RatePoint secures $10 Million in Series B funding
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Needham: RatePoint, a provider of customer feedback and online reputation management services, has closed a $10 million series B round of funding led by Castile Ventures, with participation by existing investors .406 Ventures and Prism VentureWorks. RatePoint also announced that Nina Saberi, Managing General Partner of Castile Ventures, has joined the board of directors. "Clearly during this economic uncertainty, this funding round reaffirms the explosive growth in online reputation management and RatePoint as the catalyst," said Neal Creighton, cofounder and CEO of RatePoint. "Small businesses realize the need to proactively manage what's being said by customers about their products and services online, especially in a highly competitive marketplace." RatePoint's patent-pending platform allows businesses to manage their online reputation by easily capturing, managing, and promoting consumer reviews and feedback directly on their Web sites in language provided by the consumer. RatePoint verifies actual consumer reviews for authenticity, and provides businesses with the opportunity to respond to unsatisfied customers or negative feedback before it�s posted online. Additionally, the robust suite of tools offers e-mail marketing and surveys - plus a Web-based management interface - making it easy for businesses around the globe to connect with customers, increase sales, and improve consumer confidence. According to the Gartner Hype Cycle for Social Software report, Internet reputation management is an emerging market that will continue to gain momentum. The report, which named RatePoint as a solution delivering the critical component for monitoring reputation, states that companies need to engage in Internet reputation management and have a great deal to lose if they do not become more adept at managing their reputation. RatePoint was launched by the founders of GeoTrust and is backed by a previous $6.5 million Series A funding led by Prism VentureWorks in Needham, MA, and .406 Ventures of Boston.

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