Netigate acquires Lumoa to better harness the power of feedback
Last updated on March 26, 2024
Netigate and Lumoa join forces giving birth to a new leading European experience management solution.
Today, Netigate, a European leader in experience management solutions, announced the acquisition of Lumoa, the first customer experience platform to offer Generative AI technology. This strategic move unites two leading European innovators who are committed to bringing the voices of customers and employees to the core of business decision-making. With a combined portfolio of more than 1,500 customers, ranging from companies like Santander and Circle K to Credit Euro Bank, and Spotify, the organisation now provides services from its combined offices across Europe.
Every day, companies are collecting multi-channel feedback that could be better utilized with deeper qualitative analysis. Both Netigate and Lumoa realised that to solve this challenge, collection methods must be combined with the best analysis to provide a true understanding of the feedback giver’s state of mind. Then this information needs to be shared in a way that provides individuals or whole organizations with real-time access to support meaningful actions and decisions.
“This acquisition is a fantastic step towards realising our mission to inspire actions through authentic understanding of people” said Mikkel Drucker, CEO of Netigate. “By bringing together Lumoa’s AI and CX knowledge with Netigate’s advanced feedback management solutions, we are setting a new standard for how companies all across Europe can leverage customer and employee feedback to build sustainable growth and happiness.”
Together, Netigate and Lumoa are uniquely positioned to offer companies the most advanced technology – including Generative AI tools that make customers’ and employees’ voices heard – while at the same time complying with European laws on data usage and processing.
“Joining forces with Netigate accelerates our mission to empower every employee to make the right decision based on the voice of their customers,” said Carlos Del Corral, CEO of Lumoa. “Together, we can now broaden the focus from customer experience to total experience while also leading the way in data security and privacy committing to all European regulations and guaranteeing your data will not be transferred or processed outside of the European Union.”
In 2022, Netigate received a major strategic investment from GRO Capital, the leading North European (private equity) fund with a focus on B2B software. Their research estimates that the market for EX and CX software will grow to over 10 billion USD in the EU by 2027.
“This partnership between Netigate and Lumoa is a great example of our investment philosophy of supporting companies that are poised for growth and ready to define the future of their industries,” remarked Lars Lunde, Partner at GRO Capital. “We are excited to see how the combined platform will change experience management in Europe and beyond.”
About Netigate:
Netigate is an international SaaS company offering a comprehensive experience management solution for organisations who seek to have an in-depth understanding of their employees and customers. Netigate strives to empower employee and customer experience professionals to reveal the human perspective behind the numbers, in order to drive business growth and decrease churn.
The company combines powerful AI and machine learning technologies with a large team of in-house insight consultants to help customers extract actionable insights from their data and make a tangible difference.
Founded in 2005, the organisation has 1500+ subscribing customers globally. Netigate is over 150 employees strong, headquartered in Stockholm, with regional offices in Berlin, Frankfurt, Warsaw and Oslo. Since 2022, the private equity fund GRO Capital has been the majority shareholder of the company.
About Lumoa:
Lumoa, headquartered in Helsinki, is at the forefront of customer experience management, having become the first CX platform to offer Generative AI solutions. Founded in 2016 and backed by Icebreaker, Lumoa helps customers in more than 20 countries, empowering their employees to make the right decision based on the voice of their customers. Last year, 74 million customer voices were analysed using the Lumoa platform.