Tel Aviv-based Lightico, a next generation platform for digital customer interactions, has secured $14.5 million in funding. The investors were Mangrove Capital Partners, Crescendo Venture Partners, lool ventures and Spinach Angels.
NEW YORK, TEL AVIV, July 9, 2019 — Lightico, the pioneer of the next generation platform for digital customer interactions, today announced a $14.5 million investment by Mangrove Capital Partners, a venture capital firm whose portfolio includes major tech companies like Skype, WalkMe and Wix. Also participating are Crescendo Venture Partners and early-stage investors lool ventures and Spinach Angels.
Lightico’s groundbreaking technology replaces clunky, costly and frustrating customer-facing business processes with digitized, effortless customer interactions. Lightico’s platform enables businesses to instantly collect eforms, eSignatures, documents, photos, eConsent, payments and verify ID from their customer’s mobile device – for simple, secure and app-free interactions. The funding will be used to build on Lightico’s exceptional year-over-year growth, accelerate product development and expand its global presence to transform the way businesses sell and serve their customers.
In the last year, Lightico has quadrupled in employee headcount and increased its revenue by 500%. Today, it services millions of consumers through more than 250 financial institutions, telcos and insurance companies.
“Today’s consumers have been trained by companies like Amazon, Uber, Apple and Netflix to expect instant experiences anywhere, especially on their mobile phones. Lightico helps regulated businesses accelerate and simplify complex processes in the critical last mile of the customer journey, where customers transact,” said Zviki Ben-Ishay, Co-Founder and CEO. “Our technology empowers businesses to deliver the instant digital experiences consumers demand by eliminating the ping-pong of paperwork, endless emails and redundant phone calls that plague sales and service processes. With this investment, we are excited to accelerate our global expansion and continue investing in product innovation.”
Lightico was built to address the need to connect front-end customer experience to back-end systems, and its technology aims to transform how businesses complete customer-facing processes. It has received more than 10 awards and recognitions for its innovative technology, including NICE’s Rising Star Partner Award, Amdocs’ Best Partner in Digital Domain, and most recently, a 2019 finalist for the CCW Excellence Awards for Disruptive Technology of the Year.
“Lightico has an unparalleled understanding of what today’s businesses need and tomorrow’s customers want. Its cutting-edge technology simplifies complex processes to speed up and secure the transactions that often stall business,” said Roy Saar at Mangrove Capital Partners. “Customer experience is quickly becoming the differentiator between companies that excel and companies that dissolve in the Digital Age. Lightico’s rapid growth and unique product offerings make it a standout player in the industry, and we’re excited to support their continued success.”
To learn more about Lightico, please visit www.lightico.com.
Lightico’s mission is to empower businesses to create streamlined experiences in the last mile of the customer journey, where customers want to get things done, now.
In today’s experience-driven economy, customers expect intuitive and instant business interactions. However, businesses are ill-equipped to deliver such experiences to customers on their cell phones while speaking with them on the phone. The result is frustrated customers, lost sales, higher operational costs, and damaged NPS scores.
Lightico’s next generation platform for digital customer interactions empowers businesses to collect forms, documents, e-signatures, photos, consent to disclosures and to verify ID instantly instantly, even while they have customers on the phone.
By simplifying customer interactions in the last mile of the customer journey, businesses make it easier for their customers to be their customers, earning their trust and loyalty, translating to higher profits.
About Mangrove Capital Partners
Mangrove Capital is a European venture capital firm and has a portfolio of over 100 companies, having raised over $1 billion in venture funding since its inception in 2000. The company focuses on the tech industry and looks for companies who are pioneers of new horizons. Some of its most successful investments include Wix, a publicly traded mid-cap stock, and Skype, which was purchased by eBay in 2005.