Spoke Phone raises $7m in Series A funding
The year has started with a bang for one Kiwi tech start up. Phone service start-up Spoke Phone has raised $7 million in its Series A funding round.
The company is targeting the small to medium-sized enterprise market with an app that offers mobile users the same feature set that traditionally has been available only to corporate desk jockeys - group calling, call forwarding, voicemail to text and other features.
The funding was largely provided by Australian venture capital firm Marbruck Investments, which now has 29% of the company, and original investor Icehouse Ventures in its joint investment deal with Stephen Tindall's K1W1 fund, which now has 28% of the company.
Set up in 2016, co-founders Jason Kerr and Kieron Lawson say they built Spoke Phone because they saw a "mobile-first" future for business users.
"With 50% of the workforce expected to be mobile or remote by 2025, enterprises need to enable workers with fully-integrated mobile-first business tools," says Kerr on the company website.
Existing customers include Netball New Zealand, book seller Dymocks in Australia, and Raymond James Financial Services in the US,
The company will use the funds to expanding into the United States and Australian markets, and to develop a new solution to help enterprise customers migrate away from legacy systems.
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