The Accelerator Network assists Alloxentric to raise $275k 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-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. RLC Ventures was introduced to Alloxentric via Accelerator Funding Network, which specialises in connecting startups post accelerator programmes with seed capital.
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. The company is on track for 300% YoY growth and is currently breakeven.
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.
About Accelerator Funding Network
Accelerator Funding Network, part of The Accelerator Network, guides and supports high achieving alumni startups post accelerator programmes to connect with seed capital. Drawing on extensive experience with equity raising and strong relationships with professional investors, our team help startups to achieve successful fundraising outcome. For more information, please visit www.theacceleratornetwork.com.