Thursday, September 21, 2023
Tech ObserverNewsStartupsSharpen Technologies raises $15 million in growth capital

Sharpen Technologies raises $15 million in growth capital

which deals in omni-channel cloud contact center platform said that it has raised $15 million in capital growth funding from investors including , Cultivation Capital, Elevate Ventures, , Collina Ventures, IU PhV, F&M Investment Office LLC, and Lightchain LLC, the family office of Rodger Riney, founder and former CEO of Scottrade.

“Sharpen's unique approach to omni-channel communications, combined with its agent-first focus and reliable platform give the company a strong advantage in the fast-growing cloud contact center market,” said Chris LaMothe, CEO for Elevate Ventures. “We previously invested in Sharpen because of its high-growth potential and we're proud to continue our support of the team while helping the company take advantage of this immense market opportunity.”

In 2018, Sharpen increased its new contract dollar amount by 700 percent and increased booked annual recurring revenues by 150 percent over the previous year. It also increased its contact center customer count by 80 percent over 2017, said the company.

The company's executive team consists of Mike Simmons, chairman and CEO; Ashley Vukovits, consulting chief financial officer; Pam Hynes, chief operating officer; Kevin Schatz, chief technology officer; and Ty Baldwin, chief revenue officer.

Simmons has 25 years of experience leading fast-growing tech companies. He was the founder and CEO of T2 Systems, a high-growth software and technology firm that grew to more than 300 employees before being acquired by Thoma Bravo in 2016.

Vukovits brings more than 25 years of accounting, finance and leadership experience, along with 16 years working in the tech sector. Hynes, previously served as Sharpen's vice president of client experience, brings 30-plus years of expertise helping tech companies develop and maintain industry-leading customer programs. Schatz has 13 years of expertise leading customer experience and tech projects within the contact center market, while Baldwin brings nearly 30 years of tech sales and sales management experience.

Joining Sharpen's board of directors is David Kerr of Allos Ventures LLC. Existing company board members include Mike Simmons, Paul Weber representing Cultivation Capital, and Ting Gootee from Elevate Ventures.

“With customer service now one of the most important competitive differentiators across virtually all industries, Sharpen is in a prime position to accelerate growth,” said David Kerr, managing director for Allos Ventures LLC. “It offers an incredibly mature cloud-native contact center platform that includes all the functionality necessary to create superior customer experiences at an affordable cost.”

“Our latest round of funding will help us continue the momentum we achieved in 2018 by further growing our sales team, extending our market reach, and expanding on our already full-featured cloud contact center platform,” said Mike Simmons, Sharpen's chairman and CEO.

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