Talkative, a Newport-based tech company, has secured a follow-on equity investment of almost half a million pounds to help fund its global expansion in North America.
Led by the Development Bank of Wales, which has invested £200,000, the co-investment comes from its angel investors (£68,000) and Wesley Clover (£200,000). This brings the total investment in the business by the Development Bank since 2018 to £450,000.
Having grown its revenue by 800% since 2018 and grown a customer base that includes global brands such as Suzuki and Formula One, Talkative provides a suite of digital contact channels for the $25 billion global contact center industry. Powerful, easy-to-use web solutions are designed to humanize the digital journey.
The latest round of funding will help develop market opportunities in North America with a focus on recruitment and core product line development. This includes improved video chat functionality, digital-centric customer contact, and self-service solutions. There will also be investments in deeper integration with ecosystem platforms like Salesforce and Microsoft.
Founded by co-founders Felix Winstone and Jakub Srsen, Talkative is based at the Wesley Clover Innovation Center in Newport and participated in the Alacrity Foundation, a unique entrepreneurship program that builds and accelerates the growth of high-tech start-ups.
The technology developed by Talkative transforms the way organizations interact with consumers through their website. Voice, video and chat are integrated into customer-facing websites/apps and intelligently routed through the contact center infrastructure, bridging the gap between online sales and contact centers.
Felix Winstone said, “The continued support of the Development Bank and Wesley Clover as institutional investors has given us the assurance and confidence to invest in our technology and scale so that we can take advantage of a rapidly changing global market.
“We have experienced significant growth of over 800% since our first round of seed funding with 40% of our customer base now outside the UK. With the support of our funding partners, we have a longer-term opportunity to build a global business that is at the forefront of the emerging video chat category and helping to redefine customer contact in the digital age. »
Andy Morris of the Development Bank of Wales said: “The Talkative team has developed a robust and proven technical solution that has global reach given the shift from telephone to digital-centric customer solutions and the particularly rapid growth video chat in the contact center. industry.
“As early investors in Talkative with pre-seed capital and follow-on funding, we are delighted to have supported the growth of this innovative company over the past four years. This is a really exciting market with an opportunity to grow at a pace without an established incumbent. Indeed, as Alacrity Foundation alumni, they have already gained real traction with high profile clientele and the creation of highly skilled jobs.
Simon Gibson, CBE, DL, Managing Director of Wesley Clover, commented on the investment round: “As investors, we are excited about Talkative’s international growth prospects. The company provides global brands with advanced online customer interactions. Armed with their new round of investment, we look forward to helping Talkative realize its full potential in the North and South American markets.”