Textel Announces $4 Million Series A Funding Round Led by Cultivation Capital Partners
Texting platform for contact centers plans to expand sales efforts, marketing and deepen product functionality
ST. LOUIS, October 20, 2020-- Textel, the cloud-based texting platform for contact centers, announced it recently completed a $4M Series A funding round. Cultivation Capital led the round with additional investment from Stout Street Capital and Capital Midwest Fund III. This latest funding round brings Textel’s total funds raised to $5M and accelerates their plans to drive additional partner sales and marketing. Textel will also use the funds to deliver on additional product functionality.
Cultivation Capital manages a family of funds focused on early stage investing with brands that have achieved measurable milestones, and have product, revenue, and traction. Considered one of the most active early stage venture firms in North America, Cultivation Capital currently manages over 145 different brands including brands like Sharpen and Benchmark.
The Series A funding comes at an exciting time for Textel who continues to gain significant traction with customers in the enterprise contact center market through its integrations with leading contact center as a service (CCaaS) solutions like NICE inContact and Genesys®. Textel doubled its employee headcount from last year and is looking to fill additional roles in the coming months.
“Contact centers are clamoring for ways to reduce call volumes and increase agent efficiency. Textel’s texting platform not only provides a better channel for communication, it also provides additional tools to improve the customer experience. We’re impressed with the amazing work done by Textel in finding a simple yet highly impactful way to connect businesses to their customers,” said Paul Weber, Venture Partner at Cultivation Capital and member of Textel’s board of directors.
Textel works seamlessly within the NICE inContact and Genesys environments by routing incoming text messages to an available SMS-proficient agent utilizing their chat window who can then text right back. Teams can also send outbound texts on an ad hoc basis or using event-based triggers.
“Our latest round of funding will help us tremendously to reach our goal to deliver a feature rich texting platform. Contact centers need it, their customers already expect it, and we’re prepared to get them there,” said James Diel, Founder and CEO of Textel.
To learn more about Textel and its platform, visit textel.net.
Founded in 2014, Textel provides a texting platform for contact centers that is specifically designed to improve the customer experience, increase customer engagement, improve contact center performance and efficiency and drive revenue. With nearly 800 customers across North America, Textel is the texting platform for organizations who want to communicate with customers faster and more efficiently than traditional channels (email, voice, chat), improve the customer experience, and positively impact the KPIs of the contact center. To learn more, visit www.textel.net.
About Cultivation Capital Partners:
Cultivation Capital is an early-stage venture capital firm investing in software technology, life sciences, and agriculture technology companies. Since its founding in 2012, the firm has invested in over 150 companies and is recognized as one of the most active early-stage investors in the United States. For more information, visit https://cultivationcapital.com.
About Stout Street Capital:
Stout Street Capital is a Denver based seed-stage fund that seeks to invest in early-stage companies focused on improving efficiency and generating bottom-line value in large established sectors in the market. The firm has funded over 45 startups over two funds. Visit https://stoutstreetcapital.com/.
About Capital Midwest Fund III (Milwaukee, Wisconsin):
Capital Midwest Fund invests in revenue-stage Central United States companies providing customer-centric, problem-solving, business-to-business technology solutions, including software, services, and products, with specific emphasis on industrial, manufacturing, and healthcare markets. Visit https://www.capitalmidwest.com/.
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