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Fast-Growing Cloud Customer Care Specialist Raises $30 Million

January 28, 2016, 2:48 PM UTC
NewVoiceMedia CEO Jonathan Gale.
Courtesy of NewVoiceMedia

Right now, just 10% of the world’s contact centers and customer support operations run on cloud-delivered systems but adoption could triple by 2020.

One company standing to benefit from that potential boom is London-based NewVoiceMedia, a provider of cloud contact center software that is approaching an annual revenue run rate of $50 million, according to its CFO Guy Sochovsky.

Growth over the past 12 months helped the company secure another $30 million in venture backing disclosed Thursday, including a “meaningful contribution” from previous investor Salesforce (CRM) Ventures.

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“The additional capital from Salesforce Ventures reinforces our position within the Salesforce ecosystem and gives us access to the most experienced and innovative cloud executives,” said NewVoiceMedia CEO Jonathan Gale, in a statement.

The Series F investment boosts total funding to more than $140 million, Sochovsky noted, declining to discuss the valuation. Other participants in the round were new investor BGF Ventures (a fund dedicated to early-stage UK technology companies) along with previous backers Bessemer Venture Partners, Eden Ventures, Highland Capital Partners Europe, and Technology Crossover Ventures.

NewVoiceMedia’s technology, which runs alongside the Salesforce customer relationship management system, can be used by support, sales, and marketing teams to manage interactions with customers. So far, the company has signed up approximately 500 customers for the service, including delivery company TNT and mobile technology management specialist MobileIron.

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During the current fiscal year (slated to close Jan. 31), North America accounted for approximately 30% of NewVoiceMedia’s revenue. By the end of next year, however, the contribution should climb to 45%, Sochovsky said.

Much of the new round will fund investments in the company’s sales and marketing operations. The company’s workforce currently numbers around 350 people, with two-thirds of the team based in the UK.