BGF Ventures invests in NewVoiceMedia
BGF Ventures has invested in NewVoiceMedia, a leading global provider of cloud technology which helps businesses sell more, serve better and grow faster, as part of a $30m funding round. BGF Ventures joins existing investors Bessemer Venture Partners (BVP), Eden Ventures, Highland Capital Partners Europe, Salesforce Ventures and Technology Crossover Ventures (TCV).
The new investment will accelerate NewVoiceMedia’s international growth plans, with particular emphasis on the North American market, driven by further expansion of its US-based sales, marketing and professional services delivery teams and alongside its ongoing commitment to enriching its product and platform capabilities.
NewVoiceMedia’s market-leading cloud customer contact platform integrates seamlessly with Salesforce to connect organisations with their customers worldwide, enabling them to deliver a personalised and unique customer experience and drive a more effective sales and marketing team.
NewVoiceMedia is outperforming the rapidly expanding cloud customer contact market fivefold¹. A 20 million contact centre seat market is expected globally by 2020, with upwards of 30% cloud penetration, and last year, the company grew its international new business by 528 percent.
The funding closely follows the company being named a top 25 hottest, fast-growing start-up in Europe by independent media firm Informilo, as identified by some of the most active investors in the sector who nominated and evaluated businesses outside their own portfolios. NewVoiceMedia was also selected as one of the UK’s top 50 growth-stage technology companies to join Tech City’s ‘Future Fifty Class of 2016’, and was listed in the Sunday Times Hiscox Tech Track 100 in recognition of its global expansion and innovative technology. The company now serves more than 500 customers, spanning 128 countries and six continents, including Canadian Cancer Society, JustGiving, Lumesse, MobileIron, Qlik, TNT and Wowcher.
Rory Stirling, BGF Ventures, comments, “At BGF Ventures we look to back UK companies that have the ambition and potential to be global technology leaders; we believe NewVoiceMedia will be one of the most successful software companies to emerge from Europe this decade. As our world becomes increasingly digital and global, it is essential for companies to delight both new and existing customers at every opportunity. NewVoiceMedia’s platform allows organisations to transform the way they engage and interact with their customers, making communication more personal and valuable. I’ve known Jonathan and his team for several years and we couldn’t be more excited to be backing them”.
Jonathan Gale, CEO of NewVoiceMedia, comments, “This investment is further recognition of our incredible recent growth and financial performance. We are delighted to join BGF Ventures’ portfolio. The additional capital from Salesforce Ventures reinforces our position within the Salesforce ecosystem and gives us access to the most experienced and innovative cloud executives, ecosystem and customers to ensure we maintain our impressive growth rate.
“In our last financial year, we grew our international new business by more than 500 percent and with our world-class technology, relentless committed to driving innovation, market position and momentum, coupled with a multi-billion dollar market opportunity, we look forward to continuing our impressive growth trajectory while helping our global customer base grow their businesses with improved efficiency and greater customer advocacy”.
¹ Based on the June 6, 2012 Market Trends: Contact Center as a Service, North America, 2012 research compiled by analysts Daniel O’Connell and Drew Kraus of Gartner, Inc., “The North America contact center as a service market is projected to experience a compound annual growth rate of 17.8% through 2016”.