Octopus invests in IOVOX

IOVOX will use the funding to expand into the European market. The company plans to strengthen its product development capability, grow its sales team and to roll out its own virtual telephone exchanges.

Octopus invested through Octopus Titan Venture Capital Trust funds, Octopus Eureka and Octopus Venture Partners. The GP worked closely with the management for approximately 18 months before deciding to invest. It told unquote" that it was convinced of CEO Ryan Gallagher's leadership skills and the quality of the team he had built around him. The GP was also convinced of the opportunity to scale the business.

The firm recently announced its third investment in travel company Secret Escapes.

Company
IOVOX is a platform that gives real-time visibility into telephone traffic. It allows users to analyse the effectiveness of telephone marketing campaigns. The company is based in London where it was founded in 2007. The company's current customers include BT, News International, Gumtree and Zoopla, which is an Octopus portfolio company.

People
Alliott Cole is a principal on the ventures team at Octopus.

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