Top CX Funding Round in August 2020

Customer Experience

Customer Experience

Customer experience is fast becoming a top priority for businesses.

In the modern-day business world, every business seeks to keep customers upfront of its innovative services. They don’t want to lose any opportunity to deliver value to and gain prominence from their customers. That is why almost every company these days is making strategies by putting customers at the center stage to drive better customer experience. Investing in CX initiatives has the potential to encourage customer retention, improved spending, and overall customer loyalty. According to the 2020 U.S. CX Index, which scales the relationship between CX quality and customer loyalty, in the pre-COVID-19-imposed economic shutdown, many companies had created a reservoir of CX equity that will now need to win back their customers.

While CX is the result of every interaction a customer has with a business, investment in customer experience technology is likely to see an immense rise in the coming days, as organisations seek to boost customer understanding and minimize churn rate.

Here are top CX funding companies that have made in August 2020 in their seed, Series and venture rounds in order to develop their products, expand the reach and deliver more value to the customer.

 

Robinhood

Funding Amount: US$100 million

Transaction Type: Series G

Lead Investor(s): D1 Capital Partners

Robinhood, a stock brokerage that allows customers to buy and sell stocks, options, ETFs, and cryptocurrencies with zero commission, closed US$200 million in Series G funding round to improve core product and customer experience. Led by D1 Capital Partners, the company’s total valuation reached US$11.2 billion.

 

Trell

Funding Amount: US$11.4 million

Transaction Type: Series A

Lead Investor(s): KTB Network, Samsung Ventures

Trell, a lifestyle-community-commerce platform based in Bengaluru, India, raised US$11.4 million in a Series A funding round led by KTB Network and Samsung Ventures, along with CEO of Teachable Ankur Nagpal, Board Member – Pinterest, Square, DoorDash Gokul Rajaram, and former Head of Google Play Store Development Vineet Buch. Firebolt Ventures in the round, along with existing investors Sequoia’s Surge, Fosun RZ Capital, and WEH Ventures also participated in the round. Launched in August 2017 by IIT Bombay Alumni, Trell offers users to share 3-minute videos showing their interests in order to connect with other like-minded users.

 

Verloop.io

Funding Amount: US$5 million

Transaction Type: Series A

Lead Investor(s): Falcon Edge Capital

Verloop.io, an automated customer support and engagement platform, secured US$5 million in Series A funding round led by Falcon Edge Capital, along with existing investors IDFC Parampara, Infosys Co-founder Kris Gopalkrishnan, and K Ganesh. According to the company, this funding marks a significant milestone for Verloop.io, and has grown by 200 percent (ARR) as well as have seen substantial growth across tech, product and people in the last 2 years. Verloop.io plans to allocate 60 percent of the funds to enhance its tech while using the remaining amount for hiring talent, sales and global expansion across the Middle East, Southeast Asia and the US.

 

Smarter Biz Technologies

Funding Amount: US$1.07 million

Transaction Type: Seed Round

Lead Investor(s): StartupXseed Ventures

SmarterBiz Technologies, an artificial intelligence-driven customer experience platform, raised US$1.07 million in a seed round led by StartupXseed Ventures. As an AI-powered CX platform that enables remote management of customer journeys and agent life cycles, the startup has previously raised undisclosed seed funding in 2015 from Utthishta Yekum Fund. Founded in 2014, SmarterBiz has assisted several enterprises, including unicorns build scalable, flexible, and hyper-local customer experience, cost-effectively.

 

CityCash

Funding Amount: US$1 million

Transaction Type: Seed Round

Lead Investor(s): Orios Venture Partners

CityCash, a public transit-focused offline and contactless payments company, secured US$1 million in a seed funding round from early-stage venture capital firm Orios Venture Partners. The company will use the fresh capital to expand its market and merchant ecosystem, as well as to deploy open-loop national common mobility cards on SoftPoS, a mobile-based point of sale system, and digital ticketing solutions.