Alloxentric secures seed investment of $275,000 to scale operations & maximise growth in Latin America
With the capital provided by the London-based investment fund RLC Ventures, Alloxentric will establish its operations in Mexico and hopes to lay the foundations for further local and global expansion.
London, February 25, 2021, London-based investment fund RLC Ventures led Alloxentric’s seed round of $275,000, providing the necessary capital to build on their early success. To-date, Alloxentric has been operational across Latin America in countries such as Chile and Colombia, providing an omnichannel platform as a service, powered by AI, for customers across numerous industries.
Alloxentric has grown at an impressive rate, with close to 1,000,000 contacts per day and having started their sales process at the beginning of 2020, they have established significant revenue at a quick pace. The company is on track for 300% YoY growth and is currently breakeven.
Following the completion of this round, Alloxentric also announced that Simon Morris will be joining the advisory board. Simon previously served as Chief Strategy Officer at BitTorrent, Head of Product at Facebook’s Libra and is currently CSO at ConsenSys, the New York decentralised software giant. Simon adds a unique insight into building successful products which will assist Alloxentric in improving its product along the journey to building a world-class offering for its customers.
Following this raise, the company will expand operations to Mexico and continue the development of its artificial intelligence solutions.
“The investment round was very smooth. In just three weeks, we secured a deal with RLC Ventures, who were interested in Alloxentric due to its robust technology and large commercial potential. We are excited to partner with RLC Ventures and utilise their extensive global network to grow our business operations,” explains Max Kreimerman, CEO of Alloxentric.
RLC Ventures is an early-stage VC fund based in London. They invest in the UK’s most ambitious and forward-thinking entrepreneurs, changing the worlds of Work, Play and Finance.
Founding Partner Reece Chowdhry comments:
“We were extremely impressed with Max and all that him and the team have achieved so far. What excites us most about the proposition is the scale of Max’s vision and ambitions for the company. We expect big things over the coming years.”
Alloxentric is Latin America’s leading company in artificial intelligence applied to customer experience, with operations in Chile, Colombia and Mexico. While consolidating its operation in Mexico, Alloxentric expects to lay the groundwork for further accelerated expansion in 2022, as it continues to develop cutting-edge technology solutions and improve the way companies engage with their customers.
Alloxentric is a communications company that integrates voice, text and artificial intelligence to design the best contact strategies in an automated, multi-channel and low-cost way. Its omnichannel and modular communications platform, based on artificial intelligence, allows companies to optimise and improve communication with their customers, in their local language and accent. Alloxentric currently operates in Chile, Colombia, Mexico and Peru. For more information, please visit www.alloxentric.com
About RLC Ventures
RLC Ventures is a team of experienced investors, founders and operators investing in change. Since 2016, our award-winning EIS and SEIS funds have backed software companies that are transforming the worlds of Finance, Entertainment and B2B Software. For more information, please visit www.rlc.ventures.