£3.5m funding for Salford software company ResponseTap

ResponseTap Ltd, the business-to-business software as a service (SaaS) company, has nabbed a multi-million pound investment.

The firm, based in Salford’s Exchange Quays, secured a £3.5m funding package from Clydesdale and Yorkshire Bank’s Growth Finance team.

ResponseTap was founded in 2008 and today provides call intelligence services to over 2,000 clients, with a team of 80 staff across offices in Manchester, London and the US.

The firm’s customer base includes national and international companies, such as energy giant British Gas, insurance business Hiscox and financial services firm Virgin Money.

ResponseTap has already raised over £5m in venture capital, through Eden Ventures and Beringea.

ResponseTap CEO Ross Fobian, who co-founded the company with business partner Richard Hamnett, said: “The last few years have been incredibly exciting for us and we’re hugely appreciative of the support we’ve received.

“We’re in a fast moving industry, and it was vital to know we had a banking partner who understood our vision and plans.”

He added: “We’re focused on growing the business and this new funding will enhance our ability to invest further.”

Clydesdale and Yorkshire Bank’s director of growth finance, Usman Ali, delivered the deal.

He commented: “Ross and Richard have built an incredible business in a short space of time, delivering state of the art solutions for some of the UK’s biggest companies.

“It’s extremely rewarding to have the opportunity to partner with such an innovative and ambitious firm and we look forward to working with them as they continue to grow.”

Last month, ResponseTap announced the relocation of its US operation from Atlanta to Madison Avenue in New York City.