Next Generation CTI Solutions Company Tenfold Closes $7.5 Million In Funding

By Annie Baker ● October 18, 2019
  • Next-generation CTI company Tenfold announced it has closed $7.5 million in Series C funding

Tenfold — a next-generation CTI company that integrates the world’s leading CRM and voice platforms — announced it closed $7.5 million in Series C funding led by Next Coast Ventures. This round of funding includes investments from other returning investors Andreessen Horowitz, Geekdom Fund, and Salesforce Ventures.

Tenfold plans to use the funding to extend its real-time cloud integration layer and intelligent integrated UI to support more voice platforms and CRMs. These integrations connect critical data across sales and service teams in real-time thus making Tenfold’s platform an industry leader in powering better customer engagement.

“Customers are awaiting the day when they call into a support or service center and the agent on the other end knows exactly who they are and is enabled with relevant information right at their fingertips to provide personalized and efficient service,” said Tenfold CEO Jeff Cotten. “This additional funding will give Tenfold the ability to further empower global sales and service organizations to better serve customers at the point of interaction with intelligent ‘no touch’ data capture and streamlined sales and service workflows.”

Building a fully integrated sales and service experience is a challenge for most customer engagement centers as it forces agents to deal with many systems and screens to get the information they need to serve a customer. And the real value to the agent is in the streamlined workflows and fully integrating voice into the CRM that Tenfold’s intelligent integrated user interface provides. The platform applies a contextual lens to the CRM thus ensuring agents have immediate access to the most relevant data for their interaction and solve the task at hand while simultaneously automating and simplifying complex workflows.

Tenfold’s SaaS-based delivery model is fully compatible with legacy on-premise phone systems as well as modern VoIP and cloud-based communications platforms. And unlike solutions that require appliances or local provisioning, it is completely cloud-based allowing for reliability, scalability, and connectivity anywhere across the globe and currently serving customers on all six major continents. And Tenfold recently expanded its relationship with such providers as NICE inContact, RingCentral, and Avaya to better integrate their platforms with CRMs like Salesforce, ServiceNow, Microsoft Dynamics, Zendesk, and several others.

“We’re very impressed with the market traction that Tenfold is getting with large-scale contact centers in strategic industries like financial services, retail and high tech, which is why we wanted to increase our stake in the company,” added Salesforce Service Cloud EVP and GM Bill Patterson. “Tenfold provides Salesforce with the depth and breadth we need to better integrate the voice channel into our sales and service CRM and thus are a critical partner for us to enable a more human-centric service experience that is effortless and personal.”

Tenfold saw more than 600 deployments in over 60 countries. And Tenfold’s customers include many large enterprise companies across a range of sectors, including telecommunications, insurance, financial services, hospitality, and healthcare. Plus Tenfold is trusted by its customers and partners to improve and analyze more than 1.5 billion interactions every year.

“Tenfold’s mission to revolutionize the customer service experience fits squarely into our investment thesis: a great entrepreneur disrupting a massive industry using cutting-edge technology to solve a universal pain point for companies and consumers alike,” explained Michael Smerklo, co-founder and managing director of Next Coast Ventures. “Since coming on as CEO just eight months ago, Jeff Cotten has already done an incredible job of reshaping the company’s vision by building out a great team and driving a relentless focus on delivering real value for Tenfold’s growing customer base.”