ReadyMode, formerly XenCALL, secures $4M
The funding comes via ScotiaBank’s Technology and Innovation Banking arm to accelerate ReadyMode’s growth strategy.
ReadyMode, a Vancouver-based software provider that ramps up call centre dialling speeds through a cloud-based predictive dialer, has secured $4 million to scale its operations. The venture debt funding is led by ScotiaBank’s Technology and Innovation Banking arm.
New name, who dis?: It appears that three teams within ReadyMode will be busy after this announcement: accounting, marketing and HR. While the accounting team will be navigating the influx of cash, the marketing team will also be busy with the implementation of a name change—XenCALL to ReadyMode. The refreshed moniker and brand are meant to usher in a new era for the company.
“Simply put, the needs of business communication have evolved and ReadyMode represents our way of evolving with it,” outlines ReadyMode CEO Jason Jantz. Lastly, the HR team will implement an impressive growth strategy that plans to raise employee headcount from roughly 60 to over 100 by year’s end.
Why it matters: Leaders in the Canadian financial sector are stepping up to support entrepreneurs. ScotiaBank’s Technology and Innovation Banking arm is an extension of the larger bank which provides funding, expertise, and support for high-potential tech ventures at any stage. A win-win situation, the funding gives ReadyMode a financial boost while ScotiaBank beefs up its portfolio.
This deal comes less than a month after the announcement of RBCx, a national platform meant to position RBC as a partner to startups at every stage of their journey. With a pair of major banks exercising similar mandates, it appears that the winners will be entrepreneurs.
Next steps: “The overwhelming adoption and success of our industry-leading software has significantly accelerated our growth and has brought us to an inflection point where we’re rapidly scaling the business,” says Jantz. “We’re going to leverage this new funding to assemble a diverse and highly skilled team that will be critical to ensuring we continue developing innovative, best-in-class solutions that revolutionize how organizations start sales conversations.”
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