Participated · Equity · Aug 2024

CloudPay provides global payroll, salary payments and pay-on-demand services with real-time reports and customizable dashboards for payroll and finance teams. The company processes more than 3 million payslips a year across 130+ countries and handles payroll for about 280 firms, including Visa, Wayfair, Wells Fargo, Expedia and the London Stock Exchange. CloudPay reports contracted revenue of $125 million and says it has more than doubled revenue over the last three years. The company employs about 1,350 people and has offices in Raleigh, Budapest, Shanghai, Costa Rica, Barcelona and elsewhere. Leadership says CloudPay plans to use new funding to add integrated partners and invest in automation and AI, and expects to make AI announcements later this year. CloudPay provides cloud-based, end-to-end global payroll and payments services for enterprise customers, connecting payroll, payments, and on‑demand pay across a single platform. The company offers employee solutions including Earned Wage Access and a pay-on-demand app, and has launched partnerships with Visa Direct and HR platform HiBob. CloudPay's platform operates across 130+ countries and 168 currencies and services an impressive roster of global, blue-chip customers. The business is reporting high, double-digit year-over-year growth, processing 2.5 million payslips annually and recently surpassing 1,000 employees. Management projects approximately 40% revenue growth for 2022 and says the new capital will support continued innovation and expansion of its global payroll and payments offering. CloudPay plans to continue expanding its integrated payroll and payments services to meet growing demand in the modern workplace. CloudPay provides a unified global payroll platform that connects payroll, payments, and on-demand pay for multinational employers. The company offers treasury services and an earned wage access product, CloudPay NOW, which is live in 12 countries and has won a CODiE award. CloudPay says over 1,500 multinational companies use its platform across more than 130 countries. In 2020 the company exceeded its pre-COVID new business plan growth by 50 percent, and it has seen increased demand for expanded treasury services and consolidation of pay operations onto its platform. Management plans to use funding to build fintech capabilities, including peer-to-peer payments, and to expand its employee financial wellbeing solutions. CloudPay provides managed global payroll services to multinational organizations through a single, unified cloud solution. Its platform processes payroll in line with complex local and country-specific requirements, eliminating error-prone manual processes and ensuring timely payments. The solution guarantees accurate payroll processing across 130+ countries and in more than twenty-five languages. The company is led by Paul Bartlett (CEO) and Joshua Ruch (Chairman) and operates out of NYC and London. CloudPay intends to use new growth capital to scale the business and bring new products to market. CloudPay provides managed global payroll services to multinational organizations via a unified SaaS solution available in more than twenty-five languages across 120+ countries. The platform is used by over 2,400 multinational entities. Led by CEO Paul Bartlett, the company combines managed services and a technology platform to handle payroll for large and smaller multinationals. The firm is headquartered in New York City. CloudPay plans to use its recent funding to grow its global operations team and to expand the market for its technology platform and services to more multinational companies and smaller multinationals. The article reports a $25M funding round with participation from Rho Ventures, Pinnacle Investment Partners and Hercules Capital.

Participated · Equity · Jul 2024

IntelePeer provides enterprise-grade, vendor-neutral AI-powered communications automation that integrates with existing business software to automate voice, messaging, and digital channels. Its platform uses generative AI and domain-specific workflows to build AI Agents and intent maps that identify high-ROI automation use cases for customers. The company has automated more than 600 million customer interactions and reports lowering the cost of an interaction ten-fold; one customer automates over 60 million inbound interactions annually with >70% full self-serve, and a Fortune 100 customer is on track to save more than $100 million in labor costs. IntelePeer says its AI business grew more than 100% year-over-year and is forecasting further acceleration. The company emphasizes responsible AI guardrails and partners with Microsoft Azure OpenAI to support secure, compliant deployments. Funding will be used to expand its AI Agent portfolio and increase investment in product, development, sales, and marketing. IntelePeer’s core product is the Atmosphere® CPaaS, which enables companies to engage customers via voice, SMS and social messaging while providing AI-enabled automation, communications routing, and on-demand analytics. The company is executing a strategy to expand beyond SIP and voice into a full omni-channel communications solutions provider. Management plans to grow organically by increasing sales, marketing, product and development headcount, and inorganically through acquisitions of complementary technologies and go-to-market assets. IntelePeer has received industry recognition from Frost & Sullivan, Gartner and IDC, underscoring its positioning in enterprise communications. Financially, the company has recently completed new financings and a credit facility to accelerate growth and innovation of its enterprise-centric Atmosphere platform. IntelePeer is a San Mateo–based Communications Platform as a Service (CPaaS) provider whose Atmosphere® CPaaS platform delivers global voice and messaging, communication APIs, workflow automation, and AI-enabled analytics. The platform is designed for business users so departments can automate processes, improve customer and employee experience, and engage audiences with outbound notifications. IntelePeer recently closed a $55 million credit facility that it will use to accelerate development and innovation of Atmosphere, expand platform capabilities, and drive customer acquisition and global enterprise expansion. The company said operating resources from the facility will be dedicated to continuing its growth across platform capabilities and market expansion. IntelePeer has been recognized by Frost & Sullivan and included in Gartner’s Market Guide for CPaaS, positioning it within a rapidly growing CPaaS market. IntelePeer Cloud Communications LLC is a San Mateo, California–based provider of business communications, offering cloud-based unified communications, cloud contact center, and enterprise voice services. Led by CEO Frank Fawzi, the company delivers full-service cloud calling directly integrated with Cisco Spark and provides UC enablement for Internet carriers and hosting companies. In March 2018 IntelePeer received a $15 million venture loan facility; Horizon Technology Finance Corporation funded an initial $12 million of its commitment under the facility. Horizon, a NASDAQ-listed specialty finance company, provides secured loans to venture-backed technology and related companies. The company said it will use the proceeds for general working capital purposes. IntelePeer is backed by VantagePoint Venture Partners, Kennet Partners and NorthCap Partners. IntelePeer provides hosted, on-demand rich media communications services. The company is based in San Mateo, Calif. It secured $4M in equipment financing to support its rapid growth. The financing will be used to deploy additional network infrastructure. ATEL Ventures provided the equipment financing as a secured financing provider to emerging growth companies. CFO Andre Simone said the financing helps the company scale quickly to satisfy customer needs while growing appropriately.

