UK-based messaging company Augnet has secured £1.3m investment to expand its platform, sales and marketing.
Triple Point Venture Fund led the round alongside a number of industry experts.
Augnet will use the funds further develop the platform, which provides a ‘read receipt’ for SMS, and invest in its sales and marketing channels.
The technology makes it be possible to audit and trace SMS delivery, enabling the growing number of ‘killed’ messages – those that are not actually sent to users in order to increase operator profit margins – to be tracked.
The Augnet management team is led by founder and CEO, Daniel Gill, a former Skype executive with 20 years’ telecoms experience who also brings his own experience as an angel investor and board adviser to a number of start-up businesses.
COO Jekaterina Orlova brings commercial and management consultant experience from Skype, Deloitte and the fintech sector, where she specialised in cloud services and digital workplace transformation projects.
Daniel Gill, CEO and Founder of Augnet said the company was very excited to be working with Triple Point.
“Gaining a partnership with them at this early stage is a strong endorsement of our model,” he said.
“Augnet is well placed to work with some of the largest technology companies in the world in the near future. At just one-year-old, we are pleased to have achieved recognition from such a highly respected VC.
“Apart from the important investment that Triple Point has made, its highly knowledgeable industry experts have given us hugely valuable advice and have introduced us to a range of tech entrepreneurs and investors who are supporting us on a number of levels.
“We believe that with Triple Point’s backing and guidance, we are well placed to achieve our high-growth plans at speed and reach our full potential in the global marketplace.”