ResponseTap secures growth funding from Beringea and Eden Ventures
ResponseTap, a specialist in call tracking and analytics, has secured GBP4m of Series B funding including GBP2.5m from Beringea, which manages the ProVen Venture Capital Trusts, and GBP1.5m from Eden Ventures.
ResponseTap will use this investment to accelerate expansion in the US and to continue support for its UK development team.
Since its first external funding round in 2012, ResponseTap has grown to over 50 employees and has an established US presence and a solid client base. ResponseTap’s technical platform has been radically restructured following user feedback.
ResponseTap provides agencies and brands with granular data about the journey of a web visitor leading up to, during and after a phone call to a business. This insight enables its clients to analyse and improve the efficiency of their marketing activities. ResponseTap’s data can additionally be integrated with other tools including web analytics, bid management, CRM and call centre infrastructures.
Stuart Veale, managing partner at Beringea, who will join the ResponseTap board, says: “ResponseTap has developed a product that will lead the next generation of call analytics. As more expensive and more complex products are increasingly sold online, we believe that the importance of phone calls will increase, rather than decrease, as a sales channel. ResponseTap is well-positioned to take advantage of this trend and this funding will help them build a stronger platform for growth in the US and the UK.”
Ross Fobian, CEO and co-founder of ResponseTap, says: “All of this gives us the perfect springboard to continue our expansion in the US, to continue our technical development, increase the associated support team and to launch into Europe. We continually use feedback from our clients to improve our technology and support - a wider client base between the US and the UK makes this even more optimised. We’re looking forward to seeing what insights our clients can gain with this new round of investment.”
Peter Jones, partner at Eden Ventures, says: “We recognised ResponseTap’s potential two years ago and are delighted to continue supporting the rapid growth of this business. The company’s development, since we first invested, has been very impressive and we look forward to helping the management achieve their future expansion plans.”
ResponseTap’s technology offers attribution for its clients across the US and the UK. Its customer base includes household names such as Tui, British Gas and Aviva in the UK and build.com in the US, as well as over 500 marketing agencies. It processes over a million calls a month in the UK alone.
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