Investment Supercharges Existing Rapid Organic Growth and Signals 2020 Expansion Plans.
Transitiv, the open platform to unify, understand, and activate customer data, announced it has closed a $1.7 Million seed investment. The oversubscribed round was led by Vocap Investment Partners. Transitiv has already seen explosive organic growth in the latter half of 2019, with revenue and customer contract acquisition nearly tripling results for the first half of the year. The Company will use the funds to support broader market penetration, accelerate product enhancements, and hire select personnel in marketing, sales, and customer support. The round comes just weeks after Transitiv was spotlighted at Venture Atlanta 2019.
Read More: The NPD Group Profiles The 2019 US Holiday Shopper By Generation
“We’re delighted to partner with fellow Atlanta-based Vocap Partners for our early funding. Being chosen by a local venture firm comprised of proven, successful entrepreneurs and investors is a true honor, and we look forward to collaborating with their experienced and valuable team,” said Christian Pillat, co-CEO of Transitiv. “We had a lot of investment interest, but ultimately wanted to align ourselves with a value-add partner that brought more to the table than money. The insights and experience of the Vocap team will accelerate our growth and help us develop an all-star internal team,” he added.
“Over the last year of interacting with the Company, our respect for the founding team’s domain and technical expertise has continued to grow. We are thrilled to partner with this fun group of passionate entrepreneurs to capitalize on this significant opportunity in an arena we know well,” said Emery Waddell of Vocap Partners. “In a short period of time Transitiv has emerged as the go-to customer data platform for multi-location retailers and brand network businesses, as evidenced by the overwhelmingly positive market feedback to date. We look forward to helping establish the operational foundations to more aggressively scale on top of Transitiv’s strong product-market fit” Mike Becker of Vocap Partners added.
Read More: Veritone Launches AiWARE On Microsoft Azure Government To Further AI Adoption By Government Agencies
Transitiv will be expanding its team, and expects to share additional plans for their platform within the Franchise segment prior to the International Franchise Association expo in Orlando, FL in February. Much of Transitiv’s early success has been driven by franchise, automotive, and other network businesses where Transitiv’s open technology enables greater network synergy, lower waste, and local marketing control complemented by national brand insights.
Transitiv unifies customer data for Franchise and other brand network businesses to provide personalized customer experiences and media execution services. The company’s products include an AI ChatBot for online booking & customer service, site abandonment engagement tools to increase conversion rates, segmentation tools to better understand customers, attribution tools to help score marketing programs, and personalized marketing execution for Franchisees leveraging all of the franchise brands data from a single, centralized dashboard.
Vocap Investment Partners provides venture capital and operating expertise to rapidly growing technology companies in high potential verticals, including: Enterprise Software, Marketing Tech, Media and Entertainment, Consumer Internet and Healthcare IT.
Read More: Leading SugarCRM Partners Join Forces To Form Global SugarCRM Powerhouse
