The Fizzback Group receives $5million investment from Advent Venture Partners

Instant customer feedback provider accelerates growth plans with new funding

 

London, 28 February 2007 – Advent Venture Partners (“Advent Ventures”) today announces a $5 million investment in The Fizzback™ Group (“Fizzback”), the leading instant customer feedback provider.  This round of funding will accelerate Fizzback’s marketing and product development and enable the company to grow its team to cope with strong demand from blue chip customers. Fizzback was founded in 2004 and initially backed by The Accelerator Group and other angel investors, expert in consumer businesses.

 

Fizzback, formerly known as Instant Market Intelligence, works with large consumer-facing companies, such as National Express, to help them capture, respond to and analyse ‘point of experience’ feedback from their customers. The company provides a service that turns traditional customer feedback into true business information giving modern managers direct and immediate access into their customers’ insights as well as live operational data.

 

“We believe that Fizzback is creating a new market opportunity with its very innovative and unique customer feedback solution”, said Frédéric Court, Partner at Advent Ventures. “Fizzback has already demonstrated how they can make an immediate impact on consumer-facing businesses by instantly capturing and tracking actual consumer experience, to enable continuous improvements. Fizzback has shown impressive growth since inception and we believe that its team is well positioned to capitalise on this exciting opportunity.”

 

“We are delighted to have investors of such high calibre participate in this round. To receive strong backing from top venture investor Advent Ventures enables us to launch the Fizzback service across new markets and to build our team”, said Rob Keve, CEO of Fizzback. “We are rapidly executing on our vision to provide any consumer-facing business with the tools to generate, interpret and act on their customers’ feedback. The scale of this investment reflects our commitment to bringing our real-time feedback solutions to a wider market. We welcome Frédéric Court of Advent Ventures to our board.”

 

-ENDS-

 

About Advent Ventures:

Advent Ventures is one of the most experienced technology venture capital firms in Europe. Established in 1981 it invests in both the Information and Communications Technology (“ICT”) and Life Sciences sectors.  Advent Ventures has over £500 million under management from institutional investors across Europe and the USA. ICT investments include Ubiquisys (fixed-mobile convergence technology), Snell & Wilcox (digital media), Echovox (mobile media solutions), Cartesis (business performance management software) and Qype (local recommendation network).  For further information, see www.adventventures.com

 

About The Fizzback Group:

The Fizzback Group are specialists in instant customer feedback. Founded in 2004, The Fizzback service is an innovation solution for companies to listen and act in real-time to their customers’ comments. Feedback when captured at the point of experience and analysed automatically is a highly powerful tool for businesses to gain fresh and continuous insights into customers ‘top of mind’ reactions. Fizzback enables businesses to derive true economic benefits by driving operational excellence and improving customer satisfaction and retention. For further information, see www.fizzback.com

 

The Fizzback Group is located in London, UK, and backed by Advent Venture Partners.

 

For further information contact:

Rob Keve,

0845 067 1000,

rob@fizzback.com

 

Media contacts:

 

Advent Ventures:

Shona Prendergast / Francesca Reville,

Penrose Financial,

+44 (0)20 7786 4884 / 4864

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