London-based text messaging startup Augnet has secured £1.3 million in a funding round led by Triple Point.
The startup claims to have developed “a unique technology that enables SMS messages to be tracked and ensures a 100% delivery rate through a patent-protected, encrypted solution,” it stated in a press release. The goal here is to make sure that the organisations that need to send a lot of texts to customers pay only for the messages that are actually sent, thus reducing fraud.
Augnet says that it’s working with a number of corporate customers, “from financial institutions to booking sites and airlines.”
“The average consumer knows SMS as a simple, quick way to send messages,” said Ian McLennan, head of venture at Triple Point. “High open rates offer companies growing possibilities to use this platform. By increasing accountability and efficiency in the delivery of SMS messages, Augnet is in a strong position to help large corporates solve the significant challenge they face in targeting consumers via SMS technology.”
In the photo: Jekaterina Orlova, COO of Augnet, and Daniel Gill, founder and CEO of Augnet.