14 Sep ContactEngine Raises £2m to Fund International Expansion
ContactEngine, the London-based customer conversation technology leader, announced today that it has successfully completed its second round of funding by raising £2 million through two major venture capital firms.
Amadeus Capital and Beringea will each invest £1 million into ContactEngine to fund its expansion into Europe and North and South America and its research and development of products delivering automated customer communications for global businesses.
Founded in 2009, ContactEngine’s ground-breaking solutions have attracted major clients, including Whirlpool, Virgin Media, Sky, Telecom Italia and British Gas. The company has already established a presence in Italy, Germany and Brazil and, with the new round of funding, will further develop its offering, reach and partnership network.
ContactEngine’s automated conversation technology improves customer experience and operational efficiency, at a lower cost point. ContactEngine is part of the digitisation of the customer journey, removing the need for manual outbound calling and helping to deflect inbound customer queries. A cloud-hosted service, ContactEngine conversations occur via the customer’s choice of channel, whether SMS, IP messaging, email or voice-calls.
Dr. Mark K. Smith, CEO and founder of ContactEngine, commented:
“During the past seven years, we have built a highly successful and profitable business which delivers unique services to clients. As consumer behaviour and communications become more complex and multi-faceted, we have a clear opportunity to project this success globally.”
“As we achieved profitability, we re-invested that profit back into the business. As a result, we have a proven and solid financial track record that is very attractive to both investors and our client base. The injection of new capital allows us to take our proven model and expand into North America, South America and mainland Europe, as well as deliver further enhancements to our AI and Machine Learning capabilities.”
Alex van Someren, Managing Partner of Early Stage Funds, Amadeus Capital Partners, added:
“ContactEngine is at the vanguard of growing consumer demand for consistent, high-quality service across all communications platforms. The ContactEngine team, led by founder Mark Smith, has proved its ability to satisfy major brand-name businesses and we are confident that Amadeus Capital’s investment will help the company break new ground with its outstanding technology.”
Stuart Veale, Managing Partner at Beringea, commented:
“As an experienced investor in the software and B2B sectors, Beringea was attracted by the opportunity to invest in ContactEngine. We recognise that improving the efficiency of customer service operations is vital to the success of many businesses and ContactEngine’s omni-channel approach to customer communications is a highly effective way to do this. ContactEngine already works with many major UK corporations to improve their customer communications, and the company has a huge opportunity to expand its client list, both in the UK and internationally. Our investment, alongside that of Amadeus, will enable it to take advantage of this opportunity.”
For ContactEngine media enquiries:
Joshua Van Raalte or Matt Village
Brazil (PR agency for ContactEngine)
Tel: +44(0) 20 7785 7383
ContactEngine’s customer conversation technology improves the key interactions between corporates and their customers, ensuring that crucial moments such as sales, deliveries and appointments are executed with precision and minimum effort. The automated and interactive communications that ContactEngine provides are used in close conjunction with human resources to provide a trinity of proven benefits: improved efficiency, cost savings and crucially, happier customers.
About Amadeus Capital:
Amadeus Capital Partners is a global technology investor. Since its inception in 1997, the firm has raised over $1bn for investment and backed more than 100 companies in the software, mobile, internet, cyber security and medical technology sectors. The investment team is based in India, South Africa, UK and USA, has deep experience in technology and invests in high-growth companies from early stage to pre-IPO.
Major businesses built by Amadeus include CSR, a connectivity, audio, imaging and location semiconductor company, now owned by Qualcomm (NASDAQ: QCOM); Solexa, the developer of next generation genetic analysis systems, merged into Illumina (NASDAQ: ILMN) to create the world leader in gene-sequencing technology; Optos, the retinal imaging company, acquired by Nikon; ForeScout, a global enterprise security vendor; Octo Telematics, the provider of insurance telematics services acquired by Renova Group; and Tobii, the global innovator in eye tracking (STO: TOBII). www.amadeuscapital.com
For Amadeus Capital Partners media enquiries:
Tel: +44 (0) 790 997 4958
Beringea is a venture and growth capital investor in high growth businesses, with £450m ($600m) under management and 60 portfolio companies. Based in London, UK, and Michigan, U.S., Beringea is able to invest between £1m – £20m into businesses looking for a supportive growth partner.
With £170 million managed from London, and over 40 portfolio businesses, Beringea’s UK team manages one of the country’s biggest evergreen venture and growth capital funds. The team of highly experienced investors has a great track record across a variety of sectors, and has demonstrated a consistent ability to identify winning companies and outstanding management teams.
For Beringea media enquiries:
Tel: +44 (0) 7772124299