IOVOX Secures $10M in Funding
Begins investing in U.S. expansion and making phone data as valuable and actionable as email
SAN FRANCISCO, LONDON, Feb. 15, 2017 — Global call analytics company IOVOX Ltd. announced today the completion of a $10M Series A round of equity and debt financing led by Octopus Ventures, SF Capital, and Silicon Valley Bank. IOVOX is using the new investment to expand in the United States and execute a product strategy to widen the addressable market for IOVOX services.
Co-founded in the U.K. by Ryan and Belinda Gallagher, IOVOX is a leading European provider of call analytics solutions for large brands such as British Telecom, Zoopla (the U.K.’s largest property portal), AutoTrader U.K., and Pizza Express. The company has recently expanded into the United States, and its office in Mill Valley, Calif. serves as a hub for its U.S. growth plans.
Each year billions of phone calls are placed to businesses around the globe, but unfortunately only a small portion of those calls are related to inbound sales calls measurable by traditional call tracking solutions. With its new funding, IOVOX has set out to make all calls - mobile and desktop - more useful for individuals and businesses, allowing users to seamlessly sync, store, organize, and search their call data across all devices.
“Historically, the call tracking industry has been focused on helping prove ROI for inbound marketing calls,” said Ryan Gallagher, Founder and CEO of IOVOX. “While that is a very valuable service and is something at which IOVOX already excels, inbound marketing calls are just a portion of a company’s total call volume. With this new funding, we’ve set out to make all calls - regardless of source - actionable, informative, and able to be analyzed for individuals and for businesses of any size.”
“IOVOX has built a valuable business throughout Europe with its focus on call analytics, and we’ve been proud to back its efforts,” said Jo Oliver, Investment Director, Octopus Ventures. “We’re supportive of the company’s vision, and we believe the data generated from calls is just as valuable as email and other data that passes in and out of a business every day. This funding enables IOVOX to make all this information available and useful for individuals and businesses.”
“IOVOX is empowering businesses of all sizes from across the world to derive insights from their call activities,” said Drew Beito, Vice President at Silicon Valley Bank. “We’re excited to provide this debt financing to IOVOX as it expands in the U.S. and prepares to roll out its new service offerings.”
IOVOX’s mission is to make data from business phone calls as useful, actionable, and valuable as email or chat. Trusted by leading brands and global customers in more than 30 countries, IOVOX delivers on its mission via call analytics and collaboration solutions.
About Octopus Ventures
Octopus Ventures is a London and New York based venture capital firm focused on backing unusually talented entrepreneurs. Octopus invests from £250,000 to £25 million in a first round of funding and will look to follow in subsequent rounds, and are proud to be known as one of the most entrepreneur friendly investors in Europe. Octopus Ventures is part of the Octopus group, one of the UK’s fastest growing investment management companies with more than £5.5 billion of assets under management. Learn more at http://www.octopusinvestments.com.
About SF Capital Group
SF Capital Group is a private investment firm representing the interests of a single family. The firm invests across all asset classes with a flexible, long-term investment focus. SF Capital’s portfolios include allocations to traditional as well as alternative investments such as hedge funds and private equity. The firm also invests in direct equity and debt investments of private companies.
About Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at http://www.svb.com.