AXA Strategic Ventures which launched earlier this year has opted to make one of its first investments in Evercontact, a cloud-based service which extracts contact information in emails and shares and updates them automatically.
Evercontact’s fully automated service resolves the challenge of keeping a comprehensive and update to date contact list. To do this, Evercontact scans contact information otherwise left unused in a user’s email (Gmail, Google for Work, Outlook, Office 365, etc), then identifies, extracts and compares the information in email signatures to a person or company’s contact database and, finally, seamlessly updates the user’s contact info. Thus far, the company has analyzed over 1 billion emails and created and updated more than 300 million user contacts.
Evercontact CEO Philippe Laval spoke about how AXA’s investment will enable them to accelerate their growth adding:
“Our first capital injection in 2012 allowed us to validate and structure our offer. This second round of financing comes at a time when Evercontact is more established. The funds will enable us to shift into high gear, and particularly to expand our reach in the worldwide marketplace.”
The first priority from of their latest round of funding will be to boost their international footprint, particularly in the US which already makes up 80% of their revenues. San Francisco will be the home of their US base, where they will open an office in Q3 2015 via the UBI i/o immersion program. They will also draw on their new funds to expand their product line and further develop its expertise.
In speaking about the potential of Evercontact’s technology and the rationale behind their investment, Minh Q. Tran, General Partner of AXA Strategic Ventures and Managing Partner of AXA Factory added:
“Contact management is obviously a major issue for insurance companies, especially when optimizing their sales relationships. Additionally, investing in technology related to Big Data is one of our priorities and Evercontact, as an innovator in this market, has a potential for international expansion that influenced our decision to provide support for its growth. ”