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08 February 2016

ResponseTap secures £900k funding to help tap into high-growth market

Deal release

 

ResponseTap, a Salford company which has developed an advanced call-based marketing automation software has received a £900,000 investment from The North West Fund for Mezzanine, managed by Enterprise Ventures.

 

ResponseTap's solution enables companies to track customers' behaviour from the time they first visit their website through to the point they pick up the phone to place an order, and use the data to enhance the customers' phone call experience. The funding is expected to create 13 new jobs and will allow the company to accelerate the development of the software.

 

ResponseTap was established in 2008 by friends Ross Fobian and Richard Hamnett, who met and conceived the idea whilst at university. The company's call tracking software incorporates web analytics to link the online customer journey to a phone call, enabling companies to track and improve marketing return on investment. It is now a market leading solution used by over 1,600 customers including names such as TUI, Aviva and Hiscox.

 

ResponseTap's latest product, call-based marketing automation, was developed with backing from private equity firms Eden and Beringea. It allows companies to use the online behavioural data in real-time to enhance the customer experience on the phone, which helps increase sales and repeat business.

 

ResponseTap, which employs over 50 staff at its headquarters in Salford, also has offices in London and Atlanta, US and a network of over 700 resellers.

 

Will Clark of Enterprise Ventures, which manages The North West Fund for Mezzanine, said: "Call-based marketing automation is a fast developing sector. As companies seek to reach a more targeted audience, this type of software is becoming integral to their marketing efforts as it allows them to provide a superior experience for customers, identify their needs and turn browsers into buyers. ResponseTap has become a leader in its field by continually improving its technology. This funding will enable it to stay at the forefront by helping to accelerate the development of even more advanced systems."

 

Jonathan Robinson and Nick Hawthorne at DWF provided legal advice to the Fund, while the company was advised by Tom Hall of Pannone Corporate.  

 

The North West Fund for Mezzanine is part of the £155m North West Fund and is financed jointly by the European Regional Development Fund and the European Investment Bank.

 

 

 


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