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ICON secures funding for ContactEngine from Amadeus and Beringea

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ICON secures funding for ContactEngine from Amadeus and Beringea

16 Sep 2016

ICON Corporate Finance has advised ContactEngine and its shareholders on a £2m investment by Amadeus Capital Partners and Beringea.

ContactEngine, a London-based technology leader in the automation of customer conversations, has raised the investment to fund its expansion into Europe and the Americas. ContactEngine helps companies with large customer service operations achieve unparalleled response rates to customer communications, enabling them to deliver significant cost savings, drive business performance and improve customer satisfaction. Major clients include Virgin Media, Sky, Whirlpool, Telecom Italia and British Gas. The Company has already established a presence in Italy, Germany and Brazil and will use the funding to further develop its offering, reach and partnership network.

Dr. Mark K. Smith, CEO and founder of ContactEngine, commented “ContactEngine is a highly successful business which delivers unique services to clients. As consumer behaviour and communications become more complex and multi-faceted, we have a clear opportunity to project this success globally. The injection of new capital will allow us to take our proven model and expand into North America, South America and mainland Europe, as well as deliver further enhancements to our AI and Machine Learning capabilities.”

Mark added “Fundraising is never simple and having a guide though the process is extremely helpful. ICON supported us throughout the journey and it is testament to their abilities that this ultimately led to a successful conclusion with two of the best VCs in our space investing.”

Eddie Harding, Investment Director at ICON Corporate Finance, who advised the Company on the deal said "Following a highly competitive process, I'm delighted we've been able to attract two such experienced, high profile tech investors as Amadeus Capital and Beringea. Mark and his team have established ContactEngine as a market leader in SaaS-based Customer Comms tech, achieving unparalleled response rates for its customers. This funding round will help the Company drive further product development and scale its sales and marketing operations globally, positioning it strongly for further growth."

Alex van Someren, Managing Partner of Early Stage Funds, Amadeus Capital Partners, added “ContactEngine is at the vanguard of growing consumer demand for consistent, high-quality service across all communications platforms. We are confident that Amadeus Capital’s investment will help the company break new ground with its outstanding technology.”

Stuart Veale, Managing Partner at Beringea, commented “We recognise that improving the efficiency of customer service operations is vital to the success of many businesses and ContactEngine’s omni-channel approach to customer communications is a highly effective way to do this. ContactEngine already works with many major UK corporations to improve their customer communications, and the company has a huge opportunity to expand its client list, both in the UK and internationally.”

Mathias Loertscher and James Taylor of Osborne Clarke acted on behalf of the Company, and Neil Blundell and Andrew Collins of Bird & Bird acted for the investors.