In a round led by Liberty Global Ventures and featuring the participation of fellow Finovate alum NICE Systems, CallVU has raised $3 million in new funding. The investment is the second major capital infusion for the digital engagement platform developer since its undisclosed seed round in 2012.
Joining the round were AfterDox Angel Investment Group and 2B Angels. Tuval Lava, CallVU’s president and chairman of the board, said the funds would help the company improve its technology and grow internationally. “The fact that such a distinguished group of leading international investors have made such a commitment to CallVU illustrates the potential they see in the field of mobile digital engagement in general and in CallVU in particular,” Lava said.
Pictured (left to right): Amitai Ratzon, VP global sales, and Assaf Frenkel, VP, product & marketing, demonstrated the CallVU Mobile Digital Engagement platform at FinovateSpring 2015 in San Jose.
In partnering with NICE Systems, CallVU plans to develop a “joint go-to-market approach” that will help the company expand. The plan includes new offices around the world and hiring sales, product management, software development, and marketing talent. To this end, NICE Systems EVP for Corporate Development Eran Liron highlighted the multiple use-cases for CallVU’s technology. “CallVU Mobile Digital Engagement platform helps financial service organizations and telecom operators, as well as health, travel, and retail companies, advance their digital transformation and contact centers’ optimization strategies a step further,” Liron said.
Lead investor, Liberty Global Ventures, is the investment arm of global cable-giant Liberty Global. The fund invests in both early- and late-stage companies, typically committing $2 million to $20 million, and operates in 14 countries. Liberty Global Ventures’ portfolio features 29 startups (as of December 31, 2015) working in wireless HD video delivery, virtual video technology, and interactive commerce and merchandising, among other fields.
Founded in 2012 and headquartered in Tel Aviv, Israel, CallVu demoed its Mobile Digital Engagement solution at FinovateSpring 2016. The company was named a Cool Vendor in CRM Customer Service and Support in Gartner’s 2016 report. CallVU was featured in our look at fintech in Israel last week. Ori Faran is CEO.
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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account
PYMNTS.com published an interesting, metric-based post on the tech scene in Israel. The post emphasized that while the country has a well deserved reputation as a “cybersecurity hotspot,” it is also true that “Israel’s tech ambitions and prowess extend much further.”
The salient statistic for me: 430—the number of fintech startups headquartered in Israel—is highly impressive, considering only 90 fintech startups existed in 2009.
With that in mind, here’s a look at some recent Israel-based Finovate alums who are helping make the country one of the world’s key locations for fintech innovation.
Our 14 Israel-based Finovate alums have raised more than $164 million in funding. Two alums—NICE Systems and Top Image Systems—are publicly traded on the Nasdaq, and two more—Capitali.se and TipRanks—have won Best of Show awards.
There’s no doubt the fintech in Israel is on the move. The country’s first fintech hub, The Floor, was launched in 2015, and as of March 2016 is now located at the Tel Aviv Stock Exchange. Writing about why fintech innovation is thriving in Israel, VentureBeat’s Avi Zeevi of Carmel Ventures highlighted a few key features:
- Mastery of relevant technologies such as real-time analytics, cybersecurity, and risk management
- Legacy of success creating a “startup ecosystem (with) massive amounts of knowledge”
- The country has learned from other key global financial centers
- Global financial institutions have a presence and have been investing in Israel
- Israeli FIs “have always been open to innovation”
“All of this had led to a dramatic rise in investments in Israel fintech companies,” Zeevi wrote. “By addressing the needs of both developed and emerging markets, Israeli fintech will only continue to grow.”
Are you an Israel-based Finovate or FinDEVr alum that we overlooked? Send us an email at email@example.com and we’ll update our roster.
A look at the companies demoing live to 1,500+ fintech professionals on May 10 & 11. Register today.
CallVU provides its Mobile Digital Engagement Platform that combines rich digital, interactive media and voice into a new customer journey to deliver an engaging and collaborative customer experience.
- Bring digital to callers and non digital customers
- Reuse existing digital assets for new engagements
- Advance to a collaborative environment with your customers
Why it’s great
The win-win solution provides a better customer experience through enhanced engagement. Existing assets can be used to increase revenues and thereby reduce costs to the bank.t is a win-win solution, provides better customer experience, engagement and revenues while utilizing existing assets and reducing costs to the bank.
Ori Faran, Founder and CEO
LinkedInAmitai Ratzon, VP, Global Sales
Check out all of today’s sneak peeks: