NewVoiceMedia closes $50m Series E round

New investor Technology Crossover Ventures leads major backing of cloud contact centre vendor

Leading cloud-based contact centre vendor NewVoiceMedia today announced it has secured a $50m Series E round of funding, set to back another major period of expansion for the business.

Founded in 2009, NewVoiceMedia specialises in providing cloud-based customer contact centres to its business customers, which are essentially a digital alternative to traditional call centres.

Since launch the firm has grown rapidly, doubling its number of staff over the last year and serving more than 13,000 agents in 40 countries across five continents, with clients including Parcelforce, DPD, Qlikview and Truphone.

The $50m round was led by new investor Technology Crossover Ventures (TCV), with input from existing investors Bessemer Venture Partners (BVP), Highland Capital Partners Europe, Eden Ventures, Notion Capital and salesforce.com.

It will be used to accelerate NewVoiceMedia’s international expansion, invest in new technology and strengthen infrastructure more generally in the North American, Asia-Pacific and Middle East/African markets.

The latest investment takes the total raised by the company over the last 18 months to $105m, of which $20m came in a previous Series B round led by Highland Capital Partners and MMC Ventures in January 2013.

Jonathan Gale, chief executive of NewVoiceMedia, said: “This investment is a powerful endorsement of our world-class technology, market position and global business strategy.

“In our last financial year, license revenue grew at over 100 percent, outpacing the market fivefold; and as the contact centre industry transitions rapidly to the cloud, our technology leadership, global infrastructure and superior sales and marketing will allow NewVoiceMedia to continue its growth trajectory ahead of the market.”

John Rosenberg, general partner at tech investor TCV, will join the NewVoiceMedia board as part of the deal. Rosenberg said: “TCV’s strategy is to invest in leading growth technology companies with a proven business model.

“We were impressed with NewVoiceMedia’s experienced leadership team, clear vision, relentless focus on excellent customer service, extremely rapid expansion and innovative multi-tenant cloud contact centre platform.

“We are thrilled to have the opportunity to help NewVoiceMedia continue its impressive growth.”

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