Modria Closes New Investment Round to Fuel Expansion
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Modria today announced it has closed a $5 million dollar Series A investment round led by Foundry Group. As part of Modria’s expansion, J. Scott Carr has joined Modria as president and CEO. The Modria platform is the leading online dispute resolution system in the world, enabling businesses and government agencies of any size to resolve customer problems swiftly and fairly. Its proven, scalable cloud-based technology brings all parties involved in a dispute to the table quickly and efficiently, enabling them to arrive at an equitable solution that reduces cost and increases customer brand loyalty.
Colin Rule, co-founder of Modria, wrote the seminal book on online dispute resolution for business (Online Dispute Resolution for Business, published in 2003). He and the core Modria team built the only resolution system to operate at scale, resolving 60 million eBay and PayPal cases a year. In 2011, Rule spun-out of eBay to start Modria, building the next generation resolution platform to address customer issues for business and governments of all sizes. The creator of online dispute resolution, Ethan Katsh, serves as the Chair of Modria’s Board of Advisors.
“Companies like eBay have long known the importance of converting disputes into fair and swift outcomes as a means of growing their business. Now, businesses in other sectors, from insurance companies to healthcare and government agencies, are climbing on board,” said Colin Rule, COO and Chairman of the Board of Modria. “Foundry’s investment in Modria is further evidence of how important this space is. Bringing Scott Carr, a proven executive with a solid track record growing web companies, on board as our CEO ensures that we will grow the company quickly, responsibly and with extreme customer focus.”
Read original articleTags: Foundry Group, J. Scott Carr, Online Dispute Resolution, online dispute resolution system
