Manchester-based SaaS business Mojo-CX has raised £2.25m of investment in a round led by NPIF II – Praetura Equity Finance.
Mojo-CX says it is using AI to analyse customer service conversations, train call handling staff and enhance the user experience for millions of consumers.
It was founded in 2018 by CEO Jimmy Hosang and has developed a suite of tools, including an AI team leader called MO and an agent assistant called JO, to help businesses analyse digital and voice conversations.
The business, which also has an office in Birmingham, will use the funds to develop its technology by introducing new features, such as voice AI and automated quality assurance to benefit agents in real-time. It also plans to double the size of its sales and engineering teams.
“We’re absolutely thrilled to receive this investment from NPIF II – Praetura, as well as River Capital, Foresight, the Greater Manchester Combined Authority and MEIF, which will be instrumental in driving the next stage of growth for Mojo-CX,” said Hosang.
“As a proud northerner, this funding also allows us to deepen our commitment to the region by creating high-quality jobs and fostering a thriving tech community here in the North West.”
The investment included £1m from the Northern Powerhouse Investment Fund II, which recently announced that it had invested £50m in Northern businesses within 10 months of its inception.
The £660m project covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
Michael Rees, investment manager at Praetura Ventures, added: “Mojo’s tools are already having a significant impact by providing businesses with tangible data and insights to improve the quality of their customer service functions.
“We’re proud to be backing another proudly northern company, which has identified a clear gap in the market for a suite of analytics, monitoring and training tools for contact centres, which are essential to every business’s consumer reputation and bottom line.”
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