Lumoa raises €650 000 seed funding to take AI-powered customer experience analytics to the new markets

Finnish SaaS company Lumoa, which provides AI-powered customer experience analytics software for medium and large sized companies across the Nordics, has announced €650 000 in funding. The investment was led by Icebreaker.vc, along with serial entrepreneur Ali Omar and Business Finland.

Lumoa, headquartered in Helsinki, Finland, offers a simple and intuitive service for analyzing large amounts of customer feedback. Its machine learning powered service makes customer feedback actionable and allows companies to easily pick, in real time, the right improvement actions that have strongest impact on the customer experience. Leading companies in healthcare, telecommunications and banking across Nordics already benefit from real time Net Promoter Score (NPS) analytics that can handle feedback in all major languages.

“Lumoa brings together multiple customer feedback sources and combines them utilizing NLP (natural language processing) and AI to give the best and most comprehensive direct guidance to the business users on how to improve single points of customer journey. This is a very exciting combination of technologies in a growing market”, says Aleksi Partanen, partner at Icebreaker.vc.

Ali Omar, growth-entrepreneur and investor, who has led companies from 0 to €100M revenue, comments that “Lumoa is special because it connects customer feedback to actionable insights, bridging the gap between a company and its customers. The team is very strong in their ability to execute the unique product to B2B market and is able to create a world-class solution for industry leaders.”

“The global customer journey analytics market size will reach $12.22 billion by 2022 growing from $4.76 billion in 2017 at a compound annual growth rate of 20.8%. This growth is driven by the need for providing consistent customer experience throughout the customer journey, reducing churn rate of customers and a rising need for competitive differentiation,” adds Partanen.

“We founded Lumoa to help companies to create better customer experiences. Currently Lumoa is growing 20% every month. I am extremely happy about the next growth stage we are now entering.”, says Johanna Sinkkonen, Lumoa’s co-founder and CEO.

For a comment, please get in touch:

Johanna Sinkkonen, CEO, Lumoa

+358 50 486 0598, [email protected]

Aleksi Partanen, Partner, Icebreaker.vc

+358 40 585 9392, [email protected]

About Lumoa

Lumoa provides a simple customer experience analytics solution for medium and large enterprises across the Nordics. Headquartered in Helsinki, Finland, Lumoa was founded in 2016. In 2017 more than 1,500,000 customer feedback responses were analysed using Lumoa. www.lumoa.me

About Icebreaker.vc

Icebreaker.vc is a venture capital fund and a community that support companies’ success stories by investing in them and leveraging the support of their community. Icebreaker aims to act as a catalyst for early-stage startup scene in Finland. www.icebreaker.vc