truRating offers a SaaS feedback system that collects one-question ratings from customers at the point of payment via the payment terminal, using a 0–9 scale and delivering responses in real time. The product enforces a single question per transaction to avoid delaying payments and reports a claimed 9-in-10 opt-in response rate. Its platform combines standardized truRating questions with custom retailer questions to build a consistent ratings data set. The company plans to make some of that ratings data available online to create an alternative consumer recommendations site to rivals like Yelp and Tripadvisor. truRating is live in the UK and Australia, has generated about two million ratings from roughly 200 live outlets, and counts customers such as Ping Pong, Franco Manca and Arco, with pilots underway at larger brands. The new funding will be used to build out its consumer ratings platform and to ramp up global expansion, including a planned North American launch later in the year.

Total raised

$13M

Funding rounds

1

Latest round

Series A

Latest activity

Aug 2016