Cloud contact centre vendor NewVoiceMedia has raised $50 million in a Series E round of funding. New investor Technology Crossover Ventures led the round, joined by existing shareholders Bessemer Venture Partners, Highland Capital Partners Europe, Eden Ventures, Notion Capital and salesforce.com.
Leading cloud contact centre vendor NewVoiceMedia, announced today it has secured $50m in a Series E round of funding. The new investment will accelerate the company’s rapid international expansion, develop its portfolio of award-winning true cloud solutions and strengthen its infrastructure, sales, marketing and professional services capability in North America, APAC and EMEA.
New investor Technology Crossover Ventures (TCV) led the round, joined by existing shareholders Bessemer Venture Partners (BVP), Highland Capital Partners Europe, Eden Ventures, Notion Capital and salesforce.com. This takes the total raised by the company over the last 18 months to $105m.
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 significantly outperforming the rapidly expanding cloud contact centre market, and has doubled its number of staff over the last year to meet increased demand for its technology. The company now serves in excess of 13,000 agents in 40 countries on five continents, including Parcelforce, QlikView, DPD, Topcon Positioning Systems and Truphone.
TCV is a leading, Silicon Valley-based provider of growth capital to technology companies. Its general partner John Rosenberg will assume a position on NewVoiceMedia’s board of directors with immediate effect.
Rosenberg comments, “TCV’s strategy is to invest in leading growth technology companies with a proven business model. We were impressed with NewVoiceMedia’s experienced leadership team, clear vision, relentless focus on excellent customer service, extremely rapid expansion and innovative multi-tenant cloud contact centre platform. We are thrilled to have the opportunity to help NewVoiceMedia continue its impressive growth”.
Jonathan Gale, CEO of NewVoiceMedia, comments, “This investment is a powerful endorsement of our world-class technology, market position and global business strategy. In our last financial year, license revenue grew at over 100 percent, outpacing the market fivefold; and as the contact centre industry transitions rapidly to the cloud, our technology leadership, global infrastructure and superior sales and marketing will allow NewVoiceMedia to continue its growth trajectory ahead of the market”.
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”.
Ed Anderson, research vice-president at Gartner, commented in the December 12, 2013 report ‘Cloud Services Will Establish the Foundation for Next-Generation Solutions’, “Organizations are discovering the value of cloud services and the associated cloud-based operating models to enable more flexible and agile IT environments. These environments are more responsive to changing business conditions and promise new opportunities as well as competitive threats. Although cloud services are not ideally suited to every scenario, most organizations report some cost savings by adopting them. Because of these benefits, companies’ IT spending plans show dramatic increases in cloud investments across all types of cloud services offerings in the next one, two and five years”.
For further information, please visit www.newvoicemedia.com.
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Additional quotes from investors
“Quite simply, NewVoiceMedia is the world’s leading cloud contact center company. Over the next five years we expect to see a 20 million contact center seat market globally, and upwards of 30% cloud penetration and believe this will be led by NewVoiceMedia. Through an innovative combination of technology and service delivery, its ContactWorld solution is the first multi-tenant, true cloud offering to deliver five-nines reliability, with performance data publicly available through its trust site, as well as record implementation time. We look forward to seeing the business further its global success”. – Alex Ferrara, partner at Bessemer Venture Partners
“Led by NewVoiceMedia, the cloud contact centre market is growing rapidly as organisations of all sizes take advantage of the latest developments in cloud technology. Today’s announcement is another major step in NewVoiceMedia’s global expansion, as it continues to outpace the market and help customers drive transformation”. – Laurence Garrett, general partner at Highland Capital Partners Europe
“With its unparalleled suite of true cloud solutions which are built entirely in-house, NewVoiceMedia is completely revolutionising sales and service performance – and the demand for reliable, highly secure, flexible and scalable cloud solutions continues to grow. We’re excited to further strengthen our continued relationship with NewVoiceMedia, to help them realise the incredible global opportunity they have”. – Mark Farmer, co-founder of Eden Ventures
“Having experienced impressive growth over the last year, NewVoiceMedia is creating a real success story with its world-leading true cloud technology. Since first partnering with NewVoiceMedia, we’ve seen businesses ranging from large enterprises, to SMEs, transform their businesses globally using NewVoiceMedia’s ContactWorld platform, as they deliver personalised, unique customer experiences and drive a more effective sales and marketing team”. – Chris Tottman, founding partner at Notion Capital
NewVoiceMedia powers customer connections that transform businesses globally. The leading vendor’s award-winning cloud customer contact platform connects organisations with their customers worldwide, enabling them to deliver a personalised and unique customer experience and drive a more effective sales and marketing team. With a true cloud environment and proven 99.999% platform availability, NewVoiceMedia ensures complete flexibility, scalability and reliability.
