Berlin, 30. August 2017 – The Berlin-based company Expert Systems AG (ProvenExpert.com), a leading provider of referral marketing and trust services, has incorporated to ease the process of securing additional capital to support its remarkable rate of growth.
Following its conversion, the company was able to enter a new round of funding in partnership with a range of renowned investment angels, including the Covus Group, which has been financing successful platforms such as browsergames.de, theAdex, and the performance network crobo since 2003. Other A round investors include the founders of Rheingau Founders—Dr. Tobias Johann, Philipp Hartmann, Kai Hansen and Marius Weber—as well as Andy's Angels Holding GmbH (Andy Geldstein), Eberhard Lange, Jörg Rieker and Bellevue Holding GmbH.
Sven Lubek, founder and CEO of Covus Holding, on his new investment: "Customer recommendations are a decisive factor in purchases. We are certain we are investing in a sound and successful concept with ProvenExpert.com".
"We're pleased we've been able to bring such experienced investors on board. Not only are our investors providing capital, they're also bringing a wealth of business knowledge with them and an expansive support network", explained Remo Fyda, CEO of Expert Systems AG. "We hope to use this new round of funding to continue pushing into markets abroad and to strengthen our position with new marketing measures. We are currently converting more than 20% of free users to paying customers. The new capital will help is accelerate our already impressive growth rate."
Nine out of every ten consumers ask their friends for recommendations and check these against online reviews. This applies to products as well as services in all industries. Referral marketing is fast become a crucial factor in the success of brands—referrals have a cross-sector effect and are a more sustainable driver of new business than self-promotion. Moreover, the rewards for proactively collecting feedback from customers speak for themselves, with an average of 94 percent of customers responding positively, compared to a six percent negative feedback rate. "A growing number of Germany's four million companies are beginning to recognize the untapped potential of actively collecting feedback and leveraging this potential to push their businesses to new heights", said Fyda.
Expert Systems AG (ProvenExpert.com) is Germany's leading online platform for qualified customer feedback and review aggregation. The referral marketing platform offers targeted industry surveys that companies can customize and use in a matter of minutes to start collecting feedback from customers. The surveys provide detailed insight into the needs of customers and their satisfaction levels, as well as helping to uncover new business potential. The resulting feedback can be easily used for online marketing purposes with ProvenExpert's rating seal and profile and combined with customer reviews from Facebook, Google and other platforms. More than 22,000 freelancers, entrepreneurs and large companies use ProvenExpert.com's online surveys to collect customer feedback. As of 2017, the ProvenExpert platform is also available in English.
