Next Coast Ventures, Andreessen Horowitz, and Salesforce Ventures extend their investments and support of Austin-based Tenfold.
PRESS RELEASE — AUSTIN, TEXAS – Tenfold, a next-generation CTI company that integrates the world’s leading CRM and voice platforms, today announced that it has secured $7.5 million in Series C funding led by Next Coast Ventures. The round includes investments from other returning investors Andreessen Horowitz, Geekdom Fund and Salesforce Ventures. Tenfold plans to use the funding to extend its real-time cloud integration layer and intelligent integrated UI to support more voice platforms and CRMs. These integrations connect critical data across sales and service teams in real-time, making Tenfold’s platform an industry leader in powering better customer engagement. “Customers are awaiting the day when they call into a support or service center and the agent on the other end knows exactly who they are and is enabled with relevant information right at their fingertips to provide personalized and efficient service,” said Jeff Cotten, the CEO of Tenfold. “This additional funding will give Tenfold the ability to further empower global sales and service organizations to better serve customers at the point of interaction with intelligent ‘no-touch’ data capture and streamlined sales and service workflows.” Creating a fully integrated sales and service experience is a challenge for most customer engagement centers, forcing agents to deal with many systems and screens to get the information they need to serve a customer. The real value to the agent is in the streamlined workflows and fully integrating voice into the CRM that Tenfold’s intelligent integrated UI provides. The platform applies a contextual lens to the CRM ensuring agents have immediate access to the most relevant data for their interaction and solve the task at hand, while simultaneously automating and simplifying complex workflows. Tenfold’s SaaS-based delivery model is fully compatible with legacy on-premise phone systems as well as modern VoIP and cloud-based communications platforms. Unlike solutions that require appliances or local provisioning, it is completely cloud-based allowing for reliability, scalability, and connectivity anywhere across the globe and currently serving customers on all six major continents. Tenfold has recently expanded its relationship with such providers as NICE inContact, RingCentral and Avaya to better integrate their platforms with CRMs such as Salesforce, ServiceNow, Microsoft Dynamics, Zendesk and several others. “We’re very impressed with the market traction that Tenfold is getting with large-scale contact centers in strategic industries like financial services, retail and high tech, which is why we wanted to increase our stake in the company,” said the EVP and GM Salesforce Service Cloud, Bill Patterson. “Tenfold provides Salesforce with the depth and breadth we need to better integrate the voice channel into our sales and service CRM and thus are a critical partner for us to enable a more human-centric service experience that is effortless and personal.” “Tenfold’s a mission to revolutionize the customer service experience fits squarely into our investment thesis: a great entrepreneur disrupting a massive industry using cutting-edge technology to solve a universal pain point for companies and consumers alike,” said Michael Smerklo, co-founder and managing director of Next Coast Ventures. “Since coming on as CEO just eight months ago, Jeff Cotten has already done an incredible job of reshaping the company’s vision by building out a great team and driving a relentless focus on delivering real value for Tenfold’s growing customer base.”
Tenfold is a global leader in next-generation CTI solutions for sales and service organizations of all sizes. We believe the company’s Cloud-First approach and Intelligent Integrated Desktop Agent combined with its’ productized, yet highly configurable real-time integration layer between business applications and communication channels maximizes ROI for companies on voice and CRM.
Tenfold has over 600 deployments in more than 60 countries. Its’ customers include many large enterprise companies across a range of sectors, including telecommunications, insurance, financial services, hospitality, and healthcare. Backed by Andreessen Horowitz, Next Coast Ventures and Salesforce Ventures, Tenfold is trusted by its customers and partners to improve and analyze more than 1.5 Billion interactions every year. For more information, please visit http://www.tenfold.com.
About Next Coast Ventures
Next Coast Ventures is an Austin venture capital firm that partners with bold entrepreneurs building innovative companies in big markets. It provides early-stage capital to high-growth startups in ‘Next Coast’ markets, using macro trends and themes to guide their investment strategy. Next Coast provides its growing group of portfolio companies hands-on, company building resources through its strong industry network, Entrepreneurs Council program and the founders’ own experiences as entrepreneurs. Learn more at http://www.nextcoastventures.com.
Salesforce is the fastest growing top five enterprise software company and the #1 CRM provider globally. Salesforce Ventures—the company’s corporate investment group—invests in the next generation of enterprise technology that extends the power of the Salesforce Customer Success Platform, helping companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world’s largest cloud ecosystem and the guidance of Salesforce’s innovators and executives. With Salesforce Ventures, portfolio companies can also leverage Salesforce’s expertise in corporate philanthropy by joining Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 300 enterprise cloud startups in 20 different countries since 2009. For more information, please visit www.salesforce.com/ventures.