Fizzback raises £1.6M million

Driving customer engagement, UK company to expand further into Europe and the US

Fizzback, provider of a customer engagement solution for businesses, has raised £1.6 million (about $2.6 million) in new venture capital. Led by international investment team Nauta Capital, the Series B round of fundraising saw the return of previous backer Advent Venture Partners, a Europe-based venture capital firm.

Aimed at improving relationships between businesses and customers, Fizzback provides a comprehensive customer engagement solution that works on four fundamental levels of interaction. After collecting survey data from customers via a wealth of avenues, Fizzback employs a seemingly complex array of artificial intelligence tools to analyze and report on consumer needs. These analyses help Fizzback recommend to its client the best choice for action to respond to customer feedback.

The UK company has already seen widespread acceptance of its program by retail and telecommunications companies, like Tesco, T-Mobile, The Carphone Warehouse, and Phones 4u. In early August, Fizzback was happy to announce that Marks & Spencer, the largest clothing retailer in the UK and the 43rd largest in the world, had adopted Fizzback's platform.

The latest funds raised will be used by Fizzback to further its expansion throughout continental Europe and the United States.

Rob Keve, founder and CEO of Fizzback sees the company's partnerships founded in this new deal forecasting success for the small company: "Nauta Capital brings a powerful combination of sector expertise and industry contacts, alongside their funding, which is already providing access to new market opportunities. Advent Ventures’ follow-on investment, builds on our already close partnership, and is a testament to their belief in our ability to continue to build a highly successful business."

Back in October 2006, Advent Venture Partners led a £2.5 million round for Fizzback.