Ottawa, Ontario – July 14, 2015 – Benbria®, leading provider of text and mobile customer engagement solutions, announced today the completion of a $3.5M Series A financing round led by Verizon Ventures with participation from existing investor Wesley Clover International. Benbria will use the capital to aggressively expand its sales and marketing efforts as well as further innovate its flagship solution, Loop® Text & Mobile Customer Engagement.
Text messaging has become one of the preeminent forms of communication around the world—with CTIA’s annual survey reporting a staggering 7 trillion text messages sent every year. This preference for communications is also impacting how businesses interact with their customers. A recent Harris Poll survey found that two out of every three customers would rather use texting over voice as a customer service channel. With 200% year-over-year customer growth, Benbria is at the forefront of this social-mobile revolution, developing a text and mobile customer engagement solution used by top hotel, retail, and restaurant brands.
“Benbria is strategically positioned to capitalize on the growth in text and mobile customer engagement solutions,” said Mark Smith, Executive Director, Verizon Ventures. “We are excited to collaborate with and support Benbria as they work to build a great company in an exciting category.”
“The Series A financing builds on an exceptional year for Benbria which saw a rapidly growing roster of clients and market momentum in the high growth area of text and mobile customer engagement,” said Andrea Baptiste, CEO, Benbria. “We are honored to pursue this goal with the support of our investors Verizon Ventures and Wesley Clover. Verizon Ventures has the ability to connect us with the wider Verizon ecosystem, which helps us deliver unparalleled consumer experiences to our enterprise clients. This in tandem with Wesley Clover’s track record of supporting successful next-generation companies, strengthens our position to further capture significant market share.”
Loop® Text & Mobile Customer Engagement
Loop enables brands and customers to engage in meaningful two-way conversations when problems arise, and when requests, suggestions, and compliments need to be communicated by the customer. Loop’s advanced natural language analytics help brands to improve operations by taking advantage of the detailed two-way dialogue. This allows management to monitor trends, dips in performance and successes in real-time. In these ways, texting and mobile engagement not only enhances the experiences of happy customers, but also turns dissatisfied customers into contented ones—resulting in customer satisfaction, customer recovery, more spend, increased loyalty, and most importantly, more positive online reviews.
Verizon Partner Program and Benbria
As a member of Verizon’s Partner Program, Benbria and Verizon work together to jointly market and sell the Loop solution to retail, restaurant, and hospitality markets. Operating in the Verizon Cloud, Loop helps national brands to better connect with customers through their preferred channels of communications. Benbria brings a unique combination of multi-channel communications, natural language analytics, and a technology platform that scales to meet the social-mobile needs of today’s demanding consumers.
Loop®, by Benbria Corporation, is a text & mobile engagement solution that helps hotel, retail, and restaurant brands to enhance the customer experience. Leveraging the customer’s preferred choice of communications – texting, web chat, native app, email and kiosk – Loop allows customers to communicate directly with management and staff to make requests, resolve issues and share their experience before, during and after their visit. Closing the loop through on-the-spot staff action helps brands to improve customer satisfaction, save at-risk customers, increase revenue and foster positive online reviews. Get in the loop® at www.benbria.com.
Director of Marketing