UK-based IOVOX, a call analytics company, has raised $10 million in both equity and debt financing from Octopus Ventures, SF Capital, and Silicon Valley Bank. The company said the round is 90% equity.
IOVOX’s technology is used by businesses to track their call data, especially inbound sales, but now intends to expand that remit. Its clients include British Telecom, Zoopla, and Pizza Express and it recently began its expansion into the US market. The new round of funding will be used to boost its US growth plans.
“Historically, the call tracking industry has been focused on helping prove ROI for inbound marketing calls,” said Ryan Gallagher, CEO. “While that is a very valuable service and is something which IOVOX already excels at, 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 analysed for individuals and for businesses of any size.”
“IOVOX is empowering businesses of all sizes from across the world to derive insights from their call activities,” added Drew Beito, vice president at Silicon Valley Bank, which provided debt financing in this round.