ContactEngine Raises £2 million to fund international expansion
October 3rd 2016
Tech leader in the automation of customer conversations plans to further its UK success into the Americas and Europe. Beringea and Amadeus Capital Partners led the fundraising round
(London, UK) 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.”