When early technologists first created the framework for the internet, few understood how vital it would be to build trust and stand out in an expansive sea of hundreds of thousands of businesses, all moving in unison to establish an online presence. Today’s entrepreneurs, in contrast, understand this problem so well that they've inadvertently set off an arms race for those coveted five-star reviews.
Trustpilot today announced it has raised $55 million in a Series E equity investment round. The round was led by Sunley House Capital Management, an affiliate of global private equity firm Advent International, with strong participation from existing shareholders Vitruvian Partners, Draper Esprit, Index Ventures, Northzone and Seed Capital. Funds will support Trustpilot’s strategy to be the leader in trust and transparency.
Bringing further transparency to the reviews industry, the feature provides consumers with a window into how often companies flag reviews and what happens to them once they’ve been investigated. The new feature is the first of its kind and is part of Trustpilot’s larger initiative to bring more openness and transparency to its platform and the review industry as a whole.
Trustpilot today announced the launch of Review Insights. Created to help businesses gain deeper and smarter intelligence from their customer feedback, Review Insights uses Artificial Intelligence and machine learning technologies allowing businesses to understand the nuances of customer feedback beyond any given star rating.
Trustpilot today announced its customer review solution was named the Silver winner in the Best in Biz Awards, the only independent business awards program judged each year by prominent editors and reporters in North America.
Trustpilot continues to provide a platform, open to all, where consumers and businesses can truly collaborate, allowing businesses to improve and innovate and creating ever-improving experiences for everyone.