CRM software provider OvationCXM lands $20m


OvationCXM, a customer experience management (CRM) software provider previously known as Boomtown, has raised $20m in a combined Series C and debt funding round.

The round was led by Telstra Ventures and saw participation from a flurry of investors such as KeyBank, JobsOhio Growth Capital Fund, Capital One Ventures, Savano Capital Partners and JumpStart Ventures.

Also taking part were Nyca Partners, CIBC Innovation Banking and Neventa Capital. Following this round, OvationCXM has raised a total of $40m since inception.

According to FinTech Futures, the new capital comes on the heels of a rebrand and ‘record growth’ with its flagship platform – CMXEngine – achieving 600% year-over-year bookings growth.

OvationCXM claims it is ‘the first CXM company solving customer experience problems in real time’ while businesses are interacting with customers.

CXMEngine combines the aggregation of internal and third-party systems, automation tools, knowledge delivery, customer journey design and multi-channel communications into one platform.

OvationCXM CEO Alfred Khan said, “The name OvationCXM more clearly defines who we are, what we do and where we are going in the future. Our CXMEngine platform is driving tremendous outcomes for our enterprise clients in customer retention, revenue growth and operating expense reduction.”

ProNavigator, a provider of a purpose-built SaaS knowledge management platform for insurance, recently raised $10m of growth financing.

The funding round was co-led by Graphite Ventures and previous investor, Luge Capital. Additional financing partners included EDC, Tactico, and CIBC Innovation Banking.

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