Tech startup ResponseiQ raises £850k for product development and overseas push

Intelligent instant callback platform ResponseiQ has secured a six-figure investment.

The London-based company will use the £850k boost to develop a second version of its core platform, which aims to help businesses increase their ‘web traffic to lead’ conversion rates by engaging with visitors and leads at the perfect time.

ResponseiQ will also use the cash to create new products, expand its sales presence in the EU and US, and build strategic partnerships with agencies and tech businesses.

The funding was secured from Fuel.Ventures, Mactaggart & Mickel Investments and the founders of Trend Investments, among other backers.

Founder Scott Lee, a former investment banker, got the idea for the business after being put on hold for over 20 minutes while calling up for an insurance quote.

He thought it was odd for an eager customer to be inconvenienced, and it was this experience that inspired ResponseiQ.

Scott, 27, said: “Consumers are fed up with poor customer service and expectations are changing exponentially.

“That’s why a new report said that 97% of consumers will give more business to companies that respond quickly to them. We’re helping businesses generate higher ROI from their existing marketing spend, by doing just that.”

He continued: “These trends are why ResponseiQ has filled a gap in the market and is building a deserved reputation for increasing its customer’s revenues.”

Speaking further, Scott said the new investment will help ResponseiQ grow internally, adding: “I’m confident [it] will have a knock-on effect and help us reach more businesses.

“I’m hugely passionate about building a team of experts that are at the forefront of conversion optimisation technology, whilst ensuring it’s available to business of all sizes. It’s an exciting time for both the business and our valued customers.”