Capital One Ventures makes second investment in Lightico in less than ten months
The Israeli digital customer experience solutions provider announced a $14 million addition to its Series B round, putting it at $27 million, as well as a 230% growth in 2020
Lightico, which provides companies and organizations mobile e-signature and e-document solutions, announced Monday an additional $14 million follow-on Series B funding round led by Capital One Ventures, bringing the total round to $27 million. It also reported a 230% growth in 2020.
Joining the round are Poalim Bank, which also integrated Lightico’s services into its operations, and previous investors lool Ventures, Crescendo Venture Partners, and Mangrove Capital Partners. This is Capital One Venture’s second financial investment in Lightico in less than a year.
Lightico’s digital completion platform is used by major companies in the insurance, automotive, telecom, and financial industries. It allows companies to collect documents, verify identification and, accept payments from customers’ smartphones.
The new funds are expected to support Lightico’s operations, mainly its Digital Completion Cloud rollout, as well as to add 30 new hires in the upcoming months and double its workforce to 200 during next year. Lightico’s clients include Capital One, MetLife, and GlaxoSmithKline. Its solution integrates into businesses via an open API or through integrations into business systems like Salesforce and Nice InContact.
“The growth we’ve seen over the past 18 months has been incredible and the value of enabling consumer-facing businesses to complete their journeys digitally and quickly has been proven time and again in terms of real ROI,” said Zviki Ben Ishay, CEO and Co-founder at Lightico. “We’re excited that Capital One continues to be part of our vision of creating effortless, efficient, and digitally complete customer journeys.”
Adam Boutin, Partner at Capital One Ventures said that “Traditional e-sign and e-contracting solutions weren’t built for the millions of B2C, consumer-focused interactions that happen every day. Today, companies need to offer start-to-finish journeys that match consumer expectations, allowing them to complete everything from auto loans to insurance claims with just a few clicks on their phone. Our investment in Lightico is a result of the demonstrated value of the company’s platform, the rapidly accelerating adoption of Lightico’s Digital Completion Cloud, and its enormous market potential.”