Santa Barbara’s Invoca raises $30 million
Invoca, a Santa Barbara-based call intelligence company, raised $30 million in its latest funding round the company announced March 30.
The Series D funding round was led by new partner Morgan Stanley Alternative Investment Partners as well as existing partners Accel Partners, Upfront Ventures, Santa Barbara’s Rincon Venture Partners and Stepstone. Invoca has now raised $60 million since its founding in 2008.
“This new funding round only accelerates our ability to make them successful, from our product and customer service capabilities to our expansion in the market,” Invoca CEO Mark Woodward said in a news release.
Woodward told the Business Times he’s thrilled a large partner like Morgan Stanley led the round. In a statement, Morgan Stanley showed faith in the company.
“Invoca built a platform that addresses the top concern for enterprise CMOs today — delivering personalized customer experiences across devices and channels,” said Jamey Sperans, Morgan Stanley Alternative Investment Partners managing director in a news release. “We are thrilled to partner with a proven team.”
The funding round is the largest in the company’s history. In March 2014, Invoca raised $21.75 million in a round led by Accel and Rincon Venture Partners.
Invoca used the funds raised in 2014 to double the size of the company and open offices in San Francisco, San Jose and Boulder, Colo.
Woodward told the Business Times the company started seeking another round of funding in November. It took slightly longer than expected, but Woodward said he’s happy to raise the sum during a tough funding environment.
The funds will be used to grow the company and position it as a market leader in the call intelligence industry, Woodward said.
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