Israeli startup Lightico announced on Tuesday that it raised $14.5 million to accelerate product development of its digital customer interaction platform. The funding round was led by Mangrove Capital Partners, whose portfolio includes companies like Skype, WalkMe and Wix. Crescendo Venture Partners and early-stage investors lool ventures and Spinach Angels also participated in the round.
Founded in 2015 in Tel Aviv and New York, Lightico developed a mobile platform to help businesses streamline online processes such as collecting forms, documents, e-signatures, photos, consent and disclosures agreements, as well as verifying IDs. Lightico says these transactions can be performed while the customer is on the phone.
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“Today’s consumers have been trained by companies like Amazon, Uber, Apple and Netflix to expect instant experiences anywhere, especially on their mobile phones. Lightico helps regulated businesses accelerate and simplify complex processes in the critical last mile of the customer journey, where customers transact,” said Lightico co-founder and CEO Zviki Ben-Ishay. “Our technology empowers businesses to deliver the instant digital experiences consumers demand by eliminating the ping-pong of paperwork, endless emails and redundant phone calls that plague sales and service processes.”
Lightico says the funding will be used to build growth, accelerate product development and expand its global presence.