The world of technology is growing in leaps and bounds. Companies that produce tech products must stay on their toes to keep up with the ever changing climate of the industry.
Feedback Loop and Language I/O are two companies who are on the pulse of tech consumer’s needs and demands. They have recently completed funding campaigns that will enable them to continue releasing products to maintain growth. Read on to find out about their future trajectories.
In today’s world of business, there is a real need for translating information so businesses are better able to communicate with consumers around the world. Many shoppers feel more comfortable making purchases on a web site that is written in their own language. They also prefer to deal with customer service agents that speak their native tongue.
Language I/O provides a platform that claims to offer more accurate and personalized translations. It searches for product names, acronyms, industry jargon, slang, and misspellings to translate as smoothly as possible. Customers assist in the process by telling the platform what words they want in their dictionary making for improvements as time goes by.
It also uses an unsupervised neural network called a self-organizing app to detect and flag words it does not comprehend before publishing them on the internet. A second model uses the data to identify potential glossary terms while integrating feedback that allows it to adjust and improve.
The platform currently focuses on channels like email, chat, articles and social messaging, but it is looking to expand beyond basic support to extend services wherever businesses require translation. This may include gamer to gamer chats, virtual meetings and learning management.
The company recently raised $5 million which will be devoted to customer acquisition and hiring new talent.
Feedback Loop is a necessary part of company growth. However, it can take a long time for companies to get the feedback they need and when it does come in, it tends to come at irregular intervals.
Feedback Loop offers a new approach making market research ongoing so it’s aligned with real time demands and poised to account for changing attitudes and opinions gleaned from continuous customer input.
The company launched as Alfa in 2014 but rebranded in 2021. It automates many of the stages involved in conducting research surveys. It can collect feedback on A/B testing carrying out comparisons between things like different marketing texts and slogans and product features and design.
The Feedback Loop platform eliminates error margins by automating the process of market research data collection. It does not require information to be recorded manually and it provides feedback in real time. This cuts down on mistakes as well as time lapses so companies are on the pulse of what their customers are looking for and can make updates as needed.
The agile research platform recently announced the closing of a $14 million funding campaign. They will be using the money to support their efforts in automating and democratizing consumer research.