Boomtown Announces Its Rebrand to OvationCXM and $20 Million Funding Round

OvationCXM, previously Boomtown, a global leader in customer experience management (CXM), announced $20 million in a combined Series C and debt funding round, bringing the company's overall capital raised to date to more than $40 million.

The funding round was led by Telstra Ventures with participation from KeyBank, JobsOhio Growth Capital Fund, JumpStart Ventures, Savano Capital Partners, Capital One Ventures, Nyca Partners, Neventa Capital and CIBC Innovation Banking.

The new capital comes on the heels of a rebrand to better represent its service offerings as a category leader in CXM and record growth for the company's flagship CXM platform achieving 600% year-over-year bookings growth. The funding will support client expansion, plans for new capabilities and advanced technology features.

"The name OvationCXM more clearly defines who we are, what we do and where we are going in the future,"said Alfred Kahn IV, Founder and CEO of OvationCXM."Our CXMEngine platform is driving tremendous outcomes for our enterprise clients in customer retention, revenue growth and operating expense reduction, which rewards our clients and their customers. We're eager to build on those results with existing customers and expand our reach to more businesses. With our investors' backing and strategic support, we're in a strong position to sustain our strong growth and deliver better customer experiences through innovation."

OvationCXM has seen a significant increase in demand for CXMEngine in the past year, and the platform has emerged as a leading SaaS solution for customer experience management. With the new influx of capital, OvationCXM plans to expand its team of CXM experts and product designers and broaden CXMEngine's capabilities.