Mojo-CX Raises £2.25m to Enhance AI Customer Service Tools
Deal News | Jan 17, 2025 | Business Cloud
Manchester-based SaaS business Mojo-CX has successfully secured £2.25 million in investment led by NPIF II Praetura Equity Finance. Founded in 2018 by CEO Jimmy Hosang, Mojo-CX specializes in AI-based solutions to analyze customer service conversations and train staff, subsequently enhancing user experiences. With additional offices in Birmingham, the company plans to use the funds to advance its technology, introducing features like voice AI and automated quality assurance. The initiative is also set to double its sales and engineering teams. Additional contributions came from River Capital, Foresight, Greater Manchester Combined Authority, and MEIF. The investment marks a significant growth phase for Mojo-CX and a commitment to creating jobs in the North West, supported by the Northern Powerhouse Investment Fund II as part of its broader goal to boost businesses across Northern England. Michael Rees of Praetura Ventures expressed the impact of Mojo-CX's tools in providing actionable insights that enhance customer service quality.
Sectors
- Software as a Service (SaaS)
- Artificial Intelligence
- Financial Services
Geography
- United Kingdom – Mojo-CX is based in Manchester with operations also in Birmingham, UK.
- Northern England – The North of England is highlighted due to the Northern Powerhouse Investment Fund's role.
Industry
- Software as a Service (SaaS) – Mojo-CX is a SaaS company providing AI-based customer service solutions.
- Artificial Intelligence – The company utilizes AI to enhance customer service by analyzing conversations.
- Financial Services – The article involves substantial investment funding in a tech company.
Financials
- £2.25 million – Total amount raised by Mojo-CX in the investment round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Mojo-CX | Target Company | Company | A Manchester-based SaaS business specializing in AI customer service tools. |
| NPIF II Praetura Equity Finance | Lead Investor | Company | A private equity firm leading the investment round. |
| Jimmy Hosang | CEO | Person | Founder and CEO of Mojo-CX. |
| River Capital | Investor | Company | One of the investors in the funding round. |
| Foresight | Investor | Company | One of the investors in the funding round. |
| Greater Manchester Combined Authority | Investor | Government | One of the investors in the funding round. |
| MEIF | Investor | Company | Midlands Engine Investment Fund, involved in the investment round. |
| Michael Rees | Investment Manager | Person | Investment Manager at Praetura Ventures. |