Sydney's Pendula powers up with $6.75m funding round

Sydney's Pendula powers up with $6.75m funding round

The Pendula leadership team. (L-R) Alex Train, Alex Colvin (CEO and founder), Yasuyuki Ogi, Georgia White, Allan Tuback, Ben Albrecht.

Conversational SMS and email platform Pendula has received support from ASX-listed financial services firm MA Financial Group (ASX: MAF), which partook in the tech company's latest $6.75 million funding round.

Formerly known as Moelis Australia, MA Financial committed $5 million to the Sydney-based company's raise, joining returning investor Equity Venture Partners (EVP) as Pendula seeks to increase its customer base.

Launched in 2017, Pendula is a technology solution that allows consumers to communicate with businesses through automated SMS messages and emails. Pendula says customer experiences are defined by being 'more human' than is expected from automated conversations.

The company's platform allows business users to create two-way conversations with their customers using drag and drop functionality, removing the need for any developer or coding experience.

Pendula works with a roster of emerging, established and iconic brands including amaysim, Cancer Council, TEDX, Ramsay Health Care and Origin Energy, and is working towards its next stage of scaling customer acquisition channels.

In addition, the tech company hopes the funding round will assist in global expansion, specifically into the USA and Europe.

"This round saw a significant amount of overseas interest, with MA Financial's style, ambition and alignment with our growth plan a complete standout," Pendula CEO and founder Alex Colvin said.

"Everyone at Pendula is primed and ready to deliver on our goal so being backed by investors as established, regarded and collaborative as the team over at MA Financial gives us an extra incentive to push our business on to the global stage.

"We are in great company within the MA Financial line up including incredible software businesses like ROKT, CitrusAd, Ansarada and Comestri."

MA Financial Group investment director Will Botha said the firm was excited to back yet another Australian software business.

"Pendula has built a very impressive product that solves real-world problems for businesses as they look to better interact with their customers," Botha said.

"Deep communications workflow functionality that can be accessed through an easy-to-navigate user interface has resulted in a growing list of impressive customers. 

"On top of this, the team has a deep focus on solving complex problems and we are looking forward to helping the business scale into the future".

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