Enterprise cloud platform Liveoak closes $8m Series A round
US-based enterprise cloud company, Liveoak Technologies, has closed an $8 million Series A funding round led by S3 Ventures, reports Jane Connolly.
Seven Peaks Ventures, Wild Basin Investments, State Farm Ventures, Northwestern Mutual Future Ventures and Broadhaven Capital Partners also participated in the round.
Liveoak has seen a strong year, with more clients taking advantage of the virtual interaction solution for greater customer engagement. The platform includes features such as modern conferencing, patented collaboration, live e-signature and efficient data and identification capture.
The company says these services come with bank-grade security and a complete system-of-audit.
Liveoak will use the investment to fund global market expansion and product development.
“We’re proud to be partnering with global financial services firms that are embarking on a digital transformation journey and reimagining their customer experiences while reducing fraud and risk,” says Liveoak’s CEO, Tim Ramza. “Having the financial support and deep domain expertise of our newest investment partners will help us execute our vision even more rapidly and broadly.”
Charlie Plauche, partner at S3 Ventures, will join Liveoak’s board of directors.
He says: “enterprises are conducting business virtually at a record-breaking clip and are in dire need of services that can easily address complex digital transactions. Liveoak delivers a comprehensive, all-in-one solution to streamline otherwise time-intensive, disjointed, manual processes.”
Tom Gonser, founder of DocuSign and partner at Seven Peaks Ventures, will also join Liveoak’s board.