Insight Partners and Peak provide funding and guidance to accelerate triple-digit international growth, attract new talent and further develop the platform
Trengo, the Dutch omnichannel communications platform, announces raising $36 million in a Series A funding from New York-based global private equity and venture capital firm Insight Partners and Peak. The funding is aimed at accelerating international expansion, attracting talent and fueling further development of the technology-driven omnichannel communication platform.
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Trengo’s innovative platform combines all communication channels in one environment, boosting customer service and the internal team collaboration of organizations.
In the past year, Trengo tripled its customer base from 700 to 2,000 customers including Europcar, Yobbers, OPPO and Pon Porsche Dealergroep, processing more than 12,5 million messages per month for more than 20.000 users. The innovative scaleup has grown from twelve to seventy employees in one year and is expected to grow to 200 employees by 2022. The Series A funding provides the organization with a solid foundation, to search for talent while increasing sales & marketing and software development. The organization plans to open a new office hub in Utrecht to facilitate its growth this year.
“At Trengo, we aim to break the status quo of the market for business communications platforms. With this Series A funding, we have even more capabilities to strengthen our growth and innovation power to help businesses and people thrive globally,” said Patrick Meutzner, CEO and founder of Trengo. “Our platform raises the bar for customer satisfaction and team collaboration worldwide. Enabling organizations with an easier, more efficient and more consistent way for all their communications.”
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“Trengo stands out with its collaborative interface and intuitive design. Its customers have embraced the communication platform and we see great potential in the company,” said Whitney Bouck, Advisor to Insight Partners and COO at Dropbox/Hellosign. She continues, “We look forward to our partnership and their next chapter of growth.
“As a selected participant in the Techleap Compass program, I congratulate Trengo with their series A investment. This shows that their ambition to become a global player in platform communication is coming to fruition,” says Prince Constantijn van Oranje, Special Envoy at Techleap.
“Since our initial investment in February 2020, the company has grown tremendously from 12 employees to 70, and revenue growth has followed a similar growth trajectory. We are delighted to continue supporting the Trengo team on their incredible journey.” Says Stefan Bary, Managing Partner Peak.
The pace of digital transformation in business communications and the development of new communication channels is daunting, creating overload, chaos, inefficiency and stress. Increased remote working conditions put pressure on alignment within teams. Companies, and especially SMEs, struggle to keep up. The Trengo platform helps companies improve communications with customers and teams, leading to increased productivity, sales and customer satisfaction.
The market for business communication platforms is currently undergoing tremendous development. There is a significant increase in emerging customer channels (for example, WhatsApp Business, Instagram Direct Message and Google Business Messages), while customers expect better and faster online service. Meanwhile, employees collaborate from different locations, experiencing great frustration from constantly switching between tools and channels to collaborate. Trengo’s omnichannel communication platform is an affordable, intuitive and easy to implement platform that aggregates all features, apps and tools into one screen. It merges CRM, social channels and communication tools, resulting in an easy, efficient and consistent way to improve customer satisfaction and productivity.
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