Sales & Marketing Automation Start-up Novocall Raises $700k in Seed Funding from Silicon-Valley-based Venture Fund 500 Startups
SINGAPORE, 11 Mar 2020 – Singapore-grown start-up, Novocall, today announced it has raised a seed investment round totaling S$700,000. The investment will go towards the company’s expansion plans.
The round was led by Silicon Valley-based venture firm 500 Startups’ Southeast Asia focused 500 Durians fund, with co-investors from 500 Startups Thailand, Expara Asia Ventures and angel investors that include Exabytes’ founder and CEO Chan Kee Siak.
Novocall is a conversational sales & marketing automation software that helps companies improve lead response time, increase website conversions, and provide actionable analytics for marketing teams. It was founded in January 2018 by three Singapore University of Technology and Design (SUTD) alumni – Huang Jing Jie, Jionghan Ng and Amos Choo.
The idea came from Amos, the CTO of Novocall, when he was interning at one of the telecom companies in Singapore. He realised that the customer experience was one that would frustrate even the most patient caller, with long wait times and technology that was dated, impersonal and inefficient. Amos reached out to his schoolmates and they built a sales automation software in four months. The software was able to automate calls and generate attributable data for marketing campaigns, helping businesses reduce sales call friction and increase digital conversions.
Co-founder and CEO, Huang Jing Jie shares, “Novocall’s platform automates calls and follow-ups with prospects instantly while providing complete attribution of call leads over marketing channels. This helps sales and marketing teams drive more pipelines from the same traffic.” Novocall’s benefits for clients have been direct and measurable, with companies reporting an average of 30% increase in sales opportunities without an additional increase in marketing spend, within 1 month of usage.
Novocall’s solution is strongly welcomed by the small-medium enterprise (SME) industry, particularly in the education and travel sectors, which are often lagging in terms of digital transformation for their sales processes. Novocall is also a recipient of the Singapore Tourism Board (STB)’s Business Innovation Fund; the company is building a customised solution to help travel agencies automate their sales processes.
Today, Novocall is used across 42 countries globally, by over 2,000 businesses (including 50 from Singapore and Malaysia), who have clocked over 400,000 minutes on its platform through 100,000 calls.
“Novocall’s sales automation product is empowering underserved businesses with the ability to both significantly reduce sales overheads and increase lead generation and conversion. Their one-click solution makes integration effortless,” said Vishal Harnal, General Partner at 500 Startups.
“We started using Novocall in 2019. After trying it out, we found out that our clients are getting much better results in terms of conversations and leads. We can better improve our clients’ ad campaigns and drive stronger results for them,” said Terence Sim, founder of iClick Media.
Novocall has previously received grant funding of S$30K from Enterprise Singapore’s SG Founder Grant in partnership with SMU’s Business Innovation Generator (BIG).
Novocall is supported by SMU BIG and the SUTD’s Entrepreneurship Centre. They have also gone through an acceleration programme with UOB-Finlab. Through this funding round, Novocall will be able to accelerate its product and customer development. While the company currently has clients in Singapore and Malaysia, there are plans to expand in the region, particularly in Indonesia and Thailand.
Huang concludes, “with the digital transformation of sales and marketing communications workflows well underway, Novocall presents the vision of reinvented call solutions of tomorrow, today.”
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