Vee24 Appoints Priya Iyer As Chairman And CEO
PICKS UP $8.5 MILLION SERIES B LED BY ASCENT VENTURE PARTNERS
BOSTON, May 4, 2016 /PRNewswire/ -- Vee24, the live video assistance solution trusted by some of the world's leading consumer-facing brands, announced today that Priya Iyer has joined the company as Chairman and Chief Executive Officer. Iyer, most recently Co-Founder, Chairman and CEO of Anaqua, a global SaaS solutions provider for Intellectual Asset Management, will be responsible for accelerating growth at Vee24. Additionally, Vee24 and Iyer announced that the company closed on an $8.5 million Series B financing round, led by Ascent Venture Partners, with participation from current investors Data Point Capital and Point Judith Capital. The company also announced that Geoffrey Oblak, General Partner at Ascent Venture Partners, has joined the board.
"Vee24 works with some of the world's most respected brands, all of whom share our vision that online sales and customer support can be enhanced through live consultation. Online customer engagement is experiencing a surge of innovation and we plan on being an integral part of this change. I'm delighted to be leading a talented team to deliver significantly better customer experience globally, across all online channels and devices," said Iyer.
Vee24's product offering allows businesses across multiple browsers to seamlessly interact face-to-face with their customers without requiring a download. On average, Vee24 clients realize a 5x increase in conversions, 35% growth in average order value and a 96% average customer experience rating.
"I couldn't be more delighted to be working with Vee24, especially with the addition of Priya Iyer as Chairman and CEO," comments Geoff Oblak, General Partner of Ascent Venture Partners. "Enhancing the live customer experience is essential for any organization with an online interaction channel. Vee24 has a proven track record of driving improved results for its clients. With Priya at the helm we are ideally positioned to seize this market opportunity, grow our client base, further develop our world-class technology and provide online organizations with a true commercial advantage. I am excited to work with Priya and the Vee24 team, as well as join the other investors Scott Savitz of Data Point Capital and Sean Marsh from Point Judith Capital on the board, as we build a world-class organization."
In addition to her time at Anaqua, Iyer headed Operations at Steelpoint Technologies, a legal software provider for Fortune 500 companies and global law firms. She was named New England Entrepreneur of the Year in 2014 and ranked on the 2015 top 100 Entrepreneur list by The Boston Globe. She serves on several boards, women executive panels, and is a regular guest speaker at various business schools in the Greater Boston area.
About Vee24
Vee24 is the live customer engagement solution trusted by the world's leading consumer-facing brands. Featuring voice, video, text and co-browsing for web, mobile, and kiosk-based customer engagements, Vee24 is the most broadly and successfully deployed solution proven to advance the customer experience and dramatically increase ecommerce sales. Customers include Audi, DFS, Schuh, Samsung, Comcast and Mattress Firm. The company is headquartered in Boston, Mass., with European operations in Manchester, England. For more information, please visit http://www.vee24.com/.
About Ascent Venture Partners
Ascent Venture Partners is dedicated to investing in innovation for the enterprise. In backing more than 100 early-stage, emerging technology companies since 1985, Ascent has remained committed to its mission of partnering with exceptional entrepreneurs striving to build innovative market leaders. Ascent's investments have yielded powerful results generating more than $10 billion in enterprise value, which speaks to the firm's deep knowledge, experience, commitment, and networks. The Ascent investment team manages six venture funds with total commitments of more than $500 million, and is located in Boston, Mass. For more information, please visit http://www.ascentvp.com/.
SOURCE Vee24
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