Connect with us

Top Stories

NEWVOICEMEDIA SECURES $30M INVESTMENT TO ACCELERATE RAPID INTERNATIONAL EXPANSION AND INNOVATION

Published

on

NEWVOICEMEDIA SECURES $30M INVESTMENT TO ACCELERATE RAPID INTERNATIONAL EXPANSION AND INNOVATION

NewVoiceMedia, a leading global provider of cloud technology which helps businesses sell more, serve better and grow faster, has secured $30m in a new round of funding. New investor BGF Ventures joined existing investors Bessemer Venture Partners (BVP), Eden Ventures, Highland Capital Partners Europe, Salesforce Ventures and Technology Crossover Ventures (TCV).

The new investment will accelerate NewVoiceMedia’s international growth plans, with particular emphasis on the North American market, driven by further expansion of its US-based sales, marketing and professional services delivery teams and alongside its ongoing commitment to enriching its product and platform capabilities.

NewVoiceMedia’s market-leading cloud customer contact platform integrates seamlessly with Salesforce to connect organisations with their customers worldwide, enabling them to deliver a personalised and unique customer experience and drive a more effective sales and marketing team.

NewVoiceMedia is outperforming the rapidly expanding cloud customer contact market fivefold¹. A 20 million contact centre seat market is expected globally by 2020, with upwards of 30% cloud penetration, and last year, the company grew its international new business by 528 percent.

The funding closely follows the company being named a top 25 hottest, fast-growing start-up in Europe by independent media firm Informilo, as identified by some of the most active investors in the sector who nominated and evaluated businesses outside their own portfolios. NewVoiceMedia was also selected as one of the UK’s top 50 growth-stage technology companies to join Tech City’s ‘Future Fifty Class of 2016’, and was listed in the Sunday Times Hiscox Tech Track 100 in recognition of its global expansion and innovative technology. The company now serves more than 500 customers, spanning 128 countries and six continents, including Canadian Cancer Society, JustGiving, Lumesse, MobileIron, Qlik, TNT and Wowcher.

Rory Stirling, BGF Ventures, comments, “At BGF Ventures we look to back UK companies that have the ambition and potential to be global technology leaders; we believe NewVoiceMedia will be one of the most successful software companies to emerge from Europe this decade. As our world becomes increasingly digital and global, it is essential for companies to delight both new and existing customers at every opportunity. NewVoiceMedia’s platform allows organisations to transform the way they engage and interact with their customers, making communication more personal and valuable. I’ve known Jonathan and his team for several years and we couldn’t be more excited to be backing them”.

“Salesforce Ventures is committed to investing in technology that extends our offerings and makes our customers even more successful”, said John Somorjai, EVP of Corporate Development and Salesforce Ventures, Salesforce. “NewVoiceMedia is a great example of the amazing innovation and commitment to customer success that we’re seeing across Europe”.

Jonathan Gale, CEO of NewVoiceMedia, comments, “This investment is further recognition of our incredible recent growth and financial performance. We are delighted to join BGF Ventures’ portfolio. The additional capital from Salesforce Ventures reinforces our position within the Salesforce ecosystem and gives us access to the most experienced and innovative cloud executives, ecosystem and customers to ensure we maintain our impressive growth rate.

“In our last financial year, we grew our international new business by more than 500 percent and with our world-class technology, relentless commitment to driving innovation, market position and momentum, coupled with a multi-billion dollar market opportunity, we look forward to continuing our impressive growth trajectory while helping our global customer base grow their businesses with improved efficiency and greater customer advocacy”.

Top Stories

Sunak to use budget to expand apprenticeships in England

Published

on

Sunak to use budget to expand apprenticeships in England 1

LONDON (Reuters) – British finance minister Rishi Sunak will announce more funding for apprenticeships in England when he unveils his budget next week, the government said on Friday.

Employers taking part in the Apprenticeship Initiative Scheme will from April 1 receive 3,000 pounds ($4,179) for each apprentice hired, regardless of age – an increase on current grants of between 1,500 and 2,000 pounds depending on age.

The scheme will extended by six months until the end of September, the finance ministry said.

Sunak will also announce an extra 126 million pounds for traineeships for up to 43,000 placements.

Sunak’s March 3 budget will likely include a new round of spending to prop up the economy during what he hopes will be the last phase of lockdown, but he will also probably signal tax rises ahead to plug the huge hole in the public finances.

Sunak is also expected to announce a “flexi-job” apprenticeship scheme, whereby apprentices can join an agency and work for multiple employers in one sector, the finance ministry said.

“We know there’s more to do and it’s vital this continues throughout the next stage of our recovery, which is why I’m boosting support for these programmes, helping jobseekers and employers alike,” Sunak said in a statement.

