I’m proud to announce that Trustpilot has received € 10 million in venture capital. Index Ventures and our existing investors, Northzone and SEED Capital have invested in our business and concept. Here’s what the investment will mean for companies and consumers.
Today is not just a big day for Trustpilot – consumers and companies focusing on customer service should celebrate as well. The € 10 million capital injection from Index Ventures, Northzone and SEED Capital is a major acknowledgement to Trustpilot’s business and concept. At the same time, it’s a big step towards becoming the global standard in customer reviews.
The money must be put to work in order to make Trustpilot even more useful for consumers and companies. The plan is ready and you will benefit from the investment in three ways:
Trustpilot is a unique review platform in the sense that our active community is the turning point. Millions of consumers all over Europe turn to shared shopping experiences when choosing providers. A lot of them also choose to write reviews after they have shopped. When that happens, it’s because consumers have trust in Trustpilot and the company evaluations match the experience they will get afterwards. It’s precisely that trust which has allowed Trustpilot to reach its current level of success, and it may be even more important going forward. That’s why we will invest in building up Trustpilot in a way that makes the review platform even more trustworthy and useful.
A part of the investment is dedicated to improving the technology. We will continuously work on scaling our systems for future growth. In addition, we will invest in making Trustpilot even easier to use for the many companies that use Trustpilot for collecting and sharing reviews. We are going to focus on improved and user-friendly self-service, so companies can get the most of the product and use new features whenever they want to.
Today, Trustpilot employs more than 100 people from more than 20 different nationalities. In a year from now, we will probably be twice as many. We are currently present in 18 countries, but our ambitions do not end there. Backed by our investors, we can reach out to even more markets. Naturally, that’s a benefit for companies with multinational activities. But, as more people get to know about Trustpilot, it will have a positive impact on overall trust, when consumers read reviews.
This is what the master plan looks like, and I’m confident that an exciting journey is awaiting. Perhaps you want or know somebody who wants to go on that journey with us? Right now, we have several open positions at our headquarters in central Copenhagen.
Updated Dec. 13th 2012:
The investment is covered by media around the world. Here’s some selected articles: