Liveoak Technologies, an Austin, Texas-based enterprise cloud company, as per recent reports last week, has just closed a Series A fundraising round, raising $8 million in investment funding. The funding round was led by S3 Ventures, an Austin, Texas-based venture capital firm, and was participated by Seven Peaks Ventures, Wild Basin Investments, State Farm Ventures, Northwestern Mutual Future Ventures, and Broadhaven Capital Partners.
Liveoak, witnessing a strong year, has more and more clients lined up for the Liveoak Virtual Interaction solution to offer better customer engagement. The Liveoak Virtual Interaction platform, featuring modern conferencing, patented collaboration, live e-signature, and efficient data and identification capture, offers bank-grade security and a complete system-of-audit.
The company plans on utilizing this recent investment to expand further into the global markets and fund its product development process.
“We’re proud to be partnering with global financial services firms that are embarking on a digital transformation journey and reimagining their customer experiences while reducing fraud and risk,” states Liveoak’s CEO, Tim Ramza. “Having the financial support and deep domain expertise of our newest investment partners will help us execute our vision even more rapidly and broadly.”
As part of this investment, Charlie Plauche, Partner at S3 Ventures, and Tom Gonser, Founder of DocuSign and Partner at Seven Peaks Ventures, will be joining Liveoak as members of its board of directors.
“Enterprises are conducting business virtually at a record-breaking clip and are in dire need of services that can easily address complex digital transactions. Liveoak delivers a comprehensive, all-in-one solution to streamline otherwise time-intensive, disjointed, manual processes,” says Charlie.