The new funds will be used to push B2X’s international expansion of its platforms into new markets. It claims its revenues have grown 59% since 2011.
Apple, Motorola, and Xiaomi currently use B2X’s technology to provide customer care. The company added that it has a keen eye on the Chinese market. The fresh round of investment will aid those plans, said Rainer Koppitz, CEO of B2X.
“There is a tremendous market opportunity for insurance providers in the mobile and IoT sector with nearly 70% of the world’s population being connected through networked devices. This market alone is a $50 billion opportunity for insurances,” he said.
“Furthermore there is a large group of cool Chinese mobile brands anxious to expand outside of China and we want to be the partner of choice.”
“We are excited to provide growth capital to B2X to accelerate its business expansion into additional target markets including the insurance industry and Chinese smartphone brands”, said David Bateman, senior management director at Harbert.