Australia-based Whispir has closed an $11.75m round of funding to support its expansion in Asia.
Contributions to the round came from Telstra Ventures, NSI Ventures, Rippledot Capital, Whispir CEO and co-founder Jeromy Wells, and other private investors.
Whispir helps to design communications applications for interacting with consumers. The platform helps to connect various communication methods with insights, worldwide best practices, capabilities and workflows to improve interactions.
For financial services the platform can help to support billing and payment notification processes, by issuing invoices, contract renewals, payment reminders and expiry notifications. The technology also helps to automate the onboarding and servicing tasks.
The platform is used across financial services, real estate, non-profits, travel, AEC, healthcare, education, government and energy industries, among others. Some of the company’s partnerships include Australian telecommunications company Telstra, Singapore-based telecom provider StarHub.
IBM recently launched its global Resiliency Communications as a Service solution, built on the Whispir platform.
Capital from the round will be used to further its rapid expansion in Asia and the US. Over the past 24 months, the company has increased its staff count by 47 per cent and grown sales by up to 55 per cent in all regions. In Asia has had a 145 per cent YoY growth in Singapore.
Whispir CEO and co-founder Jeromy Wells said, “Cost savings from efficiencies are one thing, having the capabilities to mitigate risk for our customers are another, but the magic really happens when Whispir becomes the means by which our channels and end user customers have new ways to generate new revenue streams – this is the most compelling value.”
Earlier in the year, NSI Ventures led the undisclosed Series A investment in to InsurTech platform Axinan according to data by FinTech Global. The company offers big data and machine learning solutions for online marketplaces and platforms.
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