Spanning 40 countries and five continents, NewVoiceMedia’s 250+ customers include: Topcon, PhotoBox, DPD, Lumesse, QlikView and Cunningham Lyndsey.
For more information visit www.newvoicemedia.com or follow NewVoiceMedia on Twitter @NewVoiceMedia.
Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of capital to growth-stage private and public companies in the technology industry. With nearly $10 billion in capital raised, TCV has invested in more than 200 technology companies over the last 18 years. Selected investments include Altiris, C|NET, ExactTarget, Expedia, Facebook, Fandango, FX Alliance, GoDaddy, HomeAway, Netflix, RealNetworks, Redback Networks, RiskMetrics Group, Sitecore, Splunk, Spotify, Thinkorswim, and Zillow. TCV is headquartered in Palo Alto, California with offices in New York and London.
About Bessemer Venture Partners (BVP)
Bessemer Venture Partners (BVP) invests in early-stage, hyper-growth startups, partnering closely with entrepreneurs to build durable businesses. BVP is a global firm with offices in Menlo Park, Cambridge, New York, Mumbai, Bangalore, Herzliya and Sao Paolo. With $4 billion under management, BVP invests anywhere from $100,000 to $75 million in innovative companies like LinkedIn, Yelp, Skype, CornerstoneOnDemand, Pinterest, Box and Twilio. Over 100 BVP companies have gone public – last year alone BVP had 5 IPOs, 7 M&A exits, and 20 new investments.
About Highland Capital Partners Europe
Through a dedicated pan-European growth equity technology fund, Highland Capital Partners Europe embraces Highland Capital Partners’ global mission of helping great people build great companies. Highland Capital Partners was founded in 1988 and has raised over $3 billion of committed capital. Highland has backed a number of companies that have been recognised as leaders within their industry categories, including: Altiga Networks, Avid Technology, CheckFree, Conor Medsystems, eToys, lululemon athletica, Lycos, MapQuest, Ocular Networks, Qihoo 360, Quattro Wireless, Quigo Technologies, Starent Networks, Sybase, Telica, Vertica Systems and VistaPrint.
About Eden Ventures
Eden Ventures invests in technology companies in the telecommunications software, enterprise software, SaaS, digital media, e-commerce, Internet, social media and mobile sectors in Europe. As serial entrepreneurs, Eden’s partners bring the highest levels of expertise in building early stage technology companies. In addition Eden brings a strong investment track record, offering potential for high returns in this exciting sector. Eden adds significant sales and marketing, organisational and financial focus and capabilities to the existing inherent technology value of its portfolio members.
About Notion Capital
Notion is a venture capital firm focused on high potential businesses in the Cloud Computing and Software-as-a-Service (SaaS) markets. The Notion team has unique expertise and experience in the Cloud Computing market having founded, built and exited two highly successful businesses in the space – Star and MessageLabs. Companies within Notion’s portfolio include Brightpearl, eSellerPro, Shutl, The Currency Cloud, Ideo, Duedil and Tradeshift.