Clozd – Delivering the Power of Why through Win/Loss Analysis

Just before I joined Qualtrics in 2017, The Economist magazine observed that “Google can see what people search for, Facebook what they share, [and] Amazon what they buy.” What made and continues to make Qualtrics such a unique and category-creating business is that it tells you how people feel about all of those experiences, and more. Qualtrics introduced the power of why, and companies everywhere continue to embrace that power to transform customer, employee, product, and brand experiences.

So, when John D’Agostino, my friend, former Qualtrics colleague, and one of the finest go-to-market executives I know, introduced me to Spencer Dent and Andrew Peterson, Qualtrics alums and co-founders of Clozd, I knew it was an unmissable meeting. Clozd is pioneering a new application category, win/loss analysis, by curating and scoring proprietary data sets on direct, customer feedback from structured interviews and automated surveys. Today they announced their Series A of $52 million – Madrona joined this round through our Acceleration Fund.

Much like Qualtrics created the experience management category by defining the distinction between operational data from transactional systems (i.e., what happened) and experience data (i.e., why it happened), Clozd is helping B2B customers understand the power of why they win or lose business. The Clozd platform powers insights for broad sets of user communities in an enterprise, including the C-Suite and Boards, marketing teams, product & engineering teams, and, of course, sales teams – basically anyone who wants to win more. We have seen over and over again when diverse groups in an enterprise have one source of truth rooted in data, decisions are made more quickly and the organization executes to plan more successfully.

Additionally, the data foundation Clozd is building has broad relevance to the landscape of Revenue Technology providers, including customer relationship management systems, sales methodology platforms, predictive revenue operations platforms, sales enablement, and competitive intelligence platforms. We are excited to see how this crucial win/loss data is incorporated into those platforms in the coming months and years.

My partners and I are thrilled to partner with Spencer, Andrew, and their whole team to help create the win/loss category and to power the why. Welcome to the Madrona family!