(Reporting by Andy Bruce, editing by David Milliken)

Continue Reading

Top Stories

UK seeks G7 consensus on digital competition after Facebook blackout

Published

on

UK seeks G7 consensus on digital competition after Facebook blackout 2

LONDON (Reuters) – Britain is seeking to build a consensus among G7 nations on how to stop large technology companies exploiting their dominance, warning that there can be no repeat of Facebook’s one-week media blackout in Australia.

Facebook’s row with the Australian government over payment for local news, although now resolved, has increased international focus on the power wielded by tech corporations.

“We will hold these companies to account and bridge the gap between what they say they do and what happens in practice,” Britain’s digital minister Oliver Dowden said on Friday.

“We will prevent these firms from exploiting their dominance to the detriment of people and the businesses that rely on them.”

Dowden said recent events had strengthened his view that digital markets did not currently function properly.

He spoke after a meeting with Facebook’s Vice-President for Global Affairs, Nick Clegg, a former British deputy prime minister.

“I put these concerns to Facebook and set out our interest in levelling the playing field to enable proper commercial relationships to be formed. We must avoid such nuclear options being taken again,” Dowden said in a statement.

Facebook said in a statement that the call had been constructive, and that it had already struck commercial deals with most major publishers in Britain.

“Nick strongly agreed with the Secretary of State’s (Dowden’s) assertion that the government’s general preference is for companies to enter freely into proper commercial relationships with each other,” a Facebook spokesman said.

Britain will host a meeting of G7 leaders in June.

It is seeking to build consensus there for coordinated action toward “promoting competitive, innovative digital markets while protecting the free speech and journalism that underpin our democracy and precious liberties,” Dowden said.

The G7 comprises the United States, Japan, Britain, Germany, France, Italy and Canada, but Australia has also been invited.

Britain is working on a new competition regime aimed at giving consumers more control over their data, and introducing legislation that could regulate social media platforms to prevent the spread of illegal or extremist content and bullying.

(Reporting by William James; Editing by Gareth Jones and John Stonestreet)

 

Continue Reading

Top Stories

Britain to offer fast-track visas to bolster fintechs after Brexit

Published

on

Britain to offer fast-track visas to bolster fintechs after Brexit 3

By Huw Jones

LONDON (Reuters) – Britain said on Friday it would offer a fast-track visa scheme for jobs at high-growth companies after a government-backed review warned that financial technology firms will struggle with Brexit and tougher competition for global talent.

Finance minister Rishi Sunak said that now Britain has left the European Union, it wants to make sure its immigration system helps businesses attract the best hires.

“This new fast-track scale-up stream will make it easier for fintech firms to recruit innovators and job creators, who will help them grow,” Sunak said in a statement.

Over 40% of fintech staff in Britain come from overseas, and the new visa scheme, open to migrants with job offers at high-growth firms that are scaling up, will start in March 2022.

Brexit cut fintechs’ access to the EU single market and made it far harder to employ staff from the bloc, leaving Britain less attractive for the industry.

The review published on Friday and headed by Ron Kalifa, former CEO of payments fintech Worldpay, set out a “strategy and delivery model” that also includes a new 1 billion pound ($1.39 billion) start-up fund.

“It’s about underpinning financial services and our place in the world, and bringing innovation into mainstream banking,” Kalifa told Reuters.

Britain has a 10% share of the global fintech market, generating 11 billion pounds ($15.6 billion) in revenue.

The review said Brexit, heavy investment in fintech by Australia, Canada and Singapore, and the need to be nimbler as COVID-19 accelerates digitalisation of finance, all mean the sector’s future in Britain is not assured.

It also recommends more flexible listing rules for fintechs to catch up with New York.

“We recognise the need to make the UK attractive a more attractive location for IPOs,” said Britain’s financial services minister John Glen, adding that a separate review on listings rules would be published shortly.

“Those findings, along with Ron’s report today, should provide an excellent evidence base for further reform.”

SCALING UP

Britain pioneered “sandboxes” to allow fintechs to test products on real consumers under supervision, and the review says regulators should move to the next stage and set up “scale-boxes” to help fintechs navigate red tape to grow.

“It’s a question of knowing who to call when there’s a problem,” said Kay Swinburne, vice chair of financial services at consultants KPMG and a contributor to the review.

A UK fintech wanting to serve EU clients would have to open a hub in the bloc, an expensive undertaking for a start-up.

“Leaving the EU and access to the single market going away is a big deal, so the UK has to do something significant to make fintechs stay here,” Swinburne said.

The review seeks to join the dots on fintech policy across government departments and regulators, and marshal private sector efforts under a new Centre for Finance, Innovation and Technology (CFIT).

“There is no framework but bits of individual policies, and nowhere does it come together,” said Rachel Kent, a lawyer at Hogan Lovells and contributor to the review.

($1 = 0.7064 pounds)

(Reporting by Huw Jones; editing by Jane Merriman and John Stonestreet)

 

Continue Reading
Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.

Call For Entries

Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Latest Articles

Newsletters with Secrets & Analysis. Subscribe Now