Salford software firm accelerates growth plans with multi-million pound funding

Business to business Software as a Service (SaaS) firm ResponseTap Ltd will be embarking on a further stage of growth after securing a £3.5 million funding package from Clydesdale and Yorkshire Bank’s Growth Finance team.

The company, established in 2008 by founders Ross Fobian and Richard Hamnett, are leaders in Call Intelligence, allowing their clients, which include British Gas, Hiscox and Virgin Money, to manage their end customers’ user experience, from websites to phone calls via call centres. Call Intelligence provides clients with real time insight, providing the opportunity to maximise marketing campaigns.

ResponseTap has more than 2000 customers, providing analytics on more than 1 million calls per month. The firm, which employs 80 staff and has offices in Manchester, London and Atlanta, has already raised more than £5 million in venture capital through Eden Ventures and Beringea.

Ross Fobian, Founder and CEO ResponseTap said: “The last few years have been incredibly exciting for us and we’re hugely appreciative of the support we’ve received. We’re in a fast moving industry, and it was vital to know we had a banking partner who understood our vision and plans. We’re focused on growing the business and this new funding will enhance our ability to invest further.”

The deal was delivered by Usman Ali from Clydesdale and Yorkshire Bank’s Growth Finance team, a specialist UK-wide team that provides senior lending for innovative and rapidly expanding businesses with strong intellectual property assets and existing venture capital.

Usman Ali, Director Growth Finance at Clydesdale and Yorkshire Bank, said: “Ross and Richard have built an incredible business in a short space of time, delivering state of the art solutions for some of the UK’s biggest companies. It’s extremely rewarding to have the opportunity to partner with such an innovative and ambitious firm and we look forward to working with them as they continue to grow.”