Envolve Tech raises £720K investment
Big news! We have successfully closed our latest funding round for a total of £720,000.
The vast majority of investment was provided by private investors, including several prominent members of the performance marketing industry from the Thorium Technology Investor Network. Additional investment came from the female angel investment network Angel Academe.
We opened the round with a goal of raising £325,000, but demand turned out to be much stronger than we expected.
The money comes at an important time for us, as we have seen a surge in demand following the boom in online shopping during the COVID-19 pandemic. With the new funding in place, we can now be fully focused on meeting that demand and developing further product improvements.
Here are what some of our investors said about their decision to back us:
“Envolve Tech is seeing a rapid uptake of its technology which is used to enhance and up sell clients using online chat services. TTI investors are delighted to lead this round to fund the company through this period of rapid global expansion as leading global brands deploy its technology.” – Chairman of Thorium Technology Investors Mike Bourne
“From the get-go we were hugely impressed with Envolve Tech’s drive and insight. They have developed a product that has the potential to deliver real innovation in an arena that has only grown and grown this year and yet remains ripe for disruption.” – Angel Academe advisory board member & deal lead Mel Varley
Closing this round, especially at the higher than expected amount, provides Envolve Tech with a huge opportunity now.
We are speaking to bigger and bigger retailers every week about helping them boost their conversion rates, and now we have the space to focus on just this new business and product improvements for the foreseeable future.
With the backing of our investors, we are looking forward to a strong finish to Q4 2020, and a 2021 focused on rapid growth.