Liveoak Technologies, an Austin, Texas-based provider of digital customer onboarding tools for the financial services industry, received a $2.5M equity investment.
The round was led by Broadhaven Capital Partners and Wild Basin Investments with participation from Manulife (John Hancock in the U.S.), Northwestern Mutual Future Ventures and Prudential’s Gibraltar Ventures. Additional investors include Techstars Venture Capital Fund, MATH Venture Partners, Zelkova Ventures, and Glenn Shimkus.
The company, which has raised $5.3m in venture capital to date, will use the funds to accelerate continued growth and expand its tools.
Founded in 2015 by Andy Ambrose and Pete Rung, Liveoak provides a customer engagement platform for enterprise customers to onboard remote customers, improve closing ratios, reduce transaction time and provide digital access for your customers.
Enterprise customers use the platform to streamline and digitize onboarding workflow and offer clients a remote experience that replaces in-person meetings. Representatives and their customers work together in a secure, digital conference room to complete required paperwork, verify identity, sign documents and fulfill regulatory requirements.
Liveoak is SOC certified by the American Institute of Certified Public Accountants, is a TechStars company and was selected as one of 50 Austin startups to watch in 2017. It also has an office in New York City.