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Wednesday 10 October 2018

Mercia fills in more blanks in Voxpopme's funding

logoYou have to listen closely to the 'explainer' video on its website to realise that video survey startup Voxpopme still uses real people to transcribe the audio on the video clips. But that hasn't dampened Mercia Technologies' enthusiasm for the Birmingham-based company.

Having initially invested in Voxpopme through its fund management arm just under a year ago (see Mercia pops a million+ into Birmingham’s Voxpopme), Mercia moved the startup to its 'direct' (plc balance sheet) portfolio last March (see Mercia promotes Voxpopme with £1m investment). Mercia has just tossed another £1.5m into the pot to help Voxpopme expand its technical and commercial teams. Just a week ago Voxpopme hired ex-Verint executive Jon Carbone as VP of its VideoCX product.

Founded in 2013, Voxpopme now appears to be shifting its brand focus to VideoCX, which now has its own website mirroring that of the Voxpopme website, which I did find a little confusing. But with the whole world apparently on a CX (customer experience) kick, it does make sense for management to 'relabel the tin'.

While there is no shortage of survey platforms out in the market, I don't seem to be able to find another 'video first' product like Voxpopme's. This could be great news if you subscribe to a 'first in, best dressed' view of market leadership, or perhaps not so good news if you take a view that if nobody else is there, then there ain't a market!

I think Mercia is backing the right horse, though I still worry that the 'human transcription' link in the proposition will pull back the reins on Voxpopme's ability to really gallop ahead.

Posted by Anthony Miller at '08:01' - Tagged: funding   startup  

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