- Boomtown, a company that helps organizations sell, activate, and support business technology products, announced it raised $12 million in funding
- This round of funding was led by Telstra Ventures with participation from Capital One Growth Ventures and existing investors Nyca Partners, Commerce Ventures, Spider Capital, and NHN Ventures.
Boomtown is a company that helps organizations that sell, activate, and support business technology products for simplifying the complexity of delivering insightful and powerful customer experiences at scale.
With Boomtown’s Relay platform, technology solution providers are able to communicate with their customers in efficient ways and are able to collaborate across organizations for answering questions and resolving issues. Relay has an expert network where teams can seamlessly access programmable remote and field services to augment their existing operations.
Boomtown has more than 175 technology partners and over 350,000 business locations served via Relay and has over 2,500 unique products and services indexed. Essentially, Boomtown reduces the complexity of selling, activating and supporting business technology products used in real life. To generate powerful insights on how customers are using connected technology products from multiple providers, Relay leverages the world’s first (patent pending) business technology index.
“Companies that provide technology powered products are in a constant state of reaction to their customers’ challenges and for good reason – it is an increasingly complex and connected physical environment.” said Boomtown founder and mayor Alfred ‘Chip’ Kahn IV. “This capital accelerates our ability to transform partner customer journeys from being reactive to proactive and predictive.”
Recently, Boomtown announced it raised $12 million in funding led by Telstra Ventures with participation from Capital One Growth Ventures and existing investors Nyca Partners, Commerce Ventures, Spider Capital, and NHN Ventures.
This round of funding will be used for further accelerating the company’s continued growth and its ongoing investment in its Relay Software-as-a-Service (SaaS) platform. Boomtown’s partners who have adopted the Relay platform saw reductions in product activation times of up to 88% along with improvements in customer service handle times of 45% and Net Promoter Score increases of more than 20 points.
“The number of digital devices in distributed environments, such as retail stores, has been exploding. For instance, CPU growth in small businesses has skyrocketed in the last decade from 2 connected CPUs to over 25 on average,” added Telstra Ventures managing director Mark Sherman. “This ongoing transformation represents a massive challenge that Boomtown has unique capabilities to solve. Given there are over 60 million retail store locations worldwide, the market opportunities for Boomtown are significant.”
Boomtown also announced it has appointed Robert HB Baldwin Jr to its board of directors. Baldwin also serves on the board of Global Payments Inc. and joined Heartland Payment Systems in 2000 as its CFO. While at Heartland, Baldwin helped manage its growth through its IPO in 2005 and the eventual $4.3 billion sale to Global Payments in 2016.
