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February 28, 2007
Advent Backs Startup To Put Fizz In Consumer Feedback
Advent Ventures' Frederic Court wrote in to tell us his firm has invested in $5M in Fizzback, a three year old UK startup specialized in instant customer feedback via SMS (text messaging) and mobile email.
Court will join the company's board under the chairmanship of Robin Klein who was an early investor in the company - along with son Saul (the same two were early investors in Mind Candy, which is now backed by Index, Accel and NewMedia Spark).
Early customer wins, such as the UK's bus travel operator National Express, convinced the VCs to fork over the funding. Reading between the lines, the deal gives the VC exposure to the booming online advertising and consumer Internet market, two big favourites amongst venture capitalists at the moment, as Court wrote:
"We think this can be big as it is opening a whole new market to the company by helping big companies listen to their customers -- as opposed to just talking to them through advertising.
With Fizzback, customer feedback from the mobile channel is accessed via a web browser in a hosted environment. The cash will be used to launch the Fizzback service across new markets and to hire up.
Read Fizzback : Fizzy investment performance on the way for Advent ? (fred destin blog)
View - Fizzback site
Posted on February 28, 2007 08:10 AM | Posted to News And Updates | Permalink
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