Medallia, the global leader in experience management, announced it has entered into a definitive agreement to acquire Stella Connect, the real-time feedback, coaching and quality management platform for customer service teams.
Stella Connect plays a significant role in optimizing efficiencies and increasing employee engagement as contact centres shift to effective virtual working environments. Brands that range from disruptive startups to billion-dollar public companies, including ESPN, Lemonade, Lululemon, Postmates, Riot Games and Williams Sonoma, rely on Stella Connect today to provide feedback coaching, rewards and recognition, and quality assurance for all customer interactions including phone, digital, and chat.
Stella Connect drives substantial return on investment by automating the process of coaching interactions in the contact centre, increasing focus on customer experience resulting in higher customer retention and cross-sell. With contact centre volumes at an all-time high and a large portion of the agent population working virtually, it is more important than ever for brands to harness agent-level customer feedback and deliver high impact coaching programs that engage frontline agents.
“At Stella Connect, we believe that customer service agents are vital, high value professionals who can provide great customer experiences. With Medallia, we will be able to connect agent coaching to feedback and accelerate our vision to play bigger and faster than we could have ever imagined,” said Jordy Leiser, co-founder and chief executive officer of Stella Connect. “Bringing our solutions together will create an incredibly exciting and comprehensive platform to transform the old economy contact centres to the virtual customer service teams they aspire to become.”
“Combining Stella Connect with Medallia Experience Cloud and Medallia’s new Speech technology creates the work from anywhere contact centre. Increased automation of contact centre workflow lets agents focus on higher value, higher priority interactions addressing industry wide high staff turnover,” said Leslie Stretch, president and chief executive officer of Medallia. ”With Stella and Medallia we can turn contact centres into virtual service centres by connecting feedback to coaching action in live time.”
Under the terms of the agreement, Medallia will acquire Stella Connect for approximately $100 million in cash, subject to certain adjustments as set forth in the definitive agreement. The acquisition is expected to close this September, subject to customary closing conditions.
About Medallia
Medallia (NYSE: MDLA) is the pioneer and market leader in Experience Management. Medallia’s award-winning SaaS platform, the Medallia Experience Cloud, leads the market in the understanding and management of experience for customers, employees and citizens. Medallia captures experience signals created on daily journeys in person, on calls and digital channels, over video and social media and IoT interactions and applies proprietary AI technology to reveal personalised and predictive insights that can drive action with tremendous business results. Using Medallia Experience Cloud, customers can reduce churn, turn detractors into promoters and buyers, create in-the-moment cross-sell and up-sell opportunities and drive revenue-impacting business decisions, providing clear and potent returns on investment.
Visit www.medallia.com
About Stella Connect
Stella Connect focuses on unlocking the potential of millions of frontline people to better serve and connect with their customers. Our solutions serve to inspire and help teams create great customer experiences. Stella Connect is the first platform that connects QA with customer feedback and coaching, giving CX leaders insight into contact centre performance and, ultimately, customer satisfaction. Stella Connect is headquartered in New York City.
For more information, visit www.stellaconnect.com.