Natterbox secures £7.5m to accelerate global expansion
Business phone system Natterbox has secured £7.5m of growth equity funding from the Development Capital team at Octopus Investments.
The firm - which offers a business phone system managed within Salesforce - will use the capital to support its continued global expansion, strengthen its sales and marketing operations, and further invest in its product development teams.
Natterbox was launched in 2010 to solve business telephony issues and bring voice into the digitised customer experience. Its customers include Groupon and Legal & General.
Since Octopus Investments’ initial investment in 2018, Natterbox has grown significantly, opening offices in both Sydney and Chicago.
Last year, it doubled its client portfolio and expanded its relationship with several existing clients such as Fruit of the Loom, Groupon and Virgin Wines.
The company also launched its Freedom interface, which gives users the ability to remotely, and Natterbox for Remote Workers,
Neil Hammerton, CEO and Co-Founder of Natterbox said: “We’re on a big growth trajectory; last year was the best one yet for Natterbox.
“Our updated product suite alongside the increased reliance on virtual communication, puts us in an extremely strong position for the years ahead.
“At the heart of our success is our dedication to working alongside our customers as a partner, and this is more important now than ever as they rapidly evolve how they engage with their customers over the phone.
“This funding round is validation of that commitment and it will enable us to expand our business operations and offer new, enhanced products and services that continue to drive new standards in customer experience.”
Richard Court, Head of Development Capital at Octopus Investments, added: “Since our initial investment into Natterbox two years ago, we have been very impressed by the management team’s ability to scale the business and deliver on its growth objectives whilst still maintaining its focus on customer care, innovation and culture.
“We believe there remains a large global market to go after, and Natterbox is perfectly primed to build on its successes to-date. We look forward to supporting Natterbox on the next stage of its exciting journey.”