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The race for customer engagement: iAdvize raises 14 million

22 September 2015 13:39
By Tornado Staff

Venture capital investment in European software companies that provide insight into customer behavior, whether to achieve their retention, conversion and/or to engage with them, has taken a tremendous flight. The latest reported deal is the 14 million round in France-based iAdvize. The investment was made by Iris Capital, BPI France and existing backer Alven Capital. The proceeds will be used for further international expansion and to boost product development.

Originally a 'chat service', iAdvize now provides a customer engagement platform comprising of the features 'Click to Chat', 'Click to Call', 'Click to Video', community messaging and social media. The platform also offers behavioral targeting and keyword filtering allowing businesses to manage their contacts, increase conversion rates and improve customer satisfaction.

The plan is to first conquer Europe, with Germany as initial target market. Iris Capital's partnership with Germany-based Capnamic is expected to support the company in this move. Next up will be UK and Spain, before iAdvize will turn to North America. The company plans to add 100 people to its team before the end of 2016.

After an initial funding round in March 2010 from Kima Ventures, Oleg Tscheltzoff, David Sokol and Jean-Michel Sokol, Alven joined as shareholder in October 2012 after investing 1 million in iAdvize.

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