Lightico Raises $13m to Consumerize Legacy eSign and Streamline B2C Digital Customer Journeys
Posted on Nov 10, 2020 by Howard Schulman
- Demand for remote technologies for B2C industries has skyrocketed as companies scramble towards a fully digital and remote reality
- The digital signature market alone is projected to reach $24bn by 2030
- The company’s platform streamlines the entire customer journey, not just an esignature on an agreement
- The platform has significant adoption in financial services, insurance and telco
- Lightico has marked 3x YoY Growth since 2017
- This round, led by Oxx, with participation from Capital One Ventures, Harmony Partners and existing investors, takes total funding raised to $27m
New York, NY, Nov 10, 2020 – Lightico, leader of next-generation digital customer interactions, announced today a $13 million investment led by Oxx, with participation from Capital One Ventures and Harmony Partners, to accelerate adoption of its digital customer interaction platform and bringing its total amount raised to $27 million. Joining the round are previous Lightico investors, lool Ventures, Crescendo Venture Partners, Mangrove Capital Partners, and Spinach Angels.
The financing follows unprecedented, urgent demand for and adoption of end-to-end digital transformation. According to a McKinsey study, companies are accelerating their digitization plans by an average of seven years as a result of the pandemic. The new capital will fuel the company’s scale, growing its customer base of mid to large enterprises, and enable the company to deliver an even more robust platform for digitizing customer journeys. Traditional eSignature solutions are limited to B2B document management processes, operating as a disconnected point solution. Lightico equips B2C businesses with an easily customizable, modern and mobile-first platform that integrates seamlessly into existing workflows, and can complete entire customer journeys from end-to-end, simply and in real-time.
For example, bank loans and insurance claims can be processed quickly and securely using Lightico’s customer interaction platform. Lightico creates a virtual collaboration window between the business and their client. The client can then access the collaboration window easily and securely on their mobile device, where they can share and receive documents, and process eSignatures, payments, identification and verification (ID&V) and more.
“The hardships of the past several months have challenged us all but they have also been an incredible catalyst for digital transformation across industries,” said Zviki Ben Ishay, co-founder and CEO of Lightico. “This investment isn’t just fuel for continued growth, but a strong vote of confidence in Lightico’s mobile-first platform and model that thrived during a challenging first half of 2020. We’re proud to have such incredible partners joining our mission of making business interactions simple and digital in a complex world.”
Lightico helps its clients improve customer experience and efficiency, through faster turnaround times, higher completion rates, and higher NPS––significantly impacting bottom-line results. Clients include leading financial institutions, insurance providers, including companies like Capital One and GlaxoSmithKline. The solution integrates into businesses via an open API or through integrations into business systems like Salesforce and Nice InContact.
“In today’s world, best-in-class remote customer service has never been more important––and Lightico is essential for providing it,” said Richard Anton, General Partner at Oxx. “Lightico is much more than a ‘contract management’ solution. It solves the entire ‘last mile’ problem, allowing all the processes involved in customer transactions to be fulfilled completely digitally, in a frictionless and very user-friendly way. The Lightico team has created a strong platform for further growth and we’re thrilled to join Zviki and his superb team at this next stage of the journey.”
“Be it through our award-winning mobile app or cutting edge virtual assistant, Eno, Capital One is at the forefront of meeting customers where they are,” said Adam Boutin, Partner at Capital One Ventures. “COVID-19 has heightened the need for digitization in financial services and Lightico has helped us meet these challenges by providing an agile and seamless platform to quickly digitize servicing workflows. By investing in Lightico we are recognizing the value of this partnership and continuing to support innovation in customer experience.”
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About Lightico
Lightico is an award-winning SaaS platform for customer interactions that digitally transforms millions of connections between businesses and their customers. With Lightico, sales and service agents can instantly collect customer documents, eSignatures, payments, and verify ID in real-time––straight from the customers’ cell phones. Hundreds of enterprise businesses rely on Lightico to accelerate sales cycles and service their customers effortlessly, earning customer trust and loyalty, translating to higher profits.
For more information, please visit www.lightico.com
About Oxx
Oxx is a specialist B2B software investor, partnering with the most promising European SaaS scale-ups from series A and beyond. The venture capital fund invests across software applications and infrastructure, with a particular interest in five key themes: data convergence & refinery, the future of work, financial services infrastructure, user empowerment and sustainable business. Earlier this year Oxx announced a new fund, having raised $133m. Headquartered in London and Stockholm, Oxx was founded by Richard Anton and Mikael Johnsson in 2017.
For more information, please visit www.oxx.vc