PORTFOLIO: RATE IT
Retail & E-commerce Enablement
Platform for real-time customer feedback and insights to improve customer experience and organisation-wide initiatives
Acquired numerous clients across Southeast Asia (SEA) and Australia e.g. 7-Eleven and UOB, within 18 months
US$2b in Asia Pacific serviceable addressable market across Australia,
New Zealand, Singapore and other SEA countries
Founded by Michael Momsen in 2016, RateIt offers a new and better way to listen to customers while they are “in the moment” across multiple channels (e.g., on-premise devices, phone messages, web and via delightful emails). It offers effortless insights that bring significant improvements to operations and organisation-wide initiatives, thanks to real-time signals in their unique customer experience data.
In the past 18 months, RateIt has shown tremendous traction with hundreds of clients across SEA, Australia and the UK. They have expanded their presence beyond Australia to SEA. Well over half of revenue now comes from SEA with a good mix of both large clients such as Lego and smaller companies like PS Cafe. In Australia, major clients include well-known brands such as Woolworths, Pandora and Mitre 10, while in SEA, Adidas and Fitness First have signed up as pan-regional clients.
The value that RateIt brings is its ability to transcend the limitations of traditional survey-based methods as these do not give companies the data needed to know what their customers think and feel on a granular, real-time basis, or respond to customer feedback, or provide an easy tool to build a customer-first mindset in their operations.
Prior to Tin Men’s investment, RateIt has secured prominent investors earlier on, including Wavemaker Partners, Koh Boon Hwee (a board director of Singapore’s GIC), Steve Melhuish (co-founder of PropertyGuru) and principals from firms such as Alto Partners and TPG. The fresh funding from Tin Men will be used to rev up its go-to-market capabilities across SEA, while deepening its operations and marketing in Singapore. The current growth and future potential of the SEA market has driven RateIt to move its headquarters to Singapore.
- Quick, easy and efficient way to gain in-the-moment customer feedback, and actionable insights based on collective intelligence, so as to increase NPS (Net Promoter Score) and CX (Customer Experience) score through operational and organisation-wide improvement
- A high level of data integrity as software is enhanced with state-of-the-art advanced biometrics, that prevents children and staff from skewing the data
- Plug-and-play rollout for easy implementation across myriad devices, text messages and emails
We see synergies between RateIt and Tin Men’s other portfolio companies, as well as immediate potential with their go-to-market partners across SEA.
(L-R): Michael Momsen (CEO) and Sam McConkey (COO), RateIt