Lightico raises $14.5 million to help businesses complete transactions over the phone

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Lightico, a Tel Aviv- and New York-based startup developing contact center customer collaboration software, today announced a $14.5 million investment led by Mangrove Capital Partners. Lool Ventures, Spinach Angels, and Crescendo also participated in the round, which founder and CEO Zviki Ben-Ishay said will help to expand the company’s global presence and accelerate product development.

“By simplifying collaboration between businesses and their customers, Lightico makes businesses more profitable, customers more loyal and agents more motivated,” said Ben-Ishay, who cofounded Lightico in 2014 with CTO Justin Josh and COO Omri Braun. “Our streamlined digital transactions provide human touch points and a frictionless customer experience built for the next generation of consumers.”

Lightico’s suite of micro-apps, as it calls them, facilitate a range of over-the-phone customer transaction types. Managers can create workflows from a cloud-hosted dashboard to streamline steps across channels like call centers, websites, mobile apps, and retail point-of-sales systems. In addition to collecting electronic signatures and documents (like photos and IDs), processing mobile forms, and performing identity verification, the platform can share billing statements and policies with call center staff in real time, ostensibly fast-tracking sales and troubleshooting.

Lightico

According to Lightico, the average customer sees a 96% uptick in first-time transaction completion, a 25% improvement in first-time call resolution, and a 20% boost in overall payment completion rates.

Lightico’s products connect with customer relationship management platforms and agent toolbars from Salesforce, Zoho, Sapients, Novidea, and Amdocs, as well as contact center solutions from Genesys, Nice, and Talkdesk. And where compliance and security are concerned, Lightico natively supports features like single sign-on, password policies, user roles and permissions, real-time data replication, penetration testing, IP login restrictions, and more.

The company must be doing something right. Last year, employee headcount and revenue quadrupled and quintupled, respectively, coinciding with the growth of its customer base to more than 250 telecommunications, financial, and insurance companies. Moreover, Lightico claims that its technology — which has received more than 10 awards and recognitions, including Amdoc’s Best Partner in Digital Domain — currently services “millions” of consumers.

“Lightico has an unparalleled understanding of what today’s businesses need and tomorrow’s customers want. Its cutting-edge technology simplifies complex processes to speed up and secure the transactions that often stall business,” said Mangrove Capital Partners partner Roy Saar. “Customer experience is quickly becoming the differentiator between companies that excel and companies that dissolve in the Digital Age. Lightico’s rapid growth and unique product offerings make it a standout player in the industry, and we’re excited to support their continued success.”

Source: VentureBeat

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