Australia's leading SAAS company to transform call centres, CloudWave raises $2M
Updated: Jun 25
CloudWave, a highly specialised cloud-based SaaS company launches NEON which aims to transform the face of modern day contact centres (once known as call centres) by helping companies integrate social media and other innovation into their customer help desk, has raised $2 million to accelerate its product development and to help aid its preparation to scale into Asian and US markets.
The Series A capital raise, led by investor Moelis Investment Bank, has been oversubscribed and includes other notable investors such as Vulpes Investment Management (a Singapore-based venture capital fund) and another Australian-born technology company with a focus on building and operating cloud native applications.
CloudWave CEO Michael Powrie said he realised that most companies were still relying on traditional, phone call dominant call centres to help their customers, despite many shifting to social media apps such as Twitter, Facebook, WhatsApp and chat bots when asking for assistance. Automation, AI, Machine Learning and advanced dashboards and reporting tools are included in CloudWave NEON.
“I have always envisioned a world where consumers would one day enjoy interacting with a contact centre, and equally where agents within the contact centre had access to the tools they need to provide excellent service and be happier doing their day to day job. I’m pleased to say with CloudWave NEON, this dream has become a reality,” he said.
Hugh Bickerstaff, CloudWave COO and experienced Venture Capitalist, says he joined CloudWave because of the company’s focus on positive culture, as well as the efforts it has taken to build and maintain strong relationships with employees, customers and their technology partners.
“They have leveraged those relationships to deeply understand the issues their clients are facing and love using cutting edge technologies to develop highly innovative solutions” he said.
“CloudWave has a strong product suite that customers and contact centre staff love to use. I think it is this ability to get close to their customers, listen and understand their challenges and then develop innovative and delightful solutions that people love to use. This is highly differentiated from traditional providers in the contact centre management software space”.
Managing Director at Moelis Australia’s Growth Capital Fund, Jaron Yuen, said the group was proud to support CloudWave and their founding team.
“Mike and Hugh are founders with decades of experience in delivering client-centric contact centre solutions, and in scaling technology businesses. They combine this experience with a leading cloud-native contact centre solution and an unparalleled focus on customer needs,” he said.
“The CloudWave cloud-based client communication product sits at the confluence of this broader transformation – it is an accessible and easily deployable solution across a broad size of customer.”