TrustYou, a major player in social media monitoring and semantic technologies for the online reviews and social commerce space, has secured a $5 million Series A round and has also acquired Dallas-based competitor, ReviewAnalyst.
Officials with TrustYou said that the round, led by Credit Agricole Private Equity, is expected to expand worldwide operations and bring its advanced sentiment search platform for the hotel, restaurant and travel industries to the United States.
Company officials said that the acquisition of ReviewAnalyst brings the total number of customers on the TrustYou platform to over 6,000 globally, including Omni Hotels & Resorts.
"Social media is very important to us as an engagement platform with guests, which also enables us to find out how they feel and what they are saying about us, influencing our brand and our revenues," said Kerry Kennedy, vice president of E-commerce for Omni Hotels & Resorts, in a statement.
"We need a robust review tool that provides us with knowledge of what our guests are saying about our brand and our competitors. The new combination of TrustYou and ReviewAnalyst gives us these insights in a single snapshot.”
Businesses using the API reach more than 5 million consumers monthly with review summaries and the TrustYou Global Review Score.
"As a profitable company, with millions of consumers and thousands of hospitality industry customers leveraging our data daily, the acquisition of our a long-term partner and U.S. market leader aggressively changes the social commerce landscape." explained Benjamin Jost, CEO and co-founder of TrustYou. "We saw a clear gap in the market where both consumers and businesses were losing faith in reviews and ratings. With TrustYou data we take the inaccuracy and guesswork out of online reviews and bring them to a level that everyone can trust.”