Utrecht-based Trengo, which claims to build an omnichannel communications platform to simplify communication for teams globally, announced today that it has raised $36M (approx €30.49M) in its Series A round of funding.
Founded in 2017 by Patrick Meutzner, Marcel van de Weerd, and Igo Trampe, Trengo aggregates all communication channels in one inbox to efficiently collaborate within customer-facing teams.
It helps companies improve communications with customers and teams, leading to increased productivity, sales, and customer satisfaction.
Investors and capital utilisation
The current round investment saw participation from New York-based global private equity and venture capital firm Insight Partners and Amsterdam-based early-stage investor Peak Capital.
Speaking on the development, Stefan Bary, managing partner at Peak, says, “Since our initial investment in February 2020, the company has grown tremendously from 12 employees to 70, and revenue growth has followed a similar growth trajectory. We are delighted to continue supporting the Trengo team on their incredible journey.”
The raised capital will help Trengo accelerate its international expansion, increase its workforce, and further boost the development of its tech-driven omnichannel communication platform.
“With this Series A funding, we have even more capabilities to strengthen our growth and innovation power to help businesses and people thrive globally,” says Patrick Meutzner.
One inbox for all customer contact channels
In the current scenario, digital transformation in business communications and the development of new communication channels creates overload, inefficiencies, and stress. And with the recent remote working conditions due to the Covid-19 crisis, teams feel the pressure while customers expect better and faster online service.
As companies struggle to keep up with demands, Trengo steps up to make a difference.
Trengo brings together all the popular platforms like WhatsApp Business, Instagram Direct Message, and Google Business Messages.
The platform claims to merge CRM, social channels, and communication tools, to provide an easy, efficient, and consistent way to improve customer satisfaction and productivity.
Meutzner says, “At Trengo, we aim to break the status quo of the market for business communications platforms. Our platform raises the bar for customer satisfaction and team collaboration worldwide, enabling organisations with an easier, more efficient, and more consistent way for all their communications.”
Currently, the platform is used in 60 countries by more than 2,000 active customers including Europcar, Pixum, Yobbers, OPPO, and Pon Porsche Dealergroep.
According to the FD Gazellen Awards, Trengo was listed in the top ten fastest-growing companies in the Netherlands in 2020.
In the past year, Trengo tripled its customer base from 700 to 2,000, processing more than 12.5 million messages per month for more than 20,000 users. The scale-up has grown from 12 to 70 employees in one year and is expected to grow to 200 employees by 2022. The organisation plans to open a new office hub in Utrecht to facilitate its growth this year.
In February 2020, the company raised €1.75M in funding to expand its sales and marketing team, improve its product, and focus on accelerating its growth in Europe.