Notion and Eden back NewVoiceMedia with £2.5m

Susannah Birkwood
29 July 2011

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Notion Capital and Eden Ventures have injected ТЃ2.5m into UK call centre technology vendor NewVoiceMedia as part of a second round of funding.

Their investment follows on from their provision of around £4m of series-A funding in May 2010.

According to NewVoiceMedia, the contact-centre market has been dominated by on-premise technology but demand has increasingly been shifting towards cloud computing. The company claims it is acquiring first-time customers for its cloud-based platform as well as businesses that are either supplementing their in-house solution or transitioning their entire contact centre to cloud computing.

Data from Gartner Research suggests that at least 75% of customers will use some form of software as a service (SaaS) application as part of their contact centre by 2013, and that as early as next year, 40% of businesses switching platform will select a cloud-based service. Though growth in the overall contact centre market is flat, the cloud delivery model is growing at a rate of 22.7% per year.

The investors were impressed with NewVoiceMedia's progress in building a reputation for high-quality customer service and support.

The new capital – invested in equal parts by Notion and Eden – will be used towards improving the company's marketing efforts and lead generation. It will also serve to develop its products and the NewVoiceMedia partner programme. Management contributed a further £200,000 of capital.

Company
NewVoiceMedia has developed a cloud-based technology which aims to provide contact centre tools at a fraction of the cost of traditional models. It charges no up-front fees, requires no on-premise hardware or software, and operators work as part of a virtual team.

Headquartered in Basingstoke, the company was founded in 2000. It services 250 call centres around the globe staffed by more than 3,000 agents and directly employs 46 people. It generated a turnover of £3.5m last year and expects to generate £4m in 2011.

People
Partner Chris Tottman worked on the deal for Notion, while co-founder Mark Farmer represented Eden. Both have seats on the company's board. Jonathan Gale is NewVoiceMedia's chief executive officer, while Ashley Unitt and Richard Pickering are the company's founders.