Cross Atlantic Capital Partners Invests $2.5 Million in Interactions Corporation Series D Funding

Jul, 21, 2010 09:30 AM - Business Wire

RADNOR, Pa.

Cross Atlantic Capital Partners announced today that it invested $2.5 million in a $6.3 million Series D financing for Interactions Corporation, a provider of innovative customer care communications for interactive systems. Other venture capital firms participating in the round include North Hill Ventures, Sigma Partners and Updata Partners. Cross Atlantic had previously led the Series C Round, which included the same investors.

"We believe that this company, with its new generation IVR technology, has a high degree of potential to transform the customer care industry," said Richard Fox, managing director at Cross Atlantic Capital Partners and director of Interactions. "This round will allow the company to augment its sales and marketing efforts and, as a result, further define itself as a market leader."

The Interactions solution works with and enhances existing IVR (Interactive Voice Response) platforms, speech, and Web applications, providing a proven impact on ROI - getting applications u and running 3x faster than the competition at a fraction of the cost. Supplemented by a small pool of human "intent analysts," who provide an additional layer of understanding, the technology automatically routes a customer's utterances to either a traditional speech recognition engine or an intent analyst at any point during the call.

About Interactions

Established in 2002, Interactions provides innovative and proven customer care technology and solutions for several of the most respected consumer-facing brands. The Company's corporate headquarters is based in Boston (Franklin), Mass., with its technology center located in Indianapolis (Carmel, IN). Interactions: Understanding Enabled™. For more information visit www.interactions.net.

About Cross Atlantic Capital Partners

Based in Radnor, Pa, Cross Atlantic Capital Partners ("XACP") is one of the leading venture capital firms based in the mid-Atlantic region, with over $500 million under management. XACP invests primarily in technology companies in the United States, Ireland, and the United Kingdom. Leveraging its deep, multi-disciplined network of global contacts, and the operational experience of its investment team, the firm actively assists its entrepreneurs and portfolio companies. The XACP portfolio currently includes a diverse array of companies focusing on Enterprise Software, SaaS (News - Alert), IT Services, Telecommunications, Financial Services, and other innovative technologies. http://www.xacp.com/