Trengo, a European customer service platform, has recently closed its Series A funding round of $36 million. Founded in 2018 by CEO Wisse Hettinga and CTO Tom Kooijman, Trengo provides a unified customer service platform that helps to bring customer service teams together across different communication channels such as chat and email.
This Series A funding round was led by Battery Ventures with participation from active earlier backers Prime Ventures and INKEF. This latest funding will help the company expand its presence in Europe and continue to grow its presence throughout the region and beyond. In addition, the money will go towards developing new features for the Trengo platform, building additional integrations with other systems, investing in smarter automation technologies, and expanding staffing in sales, engineering and customer success departments.
Background
Trengo, a collaboration platform providing a fully integrated customer service solution, recently raised $36M in Series A funding led by Stripes Group and participated by existing investors including Index Ventures.
Founded in 2016 by Bob Hoekstra, Angelique Schouten, and Koen Droste, Trengo’s mission is to empower modern customer service teams to provide great customer experiences at a fraction of the cost.
The platform offers shared inboxes, team chat, task automation, customer service analytics, and an integrated knowledge base for support teams.
Company Overview
Trengo is a customer service software provider that enables teams to better manage customer queries and conversation across multiple channels. The company’s unified inbox allows agents to respond fast while keeping conversations organized and on track at the same time.
The company was founded in 2015 in Amsterdam by Rob van der Hoorn, Maxim Hillemsand Tjerk Bremmer and is backed by investors such as Prime Ventures, Global Founders Capital and HenQ Invest. The latest funding round comes less than a year after closing their series Seed investment which raised $4 million in April 2019.
The startup aims to help companies become more customer-centric by transforming how they communicate with customers through technology; this new round of funding will provide the resources needed to help Trengo accomplish this goal. With this new capital, Trengo aims to expand its international presence further, making its platform available to more businesses worldwide. In addition, they might look into expanding their product or launching new services or features which could boost their success even further.
Overview of Funding Round
Trengo, a customer service platform, has secured $36M in Series A funding from Accel, Naspers Foundry, uWHY Valley Ventures, and other investors. This investment will accelerate product innovation to meet the needs of mid-sized and international businesses.
The round was led by Accel and bolstered by Naspers Foundry and uWHY Valley Ventures. The round also includes investments from Samaipata Ventures, TI Platform Management (the new Nesthor Qunitana-led fund focused on late-stage startups), Prime Ventures and others.
Trengo’s combined customer experience provides a one-stop shop for businesses looking to improve customer service across multiple channels. The platform combines collaboration tools with intelligent routing to enable teams to respond quickly and accurately across channels like chatbot conversations, WhatsApp messages and SMS. It also offers deeper insights into performance through Trengo Analytics to keep customers engaged while training agents to develop new skills over time.
With this new Series A funding, Trengo plans to enhance its suite of products including developing powerful automation capabilities for mid-sized companies and expanding its global market presence into the US market later this year. Additionally, with this funding module’s help, Trengo will further accelerate its investment in product innovation with an emphasis on artificial intelligence capabilities that will help streamline workflows and improve customer experiences globally.
Details of the Funding Round
Business messaging platform Trengo announced this week that it has raised $36M in a Series A funding round led by TA Ventures, a London-based venture capital firm. The funding round also included participation from existing investors such as EQT Ventures, KPN Ventures and Point 9 Capital.
Further details of the funding round were not disclosed.
Investors
The Series A funding round for Trengo, an all-in-one platform for customer service, was led by a consortium of global investors including Insight Partners, e.ventures and White Star Capital.
The new funding pushes the total amount of capital raised to date by Trengo past $50M and will be used to further develop its all-in-one customer service platform. This includes expanding its existing products, launching new features and building its teams globally.
Since the release of Trengo 1.0 in 2018, the platform has become a market leader in all-in-one customer service software, handling over 5 million monthly conversations for organizations spread across 90 countries.
Insight Partners General Partner Jeff Horing said: “Trengo is ushering in a transition from software silos that don’t integrate to an integrated solution that offers more than one capability — Intuitive interface design allows nontechnical staff to setup complex workflows without additional support eliminating implementation and integration headaches.”
e.ventures Managing Director Tom Mendoza added: “What attracted us most is how well their product meets even the most complex customer service needs without needing significantly more engineering or ongoing maintenance costs on top of that.”
Mark Tluszcz and Nick Beighton of White Star Capital concluded the discussion with Mark noting “White Star Capital has been following this space closely over the last 10 years.We are excited about participating in this Round given our belief in Trengo’s product team and our long standing commitment to supporting innovative companies who look to developed world markets as primary target customers.”
Use of Funds
Trengo, a customer service and collaboration platform, has recently closed a round of Series A investment, raising $36 million led by Parabellum Capital. This is the first institutional round of capital for the Dutch startup.
The funding will reinforce Trengo’s position as Europe’s leading customer service and collaboration platform and further develop its mobile capabilities. The funds will also allow Trengo to strengthen its partnerships with organizations across different sectors such as healthcare, education, finance, and insurance industries.
Trengo plans to use the new funds to further expand their customer success team and hire additional engineers to help build their mobile offerings.
Additionally, they are planning to open new offices in countries such as Germany and France to expand their local presence in Europe as well as other global markets like Asia Pacific and Latin America.
Impact of the Funding
The Series A funding of $36M raised by the Trengo platform was a major milestone in the company’s journey. This investment will provide the necessary resources to accelerate their growth, help expand their product offering, and reach new markets.
The impact of this funding on Trengo’s development will be wide-reaching and is expected to have lasting effects on the company’s success.
Expansion Plans
The $36M in Series A funding raised by Trengo will bring greater stability, innovation and job opportunities over the coming years. In addition, it will help Trengo increase their product development, expand their international presence and hire top talent to support their rapid growth.
The funding announced by Trengo is set to lead the way for an improved chat and customer service solution that prioritizes customer experience, giving companies the tools they need to provide proactive customer service worldwide across industries.
Furthermore, it will assist in global expansion plans for Trengo as it works with various agencies to increase marketing of its chat platform and software products. This funding will further allow them to strengthen their customer care training program and diversify its product offering, including integrations with leading CRM systems.
Finally, this investment allows Trengo to continue providing jobs in Amsterdam, London and Boston plus offer more people career opportunities at their organisation.
