SOURCE: Experticity

May 02, 2007 09:00 ET

Experticity Closes $2.7 Million in Series A Round of Funding

Portland Trust Ltd. and Jammbid Partners LLC Lead Investment in Pioneering Service Technology Provider

SEATTLE, WA -- (MARKET WIRE) -- May 2, 2007 -- Experticity, the pioneer of live video-assisted customer support solutions for service and retail industries, today announced that it has closed its Series A round of funding. The $2.7 million investment was led by Portland Trust Ltd. and Jammbid Partners, two private investment groups that invest in early-stage technology companies. Proceeds from the financing will be used to further fund development of its flagship Experticity platform, expand its sales and marketing channel, and invest in new technology offerings such as 'Experticity in-home' customer service applications. Experticity will immediately open up a Series B round of investment with the goal of attracting institutional and strategic investment to meet growing demand for its cutting-edge service technology solutions.

"Retail and other service industries are recognizing the need to embrace new technologies in order to thrive in today's customer focused environment. We believe that Experticity is blazing the trail which others will follow," said Stephen Murdoch, Senior Adviser of Florida-based Portland Trust. "We invested in Experticity because we have confidence both in their management team and believe that there is a fundamental problem with today's service environment. Consumers are clearly losing patience with deteriorating customer service levels, and retailers and other service providers are losing sales and customers. This is a clear solution to a large and growing pain."

Experticity empowers retailers and other service providers to do more with less by integrating its Experticity software platform to serve up expert customer assistance via two-way, video and data enabled customer service stations. Staffed by a retailer's best and most knowledgeable sales associates, Experticity enables retailers to distribute customer service and sales associates to multiple retail stores, improving service levels and opening up new opportunities to sell more specialized products and services. Currently being rolled out by several major retailers in the U.S., Canada, and Europe, retailers are adopting Experticity as a way to better serve today's more informed consumer who now has more shopping options, less time, and less patience.

"Experticity is ushering in a new era of customer service, helping customers get the service they demand while providing retailers and service providers with a cost-effective way to improve customer satisfaction and grow sales," said DL Baron, founder of Experticity. "This investment is both a validation of our business model and a testament to the fact that service providers must evolve new ways of serving customers."

About Experticity

Headquartered in Seattle, Washington, Experticity is the pioneer of live on-screen expert staffing technologies and has been developing remote service solutions for the retail and hospitality industry since 2005. Experticity's patent-pending, proprietary right-staffing technology enables companies to load-balance live customer service staff from a remote location to service front-lines, using real-time, two-way video, audio, and data screens to provide customers with a personalized, one-on-one service experience.

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