Investment will fuel product development for conversational data platform to address key issues like COVID-19
INDIANAPOLIS, IN (May 22, 2020) — Authenticx, a software company that leverages customer interactions to provide transformative insights for healthcare organizations, today announced the close of an $800,000 preferred equity round. The round was led by M25 (Chicago) with participating and new investments from Elevate Ventures (Indiana) and Innovatemap Ventures (Indiana).
The Authenticx platform makes it possible to combine existing customer interactions across call center recorded calls, texts, chats, emails and more into a single source of truth. Healthcare organizations, such as pharma and health insurance, can then organize and structure conversational data through a customized dashboard, and therefore make powerful insights that inform business decisions.
“Leaders can now listen to the actual voice of their customers in a really efficient and scalable way with this new technology,” said Amy Brown, Founder and CEO of Authenticx. “Decisions can be made confidently because you have all the data you need in one place.” Feedback surveys can be reduced and replaced with real-time audio and visual outputs in the Authenticx dashboard.
“It’s rare that we see a company so strong in every category. Amy is a known leader and highly connected in this space – which has shown in both her understanding of the pain points and her ability to close large deals quickly. And the market opportunity for this is large and growing rapidly, as big corporations struggle to provide, monitor and make effective use of their customer service. Authenticx is not just the whole enchilada – it’s the rice, beans and free chips and salsa too,” said Victor Gutwein, Founder and Managing Partner of M25.
“We were impressed with Amy, the quality of the team and the traction they have attained early on,” said Eric Steele, Entrepreneur-in-Residence at Elevate Ventures. “Their focus on data analytics throughout the customer lifecycle will have a major impact on financial and health outcomes for the companies they serve.” The company’s revenue grew 392% from Q1 2019 to Q1 2020, both from increased sales and marketing efforts and from the recent urgency for innovative healthcare solutions to enter the market.
“It’s never been more important for the work we do to reach the people who need it,” said Amy Brown. To further scale the company, Authenticx applied for and was accepted into an eight-month startup accelerator program ran through Endeavor, a global accelerator network. The company was also nominated for a TechPoint Mira Award in the Startup of the Year category.
The investment includes two additions to the Authenticx Board of Directors: Victor Gutwein of M25 and Jane Niederberger, a representative of Elevate Ventures.
“I am honored to be representing Elevate Ventures on the Authenticx board. Amy is an exciting leader with the knowledge and energy to deliver new tools in the customer experience space,” said Jane Niederberger. “As a former leader in healthcare and service, I know the information provided by Authenticx will be invaluable in servicing customers. It’s a level of fine-tuned analytics that hasn’t been available to decision-makers to make impactful changes to their offerings.”
Prior to founding Authenticx, Amy Brown held COO positions within the insurance and pharma industry, was the Legislative Director for the Indiana Family and Social Services Administration, and was the Health Policy Director during Governor Kernan’s administration.
Authenticx is the new standard for humanizing data at scale. The software platform analyzes and activates your customers’ voices to reveal transformational opportunities in healthcare. For more information, visit authenticx.com.