Tag: Five Elms Capital

Auckland, New Zealand – AskNicely, the frontline success platform that provides customer experience software to service businesses, has announced that it has raised US$32m in a Series B funding round led by growth investor firm Five Elms Capital, which will be used in empowering frontline teams.

AskNicely, which has a presence in New Zealand, the US, and the Netherlands, has an industry-leading mobile platform that delivers personalized coaching and motivation for frontline workers powered by real-time customer feedback and eliminates the need for layers of middle management.

Through the new funding, AskNicely will be launching the world’s first Frontline Success Platform, which aims to bring better technology to frontline teams. It takes inspiration from people-powered businesses that have invested in technology to coach and motivate millions of frontline workers with no requirement for supervision or layers of traditional management. 

Aaron Ward, the CEO of AskNicely, shared that brands like Uber and Airbnb have proven how customer feedback can be gamified for customer-facing staff to unlock small daily improvements which, over time, drive status and rewards with concepts like ‘Superhost’ or ‘Uber Platinum Pro’. 

“For the first time, any service business can now empower every frontline worker with the same capability in a simple mobile app at a fraction of the cost,” explains Ward.

As part of the funding, Ryan Mandl, Five Elms Capital’s managing director, will also be joining the AskNicely board. 

Mandl commented, “Given that frontline workers make up 80% of the planet’s working population, we see an enormous market opportunity for AskNicely’s Frontline Success Platform, and are excited to partner with Aaron and the AskNicely team to continue to develop innovative products for their fast-growing, global customer base.”

Sydney, Australia – IntelligenceBank, an Australian-based marketing technology company, has secured a US$37 growth investment, which will help fuel the continued growth of IntelligenceBank, fortify its market leadership position, and support global expansion plans.

Made possible by global growth equity firm Five Elms Capital, said funding will also accelerate IntelligenceBank’s innovative product roadmap which includes initiatives such as next-gen AI, flexible integrations and powerful content governance and compliance features.

The $37 million (USD) investment comes as brands and enterprises have realized that outdated technologies, disjointed data sources, and manual processes make it challenging to efficiently manage essential marketing workflows and ensure compliance across the organization. 

IntelligenceBank digitally transforms manual processes and poorly stacked systems with a purpose-built platform to improve marketing efficiency, increase speed to market, and minimize marketing compliance risks. 

Speaking about the investment, Tessa Court, CEO and founder at IntelligenceBank, stated that the funding will help the company to scale its platform and further support its rapidly expanding global customer base.

“We are looking forward to working with the Five Elms team to accelerate our growth during a time when marketing departments are undergoing massive digital transformations. There is a growing need for IntelligenceBank’s marketing system of record to better manage content, deliver go to market efficiencies, and streamline approvals as well as brand and regulatory compliance. The new funding will help us move faster and leverage global market opportunities that will serve our customers’ needs,” Court stated.

Meanwhile, Joe Onofrio, Managing Director at Five Elms, commented: “We have gotten to know Tessa and her team over the last four years, and during that time they have efficiently executed on their plan to build a world-class organization helping clients access, manage, deploy, and control their digital assets at scale. IntelligenceBank has an evangelical customer base across numerous industries and continents. 

He added, “The company’s platform is leading the way as organizations manage digital transitions and increases in remote workforces. We could not be more excited to support IntelligenceBank in their quest to deliver innovative solutions that enable marketing organizations to be more collaborative, efficient, and strategic.”