It is no secret that Colorado Springs-based SaaS startup Quantum Metric is growing rapidly.
Earlier this year, the company landed at No. 124 on the annual Inc. 5000 list, reporting 2,945% growth over the last three years.
While the Covid-19 pandemic has slowed momentum for many, Quantum Metric has persevered and is now bringing on a large debt capital round to accelerate its growth.
The company announced this week that it has secured up to $25 million of debt capital from Silicon Valley Bank. With its initial Series A round led by Insight Partners in 2018 and the closing of this round, Quantum Metric has raised $50 million in capital in the last two years.
Quantum Metric is a SaaS platform that helps organizations build better digital products faster. Its technology helps businesses capture customer behaviors and technical issues and prioritize product decisions based on real-time data.
The company, which was founded in 2011, has a roster of customers that includes Neiman Marcus, Lenovo, Alaska Airlines, Lululemon and more.
Quantum Metric has emerged as a crucial platform for businesses looking to meet a surging digital demand from consumers during the pandemic. The company said it has doubled the amount of traffic and data it's synthesized this year, expanded its roster of enterprise clients and is growing its team.
The new funds will allow Quantum Metric to continue building out its product and customer support teams, expand its global presence and invest in new research and development initiatives.
The company currently has about 170 employees and hopes to grow that number to nearly 250 by the end of the year, a company spokesperson told Colorado Inno.
"The current demand for digital has never been greater and while this has been a challenging time for people everywhere, we're fortunate as a business to have grown very quickly. Brands are realizing the transformative impact of implementing continuous product design within their organizations,” CEO Mario Ciabarra said in a statement. “This facility from SVB allows us to execute on strategic opportunities to spread the message of CPD while retaining our value and growing the company amid this uncertain landscape."
At the beginning of October, Quantum Metrics landed a partnership with Dish to help the company build innovative new products driven by customer behaviors, intelligence and input.
Through this collaboration, Quantum Metric will help Dish analyze technical and behavioral indicators while creating optimized in-page analytics that allow the company to gauge the user perspective.
