4th exit for Advent Venture Partners’ Tech portfolio in 2011 for over 6x average returns

Fizzback is a London-based company with US operations. It is the leading provider of real time customer experience management. Its combination with Nice Systems creates a global leader with the first fully integrated Voice of Customer solution. 

• Unique offering that has scaled globally

Fizzback obtains customers’ feedback relating to a specific interaction or transaction in real time, via mobile, web or social media; and in natural language.  Fizzback analyses the feedback and prompts the best response to it.  This unique approach generates remarkable response rates of up to 50%, with more than 150 million Fizzbacks collected annually on three continents.  That scale drives unusually deep operational benefit for  blue chip clients that include British Telecom (BT), O2, Best Buy Europe, Everything Everywhere, National Express, Virgin Media, Tesco,and several Tier 1 North American telecom carriers.

• Advent as a partner to entrepreneur-led businesses

Advent Venture Partners (Advent) backed Fizzback and its founder and CEO, Rob Keve in late 2006 and is the company’s largest shareholder. We have brought important hires, customers, partners, and advisors to the company, working closely with CEO Rob Keve and Chairman Jonathan McKay to scale the business, including into the US market.  

• Fourth Tech exit in 2011, further strong returns

The sale generated a return of over 5x Advent’s investment. It represents the fourth exit from a Tech investment by the Advent team in 2011, following The Foundry’s sale to Carlyle in March, Dailymotion’s structured sale to Orange in April, and Zong’s sale to eBay in August, underlining the team’s success in difficult market conditions. These exits have generated over 6x invested capital on average, and in aggregate returned 1.7X the total amount invested in Tech from Advent Private Equity Fund IV.

• Capital efficiency

The performance underlines that capital efficient companies can create significant value.  Fizzback had raised under $8m cumulatively, much less than most SaaS businesses of comparable sizes and growth rates.

More background on Advent’s investment in Fizzback is available on the Advent blog:
Fizzback to be acquired by NICE Systems 

A link to the PR issued by NICE is below:

NICE Systems

Please feel free to contact either Mike Chalfen or Frederic Court with any questions regarding Fizzback:

Mike Chalefn: +44 (0) 207 932 2114 or mike@adventventures.com
Frederic Court: +44 (0)207 932 2100 or frederic@adventventures.com