skout. Before MeetMe purchased the Andreessen Horowitz-backed social platform in 2016 for $28.5 million in cash and around 5.37 million common shares, it had more than 50 million downloads.
“We never lost sight of the user experience during the decade we worked on Skout, and our primary focus was ensuring customers were satisfied with our product,” Wiklund reflects. We wished we could have used a product like unitQ.
UnitQ asserts to gather pertinent data from various sources. It collects user comments and more through its API, which connects to 26 other sites. These platforms comprise customer service websites like Zendesk, SurveyMonkey, and others, as well as social networking tools like Twitter or Facebook reviews, support tickets, and chat messaging.