NANTES, France & BOSTON--(BUSINESS WIRE)--iAdvize, the European leader in conversational marketing, announces a $38M Series C round with participation from Idinvest Partners, Bpifrance via Large Venture and Quadrille Capital. Total funding to date is $56M.
Additionally, they are opening their first U.S. office in Boston, MA where the team will be comprised of sales and marketing teams to secure its footprint in the U.S. Headed by Nicolas de Rosen, they chose Boston to be closer to their already established partners and growing network.
“Today, iAdvize is the European leader in conversational marketing. Our initial $18 Series B funding has helped us open our European offices and launch a major new offering, ibbü, the on-demand pool of experts. These savvy enthusiasts generate one million euros in revenue per week for our customers.
“This new Series C funding round gives us the means to maintain a strong pace of growth while reinforcing our presence in Europe and efficiently expanding our activity in the U.S. Our aim is to become a global leader in Conversational Marketing,” says Julien Hervouët, CEO of iAdvize.
Created in 2010 by Julien Hervouët, iAdvize is now the European leader in Conversational Marketing. Used by more than 600 businesses across 60 different countries around the world, the iAdvize Conversational Marketing platform enables businesses to engage their customers and prospects who need advice and support and offer them the best response from paid advocates members of the ibbü community, a chatbot or their own customer service team.
This Series C funding will enable iAdvize to boost its development in these main areas:
- Expanding presence in the U.S. market with Boston office opening;
- Reinforcing European leader status by growing teams based in London, Düsseldorf, Madrid and Nantes (headquarters);
- Growing global staff to 250+ by 2020;
- Bolstering research and development resources for core products and services;
- Developing ibbü’s market strategy roadmap, which offers on-demand pool of experts.
Alban Wyniecki, Investment Director at Idinvest Partners adds, “The iAdvize team quickly understood the challenges and potential of international growth in order to reinforce its European leading position and be among the international leaders. Moreover, we think there is a real demand in the US market for a modern conversational marketing software coupled with a community of advocates which enables brands to implement a system of on-demand contacts. That’s why we think iAdvize is well positioned on this continent to tackle and replace historical market players whose solutions are now aging.”
Bringing their proven full-stack platform for customer interactions to the U.S. market, the service includes both technology and human resources. The platform offers:
- Big data analysis to provide predictive targeting and answers to high-value contacts in real-time
- Cross-channel and multi-device connections through websites, social media, messaging apps and SMS
- Intelligent routing system providing high language, skills and level of expertise
Plus the unique live, real-time community called ibbü, an on-demand pool of experts who advises customers and prospects online. To highlight:
- 100,000+ customers monthly have interacted with customers and achieved a 90% customer satisfaction rate
- 12,000+ enthusiasts have expressed their desire to join the ibbü community since its launch
- In less than a year, more than 50 companies in Europe including large companies such as Sardegna.com, Cdiscount, Point.P, ManoMano, EDF, Mister Auto, Materiel.net, Voyages-sncf.com or IKKS.
Additionally, Jean Bertin, Large Venture Investment Director at Bpifrance states, “We’ve been particularly impressed by iAdvize’s product vision and its capacity to constantly innovate to differentiate itself from others. Bpifrance entered into a joint venture with le Fonds Ambition Numérique in 2015 to finance the ibbü launch. Today, we are renewing our support to help iAdvize with it’s business growth and R&D efforts. Now, iAdvize is working on artificial intelligence by optimising the targeting of visitors in real-time, increasing the agents’ handling capacity and turning their customers’ chatbot strategies into a reality.”
iAdvize is a conversational marketing platform which enables businesses to engage their customers and prospects on any website or applications with one single messaging solution (chat, voice, video). Visitors are offered real-time advice from customer service and advocates from the brand community via ibbü, the on-demand pool of experts.
Created in 2010 and ranked as a Great Place to Work in France, iAdvize achieves an average annual growth of 100%, with more than 600 brand customers across the world and across all sectors from eCommerce, luxury, tourism to finance. Clients include Disney, BMW, Michelin, House of Fraser, Air France, TUI, BMW, Interflora, Axa or Cdiscount.
With more than €8 billion under management, Idinvest Partners is a leading pan-European private equity firm focused on the mid-market segment. Idinvest Partners has developed several complementary areas of expertise including: investments in innovative European start-ups; mid-market direct lending (unitranche, senior loans and junior financing); primary and secondary investments in unlisted European companies, and private equity consulting. Founded under the name AGF Private Equity in 1997, Idinvest Partners was formerly part of Allianz until 2010 when it became an independent firm.
Equity investment are operated by Bpifrance Investissement. Bpifrance, a subsidiary of the French state and the Caisse des Dépôts and the entrepreneurs’ trusted partner, finances businesses from the seed phase to IPO, through loans, guarantees and equity investments. Bpifrance also provides operational services and strong support for innovation, export, and external growth in partnership with Business France.
With its 48 regional offices, businesses benefit from a powerful, efficient and close representative, to answer all their needs in terms of financing, innovation and investment.
More information: www.bpifrance.fr Twitter: @bpifrance / @bpifrancepresse