Participated · Series F · Jun 2022

Invoca provides a cloud-based, AI-powered conversation intelligence platform that enables marketing, sales, customer experience, and eCommerce teams to understand and immediately act on information shared via conversations. Through deep integrations with top technology platforms, the company turns conversation data into automated actions to enhance digital touchpoints and human interactions, driving improved experiences, higher conversions, and increased revenue. Invoca recently introduced contact center solutions including automated quality management, agent coaching and performance, call routing, and conversational IVR, and plans to increase technology investments in these areas. The platform is used by brands such as Dish Network, Mayo Clinic, Mutual of Omaha, and 1-800-GOT-JUNK?. Led by CEO Gregg Johnson, the company intends to use new funding to accelerate product innovation through organic development and acquisitions, expand partnerships and distribution in the contact center ecosystem, and broaden geographic coverage. In June 2022 Invoca raised $83M in a Series F at a $1.1B valuation, bringing total equity financing to $184M. Invoca provides an AI-powered call tracking and conversational analytics platform that delivers real-time call and conversational insights to help marketers maximize paid media ROI and enrich customer profiles in Salesforce and Adobe Experience Cloud. Led by CEO Gregg Johnson and based in Santa Barbara, Calif., the company integrates with digital advertising, marketing technology and CRM systems to drive more revenue-generating calls and improve conversion rates. Earlier this month Invoca released Signal Discovery, a feature that uses a proprietary unsupervised machine-learning model to analyze buying conversations and surface factors affecting consumer intent, such as competitive promotional campaigns. Marketers can apply those insights in real time to boost conversion rates and improve the buying experience. The company intends to use the new funds to accelerate product development and broaden its partner ecosystem across digital advertising, martech, CRM, and affiliate marketing. The round brought total funding raised to date to $116M. Invoca offers a call-intelligence SaaS platform that measures analytics on live inbound calls and integrates those signals into marketing analytics similarly to web page views. The company has built integrations with major marketing clouds and partners, including Adobe Marketing Cloud, Salesforce, Google, Oracle and Marketo. The product is positioned for enterprise CMOs to deliver personalized customer experiences across devices and channels. Invoca is a SaaS business and has drawn strategic investor interest tied to its enterprise customer base. The company completed a $30M Series D that brings its total funding to just north of $60M. Mark Woodward joined as CEO in July; his IPO experience was cited as a reason for the hire and the new capital gives the company the option to pursue an IPO in 2017. Management also described the company as "completely self-funded," indicating operational cash strength and flexibility in deciding next steps. Invoca provides call tracking, call analytics, and custom treatment of inbound calls based on factors like location and customer status. The product integrates with sales and marketing platforms including Salesforce.com, Adobe, Kenshoo, Marketo, iCrossing, Cake, Tealium, and HasOffers. The company says it is used by more than 3,000 marketers, including Liberty Mutual Insurance, OpenTable, Answer Financial and DirecTV. Invoca reportedly saw an annual growth rate of 200 percent last year. Headquartered in Santa Barbara and formerly known as RingRevenue, the company positions itself to give enterprise marketers measurement and optimization for the phone channel. It plans to open a Bay Area office, double its workforce to more than 150 people in the next year, and increase spending on sales, marketing, and product development.

Led · Series D · Sep 2020

Conversica develops AI-native software for automotive retailers that consolidates customer, vehicle, sales, service, and communication data into a unified context layer. Its newly announced Ignite platform integrates with existing dealership management and CRM systems to surface revenue opportunities and support two-way, omnichannel customer engagement. Ignite is designed to provide visibility across multiple dealer locations and to refine engagement strategies over time by learning from customer outcomes. The company focuses exclusively on automotive retail and emphasizes activating existing customer relationships to improve retention, service revenue, and vehicle sales. Conversica recently completed a majority recapitalization led by a fund managed by Morgan Stanley Expansion Capital, with management retaining a significant ownership stake; financial terms were not disclosed. The firm plans to use the investment to accelerate deployment of Ignite, enhance its AI capabilities, and expand supported communication channels.