Madison-based Avid Ratings, a company making software for the real estate industry, has raised a new round of funding to help it hire 100 people over the next two years.
The tech company announced Tuesday that it raised $6 million in a Series A funding round from Madison-based venture capital firm 4490 Ventures and Detroit-based Beringea.
Avid Ratings’s software helps residential construction companies build better customer experiences through a platform that collects consumer data and feedback. Originally founded in 1992, the tech company says it now has more than 2,000 clients.
“This new investment will help Avid become the leading resource for measuring building quality and maximizing homebuyer satisfaction across North America," said Avid Ratings Founder and CEO Paul Cardis in a statement.
The funding will allow Avid Ratings to hire up to 100 people across all the company’s departments, including product development, sales, customer success and marketing. Avid Ratings will also use the new capital to redesign and enhance its customer survey platform.
“The addition of these new capabilities will help builders be more competitive by responding faster and smarter to customer feedback,” said Avid Ratings President Aaron Everson, who just joined the company in August. “We anticipate many new customers with the improvements and expansion of our AvidCX suite of customer experience tools.”
