Cloud Contact Center Specialist Cirrus Secures Funding Round to Drive Growth and Innovation
Cirrus, the award-winning provider of omnichannel cloud contact center solutions, has today announced a multi-million pound investment from BGF, the UK’s most active investor in growth economy businesses, along with flexible financing from NatWest’s Growth Capital Fund to fuel continued product innovation and business growth.
Founded in 2013 by Jason Roos, Cirrus provides cloud-based contact center software to private and public sector organizations looking to digitalize their customer service operations. The business has seen continued growth across the UK and North America making it one of the leading Contact Center as a Service (CCaaS) platforms.
Headquartered in Epsom, Surrey, Cirrus’ solutions allow businesses to interact with their customers across a wide range of digital channels (email, video, messaging and social media) in addition to traditional voice. All customer communications, regardless of channel, are aggregated into a single view which gives the contact center agent the full picture of customer contacts and promotes a quick and efficient response. This software has been shown to transform contact center operations by reducing waiting and issue resolution times, increasing customer satisfaction and drastically reducing costs.
Cirrus’ client base spans a broad range of sectors including finance, logistics, government, travel and retail. BGF’s investment will be used to grow the company’s sales teams in order to expand its network of channel partners, building on the already highly successful relationship with Gamma Telecom.
Jason Roos, Chief Executive Officer at Cirrus, commented: “This investment marks a proud day for the Cirrus team and an important milestone in our exciting journey. At Cirrus, we are in a phenomenal position to capitalize on megatrends in business communication, driven by consumer and technological changes which have been supercharged over the course of the Covid-19 pandemic.
“We’ve seen rapid growth and as a result of this funding we’re looking to further accelerate our sales trajectory, bringing more clients onto the Cirrus platform than ever before and quickly realizing our ambition of becoming the leader in the contact center market. In BGF we have a partner with unrivalled expertise, insight and experience in growing disruptive tech businesses and we look forward to working with them on the next phase of our growth journey”.
The ongoing migration of IT systems into the Cloud, further accelerated by the shift to homeworking, has been a key trend driving growth in this field, alongside increased business appetite for software that improves customer engagement and the move towards non-voice communications.
Rahul Satsangi, investor at BGF, led the deal alongside Zahir Kasmani.
Satsangi said: “Cirrus represents an exciting opportunity to scale a fast growth software business. With a large, untapped market, a strong product offering and impressive channel partnerships, we see huge growth potential. Jason has built a dynamic and committed team who have deep expertise in contact center technology and the business outcomes it can achieve. I am looking forward to partnering with Jason and his team to support Cirrus in realizing its growth ambitions.”
NatWest has also provided Cirrus with lending as part of today’s announcement. The Growth Capital loan from NatWest will complement the investment by BGF to help Cirrus further capitalize on the opportunities ahead of it. Kit Maclaren, Director at NatWest Growth Capital, commented on the deal: “We are delighted to work with Cirrus, and their new investor BGF, as their business scales up. Their strong technology product puts them in a great position to capitalize on the excellent growth prospects in front of them.
“Through NatWest’s dedicated Growth Capital fund, we shaped this financing around their specific needs as a high-growth business and are providing lending at competitive cost, without equity dilution, to help them scale and drive innovation. We look forward to working with them to achieve their aspirations for the company.”