High Wycombe technology services business secures equipment investment

Published by

Nicky Godding

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High Wycombe-based technology services business Zing has secured investment from Maven Capital Partners, one of the UKs most active private equity managers.

Zing builds and implements contact centre solutions, helping clients to improve customer communication and engagement, but also to enable more flexible working and increased efficiency.

The funding from Maven, the level of which is undisclosed, will enable Zing to capitalise on significant growth opportunities in the Communications Platform as a Service (CPaaS) market, which is expected to be worth $17.2 billion globally by 2023. Growth is driven by the increasing use of technologies including autonomous devices, SaaS (software as a service) technologies and AI analytics in strategic, development and procurement services. Digital transformation is a critical part of business’ strategy and cloud-based communications is often at the heart of new technologies.

Zing was spun-out of CRM provider Prospect earlier this year. Julian Hucker, founder of messaging services business Esendex has been appointed as CEO.

Tom Purkis, Partner at Maven said: “We see huge potential in Zing’s business model, initial success in the market and strong partnership with Twilio. Following our initial investment in Prospect, we see this as a growth opportunity in what is clearly going to soon become an essential communications technology for thousands of businesses.”

Julian Hucker, CEO at Zing added: “There’s a massive opportunity, and actually an imperative, for organisations to join up their customer communications and enhance the overall experience. With investment from Maven, we can accelerate our plans to support all kinds of businesses, many of whom are keen to move contact centre communications to the cloud and deliver on the promise that technology can offer.”

Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe. After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts. She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.