The ratings and reviews service provider has raised over £6.5m for portfolio and market expansion.
Reevoo, a leader in enterprise level content marketing solutions, has announced a further funding round, which brings new monies raised to in excess of £6.5m. This new injection follows a period of rapid growth and blue-chip company wins. This investment will be used to extend Reevoo’s product portfolio as well as extending sales and marketing into new territories and verticals. MMC Ventures led the funding round alongside existing investors: Eden and Banexi as well as new investor Talis Capital.
Reevoo collects trusted user generated content to provide businesses with a platform for consumer engagement, advocacy and customer intelligence. It already works with household brands such as Kia, Lenovo, LV=, General Motors, Dixons Retail, Mazda, Acer and Wyndham. This latest funding will allow Reevoo to strengthen its portfolio of products and services with innovative service solutions to deliver exciting new rich media engagement and content marketing functionality to enterprise CMOs.
The finance has already enabled the recruitment of talent to execute new technology through to dedicated service support, and will also be used to ramp up in new territories in the second part of this fiscal year.
Reevoo’s CEO Jonathan Callcut said: “This new investment tops off what will be another year of excellent performance for Reevoo. Recognised in the Sunday Times Fast track 100 for growth in fiscal 2014, we are confidently forecasting over 150% growth on prior year for fiscal 2015. We’ve added over 120 clients so far this year with more exciting wins to come – this acceleration of customer acquisition and the calibre of the enterprise brands we are signing has given us confidence to go further and faster. With this new funding in place, we’ve embarked on a development programme that will see Reevoo deliver new innovative services to key clients in beta this Summer with the programme becoming available to new clients in new markets from the Autumn.”
Rory Stirling of MMC Ventures, commented: “At MMC we’re proud to back Reevoo and look forward to continuing our work over the coming year. This investment round is testament to what Jonathan and the team have achieved over the past 12 months and will help them solidify their market leading position. Reevoo’s metrics are best in class and we’re super excited about their product innovation plans.”
Matus Maar at Talis Capital said: “We are impressed with Reevoo’s recent customer wins and their ambitious plans for growth. We’re confident that they are capitalising on their core strengths as well as global trends in user generated content and content marketing. We believe they are in a very strong place to deliver tangible value for us.”
Are customers at the heart of your business? Reevoo helps brands turn the voice of the customer into business value through independently collected user generated content. Reevoo’s Ratings & Reviews, Social and Customer Intelligence products work together to help your business engage with, listen to and learn from your customers. Displaying Reevoo’s third party trustmark means your brand will become synonymous with transparency, openness and trust. If customers are at the heart of your business, Reevoo is your natural partner.
For more information contact: MARINA CHEAL, VP Marketing, Reevoo, +44 (0)20 7654 0350
About MMC Ventures
Founded in 2000, MMC Ventures is an active investor and award-winning venture fund manager, focused on technology-enabled sectors where the UK is a world leader – particularly financial and business services, business software, digital media and e-commerce. With over £125 million under management, and investing circa £20 million annually, MMC was ranked as one of most active early-stage UK investors for
2012, 2013 and 2014.
MMC’s existing portfolio includes Boticca, Gousto, iJento, Interactive Investor, Love Home Swap, Masabi, NewVoiceMedia, Pact, Reevoo, Safeguard, Small World, Somo, TotalMobile, and Tyres on the Drive.
About Talis Capital
Talis Capital is a multi-family office based in London, specialising exclusively in direct Private Equity and Venture Capital deals and have completed over $300m of transactions since 2009.