Invoca Raises $20 Million to Continue Enterprise Push
Call Based Marketing Automation provider Invoca announced today that it received $20 million in Series C funding led by Accel Partners. Following a recent rebranding (formerly RingRevenue), Invoca will use the funding to scale operations and tackle the enterprise opportunity, such as call centers.
This also comes amidst lots of strong growth for Invoca. Launched in 2008, more than 3,000 marketers now use its call marketing software to generate leads and optimize conversion rates. It also boasts 200 percent revenue growth for the past four years and $1 billion in transactions completed over its platform in 2013.
This all comes as calls are given more recognition as a form of inbound marketing. That has a lot to do with increasing smartphone use — especially for high intent mobile search. Completing phone calls has proven to be a seamless consumer use case, leading to lots of opportune inbound marketing.
Invoca is a big proponent of this opportunity, particularly for large enterprises that thrive on incoming calls. This applies to advertising but also to making sure that operations run smoothly and leads are managed and routed within large call centers.
Some of its Fortune 1000 customers include Liberty Mutual Insurance, OpenTable, Answer Financial and DirecTV. And it’s integrated with partners such as Salesforce Adobe, Kenshoo and Marketo, further positioning it for growth and penetration of the enterprise opportunity.
We’ll continue watching Invoca’s growth closely, and the application of funding to accelerate that growth. It’s an opportune time for call monetization, shown by two large funding announcements within one week, among lots of other telling signs.