(WEB HOST INDUSTRY REVIEW) — Online reputation management tools developer RatePoint (www.ratepoint.com) announced on Friday that it has closed a $7 million series c round of funding, co-led by Massachusetts companies Prism VentureWorks, 406 Ventures and Castile Ventures.
RatePoint says its offering enables small businesses to participate in the online review process, offering them an opportunity to respond to negative feedback before it is posted online. The RatePoint tool verifies customer reviews for authenticity, and provides small businesses with a range of tools for managing reviews, including options for distributing via social media.
“Today, online customer reviews and feedback are critical for anyone in business and business owners must be proactive about managing their reputation,” says Neal Creighton, co-founder and CEO of RatePoint, quoted in the press release. “Rather than follow the same one-sided model that provides no voice for small businesses, we took a new approach to online feedback. Through RatePoint, small businesses can dialogue with their customers to improve customer service and grow their business.”
RatePoint has a reseller program with which it targets hosting providers specifically, enabling them to distribute the company’s reputation management tools to businesses that operate online – generally all of them customers of a hosting provider.
The company was founded by Creighton, the former head of SSL certification authority GeoTrust, along with several other veterans of that company, which distributed its products extensively through a channel of hosting providers.
The new round of funding makes it a total of $23.5 million raised by the company since it was launched.
Jim Counihan, a partner at Prism VentureWorks says the company looks to invest in companies that “bring a truly unique approach to the market,” adding that RatePoint has succeeded in that regard. He says the company is confident that RatePoint will continue to grow rapidly.
About Liam Eagle
Liam Eagle has worked as a contributor to the Web Host Industry Review since its inception in 2000, and as editor since 2003. He has been editor of the WHIR's print magazine since its launch. His daily involvement in the gathering and reporting of Web hosting news and his regular interaction with Web hosting leaders gives him an uncommonly broad appreciation of the issues and tends facing the business. Through his WHIR blog, Liam spots Web hosting trends and offers opinions on the industry-wide impacts of major developments and the motivation behind big announcements. Follow him on Twitter @liameagle
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