Capital One Ventures Makes Second Investment in Digital Completion Innovator Lightico in Less Than 10 Months
Posted on Jul 19, 2021 by Eytan Morgenstern
B2C Businesses are demanding seamless and complete digital journeys – beyond PDF eSignatures; Lightico reports 230% growth in 2020
New York, NY, July 19, 2021 –Lightico, whose next-generation digital completion platform is used by major companies in the insurance, automotive, telecom and financial industries to help millions of their customers eliminate roadblocks to deal completion, today announced an additional $15 million follow-on Series B funding round led by Capital One Ventures, bringing the total round to $27 million. Joining the round is Poalim Capital Markets as well as previous Lightico investors: Oxx, lool Ventures, Crescendo Venture Partners, Mangrove Capital Partners and Spinach Angels. Capital One Venture’s financial investment in Lightico, its second in less than a year, comes after scaling Lightico’s digital solution to fully digitize its own customer-facing interactions.
Lightico’s Digital Completion Cloud allows companies to gather eSignatures, collect documents, perform ID&V, accept payment and more in an app-free, secure manner through a simple collaboration window opened on the browser of the customer’s smartphone. These happen effortlessly while an agent is on the phone so that typically high-friction interactions such as insurance onboarding or auto loans are completed quickly and easily without the need for email, printer, fax or in-branch visits.
“Capital One seeks to consistently provide the best possible digital experience to its customers, and Lightico has been a valuable partner in keeping Capital One Auto Finance at the forefront of our industry,” said Steve Braskamp, Senior Vice President in Capital One’s Auto Finance division.
Adam Boutin, Partner at Capital One Ventures, adds: “Traditional eSign and eContracting solutions weren’t built for the millions of B2C, consumer-focused interactions that happen every day. Today, companies need to offer start-to-finish journeys that match consumer expectations, allowing them to complete everything from auto loans to insurance claims with just a few clicks on their phone. Our investment in Lightico is a result of the demonstrated value of the company’s platform, the rapidly accelerating adoption of Lightico’s Digital Completion Cloud, and its enormous market potential.”
The funds will support the rollout of Lightico’s Digital Completion Cloud, which significantly increases speed and conversion rate of customer-facing interactions. The remote-first, consumer-focused platform replaces siloed journeys that are slow and out of tune with consumer expectations of a seamless “Amazon” experience for everything. Furthermore, the customer-centric focus of the platform provides a superior experience to legacy B2B eSign solutions which were made for a PC-first, contract-focused experience.
Lightico helps companies improve efficiency and customer experience by speeding up turnaround times, increasing completion rates, and achieving higher NPS––significantly impacting bottom-line results. Clients include leading financial institutions, insurance providers, including companies like Capital One, MetLife, and GlaxoSmithKline. The solution integrates into businesses via an open API or through integrations into business systems like Salesforce and Nice InContact.
“The growth we’ve seen over the past 18 months has been incredible and the value of enabling consumer-facing businesses complete their journeys digitally and quickly has been proven time and again in terms of real ROI,” said Zviki Ben Ishay, CEO and Cofounder at Lightico. “We’re excited that Capital One continues to be part of our vision of creating effortless, efficient and digitally complete customer journeys will become a reality.”
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About Lightico
Lightico is an award-winning SaaS platform that empowers businesses to accelerate their customer journeys through automated workflows. With the Lightico Digital Completion Cloud™, companies leverage no-code workflows to easily collect customer eSignatures, documents, and payments, and authenticate ID in real time — straight from the customer’s smartphone. By unifying the previously siloed steps of customer-facing processes, businesses enjoy faster and shorter sales and servicing cycles, boost NPS, and significantly improve their completion rates. Hundreds of enterprises, including Fortune 500 companies in highly regulated industries such as finance, insurance, and telecommunications, rely on Lightico to make their customer journeys more efficient and streamlined.
Press Contact:
Peter Kohn for Lightico
212-595-7769
Eytan Morgenstern
917-688-4314