CIQUAL Closes Latest Round of Funding

CIQUAL Limited, an Edinburgh based leader in customer experience solutions, has closed its latest investment round. Recognising the continued success of CIQUAL’s solutions in the customer experience market this significant funding round was led by investors Par Equity and the Scottish Investment Bank, the investment arm of Scottish Enterprise. The latest investment will enable CIQUAL to further enhance its leadership position using their innovative, patented technology to deliver the most accurate, real-time measure of the user’s service experience. With this insight, mobile operators can deliver an unrivalled customer experience by assuring the operation of their network to proactively avoid customer affecting events and provide superior care that delights their customers.

'We are delighted that the investors have come together to recognize and continue their support for CIQUAL. This investment enables CIQUAL to deliver on our customer commitments and support the growth in our customer experience solutions business' said Tom Walls, CEO for CIQUAL.

Kerry Sharp, Head of the Scottish Investment Bank, said: 'We have been working with CIQUAL since 2008, and we’re glad to see them successfully complete this latest funding round. We will continue to support the company as it works towards achieving its growth ambitions.'

Andrew Castell, a partner at Par Equity, commented “With the volume of mobile data traffic doubling every year worldwide, quality of service and user experience are more important than ever as a differentiator for network operators. Par Innovation Fund I’s follow-on investment recognises CIQUAL’s positioning in this market.”

CIQUAL’s solutions can measure the user’s actual service experience on all networks. By attaining these measurements, operators can interact with customers on a 1 to 1 basis while viewing their real-time experience and also reduce service performance complaints to the Call Centre.

In addition, CIQUAL’s solutions can also identify network blind spots and give accurate visibility of the user experience as customers are offloaded to a Wi-Fi partner network, giving mobile operators the opportunity to use improved offload policies to improve their user’s experience.

CIQUAL combines direct selling with a series of channel partner relationships. Current customers include Mobile Operators in Europe and Asia.

 

Enquiries

Rhona Hynd, Tel: +44 (0) 131 718 0800, rhona_hynd@ciqual.com

 

About Par Equity

Par Equity, based in Edinburgh, Scotland, is a venture capital firm providing financial and intellectual capital to innovative small and medium-sized companies with high growth potential. For further information, please visit parequity.com

 

About Scottish Investment Bank

The Scottish Investment Bank is a division of Scottish Enterprise operating Scotland-wide in partnership with Highlands and Islands Enterprise.

It manages a suite of funds including the Scottish Seed Fund; the Scottish Co-investment Fund and the Scottish Venture Fund, which are partly funded by the European Regional Development Fund (ERDF); the Scottish Plastics Loan Fund and the Renewable Energy Investment Fund. SIB is also the cornerstone investor in the privately-managed Scottish Loan Fund and an investor in Rock Spring Venture’s Life Sciences Fund.

These support Scotland’s SME funding market to ensure businesses with growth and export potential have adequate access to capital. SIB also provides a team of financial readiness specialists to help companies prepare for new investment and more easily access finance.