On Tuesday, June 28, Avoka announced that they have raised $12M in funding to expand operations.
Avoka is an enterprise Software as a Service company that solves the problem of digital customer acquisition and sales for large organizations. Founded in Sydney, Australia, and co-headquartered in Sydney and Broomfield, they are seen as the leader in digital customer acquisition for financial services companies and government agencies.
With 95 employees in Sydney, Broomfield, and London, Avoka has digitalized over 100 million transactions spanning more than 16,000 sales and service projects. The company plans to use the money to improve security elements of the technology and hire more product developers and sales and marketing staff in Denver and London offices.
Avoka saw that financial institutions and government agencies were spending billions of dollars on their strategic digital transformation, building tailor-made applications to put key functions (account opening, loan and credit card applications, and government license/services applications) online.
These projects are high-risk, expensive, and take long-periods of time in addition to being inflexible in changing markets. Avoka's technology, Avoka Transact fixes that issue, allowing businesses to build their applications in less time, with less money, and with more flexible solutions.
The technology acts as the primary interface between an organization and its customers at the point of sale or customer acquisition. Examples include opening a bank account online, applying for a loan, or submitting an insurance claim.
Avoka has already had wild success, with over 80 customers including 2 global banks, 5 of the top 50 banks in the United States, and 4 of the top 10 banks in Australia.
Code is excited to see expansion of Avoka in Colorado and globally.
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