Natterbox secures Series A funding from Octopus Investments to accelerate growth and meet increasing global demand
UK-born tech success story is disrupting how businesses harness the power of voice to deliver amazing customer service
Croydon, London – 18th April 2018: UK scale-up Natterbox has announced today that it has secured significant Series A funding from Octopus Investments to continue its rapid growth. As the world’s first global business phone system managed entirely within Salesforce, the Natterbox platform allows companies to revolutionise interactions with customers over the phone and provide them with a much more streamlined, informed and personalised experience.
Self-funded to date by its founders, Natterbox has always heavily invested in product development and evolving its service offering. The new injection will boost marketing and sales, helping to further improve on the fantastic customer service which customers such as Groupon and Legal & General rely on. It will fuel growth within existing geographies – UK, Germany and Australia – as well as moving into new territories including North America and the Nordics.
Natterbox chose to partner with Octopus Investments based on its track record of successfully supporting high-growth technology firms and a shared commitment to a customer-first approach.
“Our goal is to help brands provide the ease, flexibility and personalisation of service over the phone that customers get when interacting online. There is a huge opportunity, that many businesses are missing out on, to take insights from phone calls and use them to better inform customer service agents and sales teams when speaking to customers,” says Neil Hammerton, CEO and co-founder of Natterbox. “We believe we are one of the most disruptive business in our sector, and our success to date shows the market need for what we deliver. We have the people, the technology and now the capital we need to accelerate our growth.”
“Natterbox is a really exciting business. It has a compelling, disruptive proposition, which is supported by a strong customer base that makes it perfectly poised for rapid growth. With its experienced management team and customer-first approach, it is a great addition to our portfolio” says Grant Paul Florence, head of Intermediate Capital at Octopus Investments. “We look forward to working with the team as it expands into new areas and builds on its success to date,” adds Ian Potter, Investment Director, who led the investment for Octopus and will join Natterbox’s Board.
As part of this Series A funding, Natterbox also chose Clydesdale Bank to re-finance and significantly extend its banking facilities with growth finance capital. “Clydesdale Bank’s Growth Finance team is one of the few lenders disrupting the traditional understanding of banking relationships for Software-as-a-Service companies. The team overachieved to develop and deliver a highly competitive funding package that provides us with a stable platform from which to grow,” says Tim Ampstead, Chief Financial Officer at Natterbox.
Natterbox launched in 2010 to solve business telephony issues and bring voice into the digitised customer experience through a global cloud PBX service that captures and integrates voice into customer processes. Over 500 organisations around the world rely on Natterbox to set new standards in customer experience, drive measurable increases in sales efficiency, competitive advantage and organisational success. Customers include Groupon and Legal & General.
About Octopus Investments
Octopus Investments, part of the Octopus Group, is an award-winning, fast-growing UK fund management business with leading positions in tax-efficient investments, multi manager funds, and UK smaller company financing. We can back companies through their growth cycle from early stage to those listed on AIM, providing investors with the opportunity to benefit from our active management and expertise. We manage assets for retail investors and institutions including pension funds, asset managers, fund-of-funds and family offices. And we’re changing the world of investments for the better by offering a straight-talking approach to investing, exceptional customer service and a range of products that aim to do what they say they will.
Octopus is one of the UK’s fastest growing companies. We’re building businesses to transform markets and customer expectations. We are experts in investments, UK smaller companies, energy and healthcare. We currently manage more than £7.5 billion on behalf of our customers. Octopus Investments, Octopus Energy, Octopus Healthcare, Octopus Labs, Octopus Property and Octopus Ventures are all part of Octopus Group. Visit octopusgroup.com.
About Clydesdale Bank Growth Finance
Clydesdale Bank Growth Finance operates UK wide to provide support that is vital for innovative and rapidly expanding businesses that need specifically tailored packages to support both investment needs and their working capital requirements as they build their future enterprise value.
Clydesdale Bank is part CYBG PLC Group. Clydesdale Bank was established in 1838 in Glasgow and, as one of Scotland’s largest banks, has a proud history of innovation and support for industry and communities across the UK.