UK VC firm leads $9.4m round for Australia's Pendula

Equity Venture Partners (EVP) and Sydney-listed asset manager MA Financial Group also participated. EVP has been an investor since at least 2019, when it provided a AUD 3.5m round. MA Financial provided AUD 5m of a AUD 6.7m round in 2021 that also featured EVP.

Launched in 2017, Pendula helps consumers communicate with businesses through automated text and emails in an effort to bring a more natural experience to automated conversations. The company has claimed to enable clients to achieve 500% increases in conversation rates and 430% stronger engagement compared to traditional email-based customer communications.

The business model involves partnering with enterprise marketing and customer teams across the telco, utilities, education, health and retail verticals. It is said to support the automation of workflows for omnichannel customer-facing businesses, as well as deliver consumer data-based insights to facilitate targeted upselling.

Operations are currently focused on Australasia and Southeast Asia. The fresh capital will be applied to a global expansion effort, especially in Octopus’ home market. “We have the UK Pendula contingent on the ground, waving the Pendula flag in London,” the company said in a social media post.

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• Topics
• Australasia
• Consumer
• Technology
• Support services
• Early-stage
• Australia
• enterprise software