NEWS16 October 2009

Fizzback taps venture capital firm in £1.6m funding round

AI Financials UK

UK— Customer engagement and feedback analytics firm Fizzback has secured £1.6m in funding in a financing round led by Nauta Capital with participation from existing investor Advent Venture Partners.

The company says it will use the money to continue its push into Continental Europe and the US.

Fizzback’s service captures customer feedback through text messages, email, voice, web and comment cards. That information is then run through an “artificial intelligence engine” which uses natural language processing to categorise comments by sentiment, subject and location.

Once processed, data is fed into a dashboard where it can be analysed and shared with customer service teams and other parts of a client’s business. Users of Fizzback include Tesco, T-Mobile, The Carphone Warehouse, Phones4u and Marks & Spencer.

The company raised £2.5m in funding three years ago. Founder and CEO Rob Keve said this week: “I am delighted to welcome Nauta Capital into the Fizzback fold. Selecting the right partner at this important juncture for Fizzback was crucial.”

Keve (pictured) said Nauta’s technology sector expertise, industry contacts and funding is “already providing access to new market opportunities”.