Swell Closes $2.5 Million Seed Round to Meet Demands of 400% Growth Spike
COTTONWOOD HEIGHTS, Utah, January 14, 2020 (Newswire.com) - Swell, provider of an automated growth platform for local and regional businesses, just announced the closing of a $2.5M seed round led by Cultivation Capital. Additional investors in the round include Mark Newman, serial entrepreneur and founder of Nomi Health and HireVue, along with Paul Brown, a long-time venture capitalist and Professor of Entrepreneurship at the University of Utah.
The round comes at a critical stage for Swell as organic growth exceeds 400% year over year. Swell plans to expand into additional verticals following the company’s overwhelming success in the dental marketplace.
“The market demand is growing quickly, and we want to pour gas on the fire. This round gives us the resources we need to scale and further establish ourselves as a leader in the space,” says Drew Sparks, Co-founder and CEO of Swell.
Swell launched in 2017 to help brick-and-mortar businesses improve their online reputation and rankings by offering simple ways to solicit feedback and generate reviews from customers. Since then, they’ve evolved into an automated growth platform offering a lightweight CRM, marketing automation tools, and a customer communication portal to help businesses understand, acquire, and retain customers.
“We want to be the best at what we do for our users,” said Zeke Kuch, Co-founder and CRO for Swell. “It says something when our customers have tried two or three other options and then fall in love with our tools right away. We have a lot of demand because our platform helps businesses see real growth. In the end, that’s what matters most to our customers,” he says.
At the heart of Swell’s growth is a vision focused on helping users share the value of their brand experience through the most powerful channel available—their own customers. To date, Swell has helped over 1,700 dental practices expand their business and better engage their patients. Outside of the dental industry, the company also serves customers in healthcare, service, and retail verticals.
“Swell makes it easy for a business to promote the quality of their customer service,” says John True, General Partner at Cultivation Capital. “We’ve seen the positive impact Swell has on local businesses by increasing new customer/patient velocity through state-of-the-art digital reviews."
On average, Swell users increase customer reviews over 300% in the first year. This feedback informs business owners to deliver and maintain a best in class star rating for their business.
Swell is an automated growth platform that helps businesses find new customers and turn their feedback into reviews, referrals, and a booming bottom line. It helps businesses get discovered in local searches, learn from customer feedback, and enhance their reputation through true customer sentiment. www.swellcx.com
Categories: Venture Funding