State Farm Joins Strategic Investors John Hancock, Northwestern Mutual
Liveoak Technologies, an enterprise cloud company transforming virtual business, announced that it closed an $8 million round of funding led by S3 Ventures, with participation from Seven Peaks Ventures, Wild Basin Investments, State Farm Ventures, Northwestern Mutual Future Ventures, and Broadhaven Capital Partners. The funds will be used to accelerate product development and global market expansion. Charlie Plauche, Partner at S3 Ventures and Tom Gonser, founder of DocuSign and Partner at Seven Peaks Ventures will join the Liveoak Technologies board of directors. The Series A financing builds on an exceptional year for Liveoak which saw a rapidly growing roster of clients, a key executive appointment, and market momentum in the white-hot area of enterprise customer engagement.
Liveoak’s enterprise cloud platform enables company representatives to connect, engage and complete work with customers in a seamless Virtual Interaction™. Key features of the platform include modern conferencing, patented collaboration, live e-Signature and efficient data/I.D. capture all combined with bank-grade security and a complete System-of-Audit™.
“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,” said Tim Ramza, CEO, Liveoak Technologies. “Having the financial support and deep domain expertise of our newest investment partners will help us execute our vision even more rapidly and broadly.”
“Enterprises are conducting business virtually at a record-breaking clip and are in dire need of services that can easily address complex digital transactions,” said Charlie Plauche, Partner, S3 Ventures. “Liveoak delivers a comprehensive, all-in-one solution to streamline otherwise time-intensive, disjointed, manual processes. Already, Liveoak has demonstrated tremendous growth potential, and we strongly believe the company will emerge as a leader transforming the fintech space.”
“Liveoak’s innovative platform delivers an unparalleled collaborative experience to enterprises with complex customer journeys,” said Tom Gonser, founder of DocuSign and Partner at Seven Peaks Ventures. “I’m excited to serve on the board, bringing value to the team as we help the company reach its full potential to create an important new category in enterprise software.”