Accenture Technology Ventures Makes Equity Investment in Vividence
NEW YORK and SAN MATEO, Calif. - January 17, 2001 – Accenture and Vividence Corporation, the leader in Customer Experience Management (CEM) products and services, today announced an alliance aimed at helping businesses better understand and respond to customers’ expectations and experiences online.
Under the alliance, the two organizations will jointly market Vividence Customer Experience Evaluations to retailers as well as other industry businesses that serve consumers via the Web. As mutually preferred providers, the organizations will offer businesses innovative technology to better understand and improve the customer experience.
Further, Accenture Technology Ventures, the venture capital unit of Accenture, has taken an equity stake in Vividence.
The alliance combines Accenture’s industry knowledge and experience with Vividence’s leadership in aggregating qualitative and quantitative customer feedback through its portfolio of CEM products and services.
"With an increasing number of consumers coming online each day, businesses in the retail sector are demanding technology solutions that offer direct insight into the hearts and minds of their customers," said Martin Hodgett, partner, Accenture retail practice. "Fueled by Vividence’s proprietary technology and unique customer perspective, Accenture will be able to provide our global retail clients with innovative, customer-centric products that drive customer satisfaction, retention and lifetime value."
As part of the alliance, Accenture and Vividence will jointly develop, market and implement initiatives designed to improve the overall customer experience for Accenture clients.
"Using Vividence’s CEM products and services, companies across a number of industries will have an opportunity to understand what each and every customer expects from their shopping experience," said Joel Friedman, general partner, Accenture Technology Ventures. "With a world-class management team and a powerful technology solution, we believe Vividence is positioned to set the standard in the CEM market."
"As the development of the Internet continues to revolutionize the way business is conducted, the need to understand and deliver an optimal customer experience continues to be a top priority for business leaders," said Artie Wu, Vividence CEO. "Accenture’s proven experience in customer-focused consulting and research, combined with Vividence’s best-in-class CEM products and services, will provide retailers with the mission-critical ingredients to dramatically improve their customers’ Web experience."
About Vividence Corporation
Vividence is the leader in Customer Experience Management products and services. We help industry-leading businesses quickly and thoroughly understand the behavior and improve the experience of their customers on the Web. Vividence enables our clients to increase customer retention, improve marketing strategies, enhance product development and deliver competitive intelligence. Vividence is backed by venture capitalists Kleiner Perkins Caufield amp; Byers, Sequoia Capital, Partech International and Angel Investors, L.P. Our clients include more than 150 leading businesses such as Cisco Systems, Compaq, eBay, Excite@Home, Fidelity, Hewlett-Packard, Microsoft, nordstrom.com, Pfizer, SAP and Wells Fargo.
About Accenture
Accenture is a $10 billion global management and technology consulting organization. The firm is reinventing itself to become the market maker, architect and builder of the new economy, bringing innovations to improve the way the world works and lives. More than 70,000 people in 46 countries deliver a wide range of specialized capabilities and solutions to clients across all industries. Under its strategy, the firm is building a network of businesses to meet the full range of client needs -- consulting, technology, outsourcing, alliances and venture capital. Accenture’s home page address is http://www.accenture.com.
About Accenture Technology Ventures
Accenture Technology Ventures helps talented entrepreneurs build great companies that can transform entire industries, create new markets and ultimately generate superior economic returns. Our portfolio includes more than 50 innovative companies that are building key components of tomorrow’s infrastructure and improving the way the world works and lives. Launched in December 1999, we plan to invest up to $1.5 billion globally over a five-year period. Accenture Technology Ventures is the venture capital unit of Accenture. Its home page address is http://www.accenturetechventures.com.