BGF has exited from Semafone, a provider of data security and compliance solutions for call and contact centres, after it was acquired by Livingbridge.
Semafone was founded in 2009 to tackle the Payment Card Industry Data Security Standard (PCI DSS) compliance challenges faced by the UK contact centre industry. Its secure payment platform enables contact centres and other businesses taking card payments by phone to reduce compliance costs by up to 80 percent. Semafone is based in Surrey, and employs over 90 people in Europe, North America and Australia, with a customer base spanning over 25 countries.
Gary E. Barnett, CEO of Semafone, said: “BGF has been a key partner for the business over the last seven years. Their funding has enabled us to deliver rapid growth and fulfil our potential as the number one provider of data security and compliance solutions for the global call and contact centre market. Thanks to their investment, we are now in a position to look forward to the next phase of growth which will see us double down on our operations in the US and expand into other international markets.”
William Gresty, investor at BGF, added:“Semafone represents one of BGF’s long-term investments, having backed the business since 2014. During the investment hold period Semafone has demonstrated proven and consistent subscription revenue growth across all channels, generating significant profitability. We are proud to have supported the business through this period of significant growth, both internationally and through the development of its product suite to become an omni-channel provider. We wish them all the best as they gear up for even further growth in these markets.”
