Octopus Ventures led a $14.5 million funding round for Pendula in August 2023.
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This was a Series C round and other investors in the round included MA Growth Ventures, AirTree Ventures, and Skip Capital.
Pendula is a Sydney-based customer communications platform that uses AI and machine learning to help businesses create personalized and engaging customer experiences.
The company’s platform helps businesses to automate their customer communications, improve customer satisfaction, and reduce churn.
Octopus Ventures is a London-based venture capital firm that invests in early-stage technology companies.
The firm has a strong track record of investing in successful startups, including Revolut, Graze, and Zoopla.
The funding from Octopus Ventures will be used by Pendula to expand its product offerings, grow its team, and enter new markets. The company plans to use the funding to expand into Europe and Southeast Asia.
In a statement, Alex Colvin, the CEO of Pendula, said that the funding from Octopus Ventures is a “significant vote of confidence” in the company’s technology and its growth potential. He said that the funding will help Pendula to “accelerate our mission to help businesses create world-class customer experiences.”
The funding round for Pendula is a sign of the growing interest in customer experience technology.
As businesses compete for customers in an increasingly crowded marketplace, they are looking for ways to differentiate themselves through personalized and engaging customer experiences. Pendula’s platform is well-positioned to help businesses meet this demand.
