Cirrus, the UK’s leading AI-Contact-Centre-as-a-Service software and solutions provider, has secured significant debt refinancing with Natwest. This refinancing deal reaffirms the robustness and resilience of their operations, backed by continual year-on-year growth.
HMT LLP, under the guidance of Director Jack Longden, advised Surrey-based Cirrus, helping them secure substantial debt refinancing.
Founded in 2013, Cirrus has been backed by BGF since 2020. Cirrus offers an innovative omni-channel Contact Centre-as-a-Service platform that effortlessly merges voice and digital communication streams such as email, chat, social media, messaging, and feedback on online platforms. The platform offers contact centre agents a consolidated view of their customers, ensuring a comprehensive understanding of the client, regardless of the channel used. With a flexible approach to integrating with 3rd party applications, Cirrus is leading the way in implementing AI-powered technology. This ensures that agents consistently offer unparalleled customer experiences, fostering enhanced results for businesses.
With consistent accelerated annual growth, Cirrus has an expansive client base, including reputed names like Premium Credit, the Greater London Authority, and the Royal Household, where it holds the esteemed Royal Warrant.
Jason Roos, Cirrus Response’s CEO, says “We’re on a swift growth trajectory, with our channel partners, championing ground-breaking AI-CCaaS tools that empower agents to elevate customer service levels. Our alliance with HMT in this crucial debt refinancing phase has been invaluable. Jack and his team’s intricate understanding of our operations, coupled with their vast market insight, paved the way for a lucrative funding opportunity for Cirrus.”
Post their lucrative collaboration with BGF in 2020, Cirrus embarked on a rigorous investment journey that saw them more than double their yearly recurring revenue. As Cirrus flourished, the leadership recognised the need to replace their incumbent venture loan with a more adaptable debt model. This would not only offer better capital cost benefits but also mirror the burgeoning scale and evolution of the business.
HMT completed the fundraising advisory mandate, developing the credit proposition with the Cirrus team before leading a competitive funding process resulting in multiple attractive offers.
Jack Longden of HMT commented: “Having followed Cirrus’ success over several years, I am delighted we were able to bring the strength of HMT’s fundraising advisory capability to the fore and to deliver an attractive debt package to support the continued growth of the business. By combining practical lending experience with independent advice, HMT is able to support high-growth technology businesses like Cirrus to communicate a compelling proposition that resonates with lenders, unlocking highly competitive terms through all fundraising environments.”
About Cirrus: Cirrus is a leading contact centre solutions software company that empowers businesses to deliver exceptional customer experiences. With an unwavering commitment to innovation and seamless solutions, Cirrus provides cutting-edge technology that elevates contact centre performance and drives business growth.
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