CafeX Closes on $21 Million Series B Raise
CafeX, a leading provider of real-time engagement solutions for mobile and web platforms, announced that it has closed on $21M in Series B funding.
The round included participation from Intel Capital and a subsidiary of USAA, with return backing by Illuminate Ventures and other prominent angel investors. Founded in 2013, CafeX has evolved into a market leader for its innovative cloud-ready software platform that leverages WebRTC technology to power contextual real-time communication experiences within enterprise applications.
“In just a few short years, CafeX solutions have been adopted by some of the world’s largest banking institutions, leading U.S. based insurance companies, and major customer relationship management (CRM) platform providers. We plan to use this new injection of funding to penetrate new markets and accelerate our pace of innovation,” said Rami Musallam, chief executive officer for CafeX. “CafeX is grateful for the confidence that our investors continue to show in the company, and we are eager to intensify our development, engineering, sales and marketing efforts to meet our customers’ escalating demand for next-generation mobile engagement technologies.”
CafeX technologies have already been implemented by a number of large enterprise companies around the globe. Its Live Assist® solution, suitable for cloud-based and on-premises environments, enhances mobile applications and websites with HD video chat, co-browsing, context passing and other real-time capabilities to facilitate omnichannel collaboration for business-to-consumer, business-to-business and intra-company interactions.
“Our customers and partners have consistently asked for next generation engagement solutions that are mobile-first, cloud-ready and context-aware in order to drive highly personalized and seamless user experiences across interaction channels,” said Dan Solito, chief operating officer for CafeX. “The company has made significant strides in getting Live Assist into the marketplace, and this new funding will help strengthen our leadership in a highly competitive market.”
CafeX’s Live Assist solution was recognized with Best of Show honors at the 2014 Enterprise Connect conference, the largest business communications conference in the United States. The company also received a New Product Innovation Award from market research giant Frost & Sullivan last July. In recent months, CafeX has expanded its distribution channel by adding a combination of direct, reseller and OEM relationships.