VCC Live secures $2.4M in Series A funding from venture capital and private equity firm PortfoLion
Budapest-based venture capital and private equity firm, PortfoLion, is investing $2.4 million in cloud contact center software provider company VCC Live through its regional private equity fund with investors OTP Bank and Eximbank. The funds will be used to accelerate product and service innovation, as well as to expand globally.
Founded by Szabolcs Tóth and Tamás Jalsovszky, VCC Live has consolidated its presence in the European market as a reliable solution for companies dealing with broad customer communications through a variety of channels, including phone, email, chat, and social media. Currently, the company has clients in more than 50 countries, and serves over 10.000 operators in total. It also works together with 20 international telecommunication partners.
“We appreciate VCC Live’s exceptional growth, strong brand and excellent reputation on the market. Its track record and product excellence underpin the potential to become the leading cloud contact center software provider in Europe,” said Jenő Nieder, Deputy CEO of PortfoLion. “We believe, VCC’s committed management team paired with PortfoLion’s extensive network, business expertise and financial aid will further accelerate the company’s international expansion and product development.”
“Thanks to our unique and cost-effective solution, many customers decide to choose our system over some of the biggest global providers,” said Szabolcs Tóth, Managing Director and Founder of VCC Live. “This success is due to our customer-driven approach in the contact center industry, and we aim to continue developing our solution with this mindset, delivering VCC Live to as many companies as possible, allowing them to leverage our system’s benefits.”
Product and service innovation has always been VCC Live’s main focus. In 2015, as a result of a strategic partnership with OTP Mobil’s Simplepay in Europe, as well as Worldpay and Checkout.com globally, VCC Live developed VCC Live Pay, the first ever cloud-based payment over-the-phone solution in the European region.
Due to the sensitivity of the data processed during payment operations, VCC Live has focused on ensuring they comply with the highest level of security standards. The company holds PCI DSS, ISO27001, and ISO22301 certificates – some of the strictest data privacy protocols in the world – allowing customers to use VCC Live Pay anytime and from anywhere in the world without having to take any internal security steps.
Since the release of VCC Live Pay, the company has continued to increase its popularity and trust among companies operating in a number of industries. Taking advantage of the growing demand for automation and self-service payment models, combined with the development of multichannel communications, VCC Live plans to dedicate part of their latest investment to tailoring its features to bring even more business value to companies operating in several industries, including telecommunications, finance, insurance, e-commerce and others.
About VCC Live:
For more than 10 years, VCC Live has been providing telecommunication technologies for companies with a CX-driven mindset. The company provides a complete and high-quality business solution for companies who need to interact with their customers via phone and/or other channels and require high-level professional communication services.
About the investor:
PortfoLion is a Budapest-based venture capital and private equity firm which is part of the OTP Group, one of the largest banking groups in the CEE region. PortfoLion provides companies with a stable financial background to facilitate their successful market entry and international expansion.
PortfoLion currently manages five funds with a total asset value of EUR 130 million with more than 20 companies in its portfolio. The fund management company partners up with companies across multiple stages primarily in the CEE & SEE region but it’s also open for investment opportunities from the whole of Europe.