Parature Co-founder and Chairman Duke Chung wants to be a detective when he grows up, but this is not to be ….
Five college students converge in a dorm room at Cornell University in Ithaca, New York, to think of ways to fill some of the voids in online, on-demand customer support for mid-market and small to medium-sized businesses. They create a live chat software product called Cyracle.
A newly-founded Cyracle Technologies, Inc. moves to Herndon, Virginia, and secures angel investment funding from Ching-Ho Fung, the first angel behind Blackboard Inc. The company begins to add additional applications to its product offering, creating an integrated customer service solution suite.
Cyracle Technologies, Inc. officially launches their customer service software product.
The company changes its name from Cyracle to Parature, which is a portmanteau of “Paradigm of the Future,” and moves its offices to Reston, Virginia.
Parature now provides services to more than 300 subscription customers. The company secures $13.5 million in Series A venture capital in 2006 from Valhalla Partners and Sierra Ventures. Parature relocates to Vienna, Virginia, and opens an office in San Francisco, California.
Webex signs a distribution agreement to resell Parature’s support products and services to their customers.
Parature secures a $16 million expansion round from Accel Partners.
Parature enabled customer support portals serve more than 16 million end users and power more than one million support tickets per month.
Parature develops “Parature for Facebook™”, the industry’s first customer service application for directly engaging with customers, prospects and fans on Facebook.
Parature relocates its headquarters to Herndon, Virginia, and now serves more than 35 million end users globally. Parature continues to set itself apart from other SaaS CRM and social CRM providers with its strong commitment to its customers and customer-driven innovation.
Parature continues to make history with more than 55 million end users, 3,000 brands, 33 languages and 45 countries supported. The company is named to the Deloitte Technology Fast 500 and is among the Inc. 500 | 5000 for the sixth straight year.
Parature introduces Parature for Mobile, the Parature Social Monitor and now serves more than 70 million end users worldwide. Awards and recognitions include the Gartner Magic Quadrant for the CRM Customer Engagement Center, the Frost & Sullivan North American Customer Value Enhancement Award, being named a 2013 CRM Watchlist winner, 2013 CRM Magazine Service Leader for Customer Case Management, two-time 2013 Stevie Award winner for Customer Service Solutions Technology Partner of the Year and Best New Customer Service Relationship Management Solution (Parature Social Monitor), and a 2013 TMC CRM Excellence Award winner.
Parature is acquired by Microsoft and begins a new chapter of success, and along with Microsoft Dynamics CRM, of delivering amazing customer experiences.
“We’re all about having conversations with customers. The ability for CSRs to stay conversant with a customer from beginning to end is huge, and the Facebook application swayed us toward Parature.”
— Brianne Hattaway, Director of Customer Support, Threadless.com