CRMNEXT has announced that it’s raised $16 million in a Series B funding round. The company plans to use the funds to accelerate its global expansion efforts and start new hiring initiatives to double the size of its existing team. CRMNEXT currently has locations in 11 countries across the USA, Africa, Southeast Asia, and the Middle East. The funding was co-led by Avataar Ventures and Ascent Capital.
CRMNEXT is a global provider of a CRM and customer experience transformation platform geared toward enterprise banks and worldwide financial service providers. The company’s services can help banks and credit unions improve their productivity, customer experiences, and overall profitability. Its primary services include automating routine tasks, a centralized Customer Action Center, automated lead management, simplified workflows, and Two-Way 360, allowing users to view their customers’ holistic view.
More than one million users reportedly use the company’s platform to manage upwards of one billion customers worldwide. While most of CRMNEXT’s audience is located in Asia, the company has started to gain traction in western markets. With this round of Series B funding, the company hopes to continue to expand its global reach and invest further in its services.
Nishant Singh—CRMNEXT’s founder and CEO—made the following statement to accompany the news: “We have been able to double ARR and register our highest-ever revenue and EBITDA in FY21 at a time when most of our customers had their operations massively curtailed. In such a setting, to deliver a 150 percent net dollar retention rate speaks volumes in terms of our customer’s belief in CRMNEXT as a strategic platform for them.”
Learn more about CRMNEXT.