ResponseTap raises £4m to boost growth

RESPONSETAP, the Manchester-based call tracking and analytics company, has raised £4m in a fresh funding round to expand in the US.

The business, co-founded by Ross Fobian and Richard Hamnett, helps companies understand which marketing campaigns drive phone inbound phone calls, works with bluechip firms including British Gas, Aviva and TUI.

The latest funding includes £2.5m from Beringea, which manages the ProVen Venture Capital Trusts, and £1.5m from existing investor Eden Ventures.

As well as growing its US presence ResponseTap will use the investment to continue support for its UK development team.

ResponseTap was advised by the corporate finance team at Manchesterlaw firm Pannone Corporate.

Since its first external funding round in 2012, ResponseTap has developed rapidly and now has 50 employees.

Ross Fobian, chief executive and co-founder of ResponseTap, said:  “All of this gives us the perfect springboard to continue our expansion in the US to continue our technical development, increase the associated support team and to launch into Europe.

“We continually use feedback from our clients to improve our technology and support – a wider client base between the US and the UK makes this even more optimised. We’re looking forward to seeing what insights our clients can gain with this new round of investment.”

Partner Tom Hall, led the Pannone Corporate team which included solicitor Arshnoor Amershi and IP/IT senior associate Victoria Dolan.

Mr Hall said: “We have worked closely with ResponseTap since its very early days and helped to secure the first round of venture capital funding in 2012.  Over the last two years the company has grown rapidly and is now the market leader.”