Augnet, a London, UK-based technology startup providing a SMS and messaging solution to reduce fraud and improve marketing features, secured £1.3M in funding.
The round was led by venture capital fund Triple Point Venture Fund, with participation from a number of industry experts and investors.
The company intends to use the funds to further develop the platform, support testing and invest in sales and marketing channels.
Led by CEO Daniel Gill, and Jekaterina Orlova, COO, Augnet has developed a patent-protected, encrypted solution that enables SMS message delivery to be tracked historically and in real-time. This facilitate the delivery of SMS messages from consumer-focused organizations to reduce fraud, increase accountability and improve SMS marketing features.
Run out of Cass Launch Lab, the company caters to an established network of organisations, from financial institutions to booking sites and airlines.