Call tracking start-up ResponseTap boosted by £4m Series B funding
Backing will be used to accelerate US expansion for market leader
Leading call tracking and analytics business ResponseTap today announced it has completed a £4m round of Series B funding from venture capital firms Beringea and Eden Ventures.
Founded in 2008, ResponseTap operates a service for agencies and brands that provides them with data about phone calls to their business, including what a web visitor does online before, during and after a call.
The tech firm claims the data gained from its service can be integrated with other analytics activities to assess the overall effectiveness of marketing activities.
ResponseTap concluded its first external funding round in 2012 and has since seen a period of boosted growth, increasing its team to 50 employees and entering the US market.
The latest £4m backing, which included £2.5m from Beringea (manager of the ProVen Venture Capital Trusts) and £1.5m from Eden Ventures, will be used to accelerate the firm’s expansion into the US and continue support for its UK-based development team.
Beringea managing partner Stuart Vale, who will join the ResponseTap board as part of the deal, commented: “ResponseTap has developed a product that will lead the next generation of call analytics. As more expensive and more complex products are increasingly sold online, we believe that the importance of phone calls will increase, rather than decrease, as a sales channel.
“ResponseTap is well-positioned to take advantage of this trend and this funding will help them build a stronger platform for growth in the U.S. and the UK.”
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Ross Fobian, CEO and co-founder of ResponseTap, added: “All of this gives us the perfect springboard to continue our expansion in the U.S., to continue our technical development, increase the associated support team and to launch into Europe.
“We continually use feedback from our clients to improve our technology and support – a wider client base between the U.S. and the UK makes this even more optimised. We’re looking forward to seeing what insights our clients can gain with this new round of investment.”