Bill Safran’s Vizolution has secured funding from Finance Wales and Notion Capital.
Vizolution has raised over £750,000 of funding from investors, including a £500,000 investment from Finance Wales, which becomes a major investor in the business set up and run by Safran (pictured), the former CEO of Trigold.
The new funding will be used to launch the business into the UK financial services market.
Vizolution has also received a further £100,000 investment from Notion Capital, a European venture capital firm that helped the company to become established, plus further investment from the Vizolution management team. Additional funding has also come from a Peter Birch, ex-CEO of Abbey National and a Harvard Business School angel investor.
Vizolution has developed and successfully piloted its first product vScreen with a number of UK financial services companies. vScreen, which launches this week, is a patented screen sharing technology. In the pilot, vScreen was proven to increase sales by over 20% while improving customer satisfaction with over 90% positive responses in customer surveys.
vScreen enables call centre staff and advisers to remotely demonstrate mortgages, insurance or other protection products on the client’s computer, thereby providing a visual element to what would otherwise be a plain verbal call. It generates better customer engagement as the visual element enables the customer to achieve a level of understanding and confidence that they don’t usually manage on a call alone.
Safran said: “We are very pleased to welcome Finance Wales as an investor. This support from Finance Wales and Notion Capital is a mark of confidence that reflects the success of our pilots and the very real benefits that we add to our financial services customers.
“This funding enables us to launch into the financial services market and develop more products and features. Initially these are aimed at large banks and insurance companies, but our future development will enable us to make vScreen available to intermediaries and advisers.”