We are delighted to announce $8 million in venture capital funding to accelerate the development of our software to automate customer processes and deliver them over any customer channel. This Series B Callvu investment round is to fuel accelerated development and growth for our software platform to digitize and automate customer processes for frictionless interaction.
Lead Investors for Callvu Investment
The lead investors in the Series B funding round include NAventures, the corporate venture capital arm of National Bank of Canada, and Prytek, a multinational technology group delivering enterprise technology and managed services in finance and insurance. Previous investor Liberty Global Ventures also participated in the round.
Great CX is a Must Have in 2021 and Beyond
“Managing the customer experience has moved beyond a nice-to-have and is now arguably one of the most critical components of competitive advantage,” said Michael Oiknine, CEO of Callvu. “The global market for customer experience software management is expected to reach $14.45 billion by 2025, but there are surprisingly few companies providing the low-code tools needed to rapidly digitize and automate broken customer journeys. With this new investment round, Callvu will be able to expand our core platform as well as drive market adoption of our CX Automation tools.”
How Our Platform Enhances Digital CX
Callvu’s low-code approach to customer experience rapidly digitizes and automates broken customer journeys, transforming them into frictionless, end-to-end digital experiences. Using Callvu, companies can easily add custom digital workflows in any customer channel including websites, apps, chat, IVR, call centers, and in-store. Callvu integrates with existing enterprise technology to facilitate automation with prebuilt connectors and robust APIs that sync front-end experiences with backend CRM, Contact Center, Service Desk, and Payment systems. Callvu customers include National Bank of Canada, Bank Leumi, Banca Transylvania, and the Israeli Ministry of Health.
Growing Investment in Robotic Process Automation (RPA)
Over the last few years, there has been significant interest and investment in RPA (robotic process automation) to automate internal workflows. Customer-facing workflows can benefit as much, or more, from process automation. However, customer-facing process are more unpredictable and complex. The ability to build low-code digital interfaces, integrations, and automations makes Callvu ideal for the rapid automation of customer-facing processes. Callvu makes it easy for brands to design and build secure, automated CX workflows without writing code.
Gartner: CX a Priority for ¾ of Businesses
According to Gartner’s research, more than 80% of organizations say they expect to compete primarily on customer experience. Gartner also reports a substantial increase in CX spending, with 74% of companies polled indicating they expected to increase their CX budget. Forrester notes that an increase of one point on their proprietary Customer Experience Index can increase revenue by more than $1 billion, with additional CX improvements driving even greater revenue growth.
“Demand for CX technology is rising as more organizations allocate capital to deliver the effortless digital experiences that customers have come to expect from service providers,” said Igal Ohayon, Investment Director at NAventures. “There are few best-of-breed software tools available capable of automating and customizing the customer journey the way that Callvu can. Investing in Callvu gives us a stake in a burgeoning market as well as access to cutting edge CX Automation technology.”
Callvu is reimagining the way leading brands digitally transform their customer experience. As a pioneer and a leader in low-code CX app development and automation, Callvu empowers modern enterprises to rapidly digitize and automate CX journeys and deploy them anywhere they engage customers. By removing friction from sales and service interactions, our clients cut costs, convert more sales, and keep customers happy. For more information, visit callvu.wpenginepowered.com