Sharpen Secures $ 14 Million Funding Led by Bridge Bank and Multiplier Capital
INDIANAPOLIS – (COMMERCIAL THREAD) –Refine technologies, the developers of agent-first omnichannel cloud contact center platform, has secured $ 14 million in growth funding, said CEO Bill Gildea. Bridge Bank and Multiplier Capital led the investment cycle, with input from the firm’s existing investors, including Cultivation Capital. This increase will be used across all departments to support the rapid growth of the business.
“Bridge Bank is thrilled to help lead this latest round of funding and to partner with the Sharpen team to support their strong growth,” said Brian McCabe, Senior Director of Technology Banking Group at Bridge Bank in Washington DC. . “We look forward to seeing them continue to grow in the CCaaS industry. ”
The latest round of funding brings the total amount raised by Sharpen to over $ 55 million. This follows a year in which the company saw a + 100% increase in revenue and a + 40% increase in new bookings. At the same time, Sharpen was named to the 2020 Inc. 5000 list of America’s fastest growing private companies, based on a 137% growth rate over the past three years.
Multiplier General Partner Wilson King said, “Sharpen offers a differentiated cloud native solution with a strong growth profile, an established market presence and an experienced management team. We are delighted to partner with management and existing investors to support the continued growth and success of the business.
According to Gartner, before the pandemic, only 15% of the estimated $ 24 billion contact center market had moved to the cloud. New industry data from the research firm reveals that 35% of the Customer Experience (CX) workforce will work from home by 2023, up from 5% in 2017. At the crossroads of these two trends is Sharpen’s cloud-based omnichannel platform. , which with just a PC, headphones and an Internet connection, makes it easy for agents to work from anywhere.
“Our ability to attract investment partners of the caliber of Bridge Bank and Multiplier is a vote of confidence in our business model,” said Gildea. “By giving agents the tools and data they need to be successful, we are also successful. Our customers, in some cases, are saving more than they spend with us, as we continue to shake up the contact center space and increase our market share. ”
About Sharpen Technologies
Refine technologies is the first in the world, really agent-driven contact center platform built in the cloud for the cloud. The omnichannel platform allows users to work from anywhere, seamlessly moving between calls, texts, chat, emails, social media, and more, all at the same time. real and in a single interaction. Sharpen was recognized by Frost & Sullivan’s Contact Center Buyers Guide, North America for “Spectacular ROI,” “Out-of-the-Box Integrations,” “Powerful Reporting and Analytics” and “Demonstrable Value “. In 2020, he made the Inc. 5000, the magazine’s annual list of America’s fastest growing private companies. And, it’s a “Best Workplaces” by Inc. (2019) and the Indiana Chamber of Commerce (2017, 2018, 2021). Visit Sharpen at LinkedIn, Facebook, Youtube, Twitter and the Refine the blog.
About Bridge Bank’s Technology Finance Group
Bridge Bank’s Technology Finance group provides flexible financial solutions to emerging, mid-market and advanced technology companies in the United States. The team’s expertise spans multiple verticals including e-commerce, digital marketing, mobile, clean and green tech, telecommunications, infrastructure, etc. Bridge Bank is a division of Western Alliance Bank, a member of the FDIC, the main subsidiary of Phoenix-based Western Alliance Bancorporation, one of the nation’s top performing banking companies. Western Alliance is once again # 1 of the 50 largest US public banks in the new S&P Global Market Intelligence list for 2020 and tops the Forbes list of “America’s best banks” year after year. Serving clients across the country, wherever business takes place, Western Alliance Bank operates individually branded full-service banking divisions and has offices in key markets nationwide. For more information visit bridgebank.com.
About Multiplier Capital
Multiplier Capital is a private over $ 500 million growth debt platform, with offices in Austin, New York and Washington, DC. It provides secured loans to fast growing and professionally backed companies in the technology sector, including enterprise software, technology services, consumer e-commerce and health technology sub-sectors. . Companies choose Multiplier for its reliable, flexible and patient lending approach and its ability to tailor growth capital solutions. Multiplier partners have invested over $ 1.4 billion in capital in over 150 transactions over the past 19 years as a team and have a proven track record of delivering exceptional risk-adjusted returns in all climates of market. Please visit www.multiplicator.com for more information.