Liverpool SME funding specialist River Capital makes £500,000 equity investment into contact centre technology company Mojo CX. Tony McDonough reports

River Capital’s EIS AI fund – fund:AI’ – has completed a £500,000 equity investment into contact centre technology company Mojo CX.

Liverpool-based River Capital, which provides loan and equity funding for SMEs across the North West, has contributed to Mojo CX’s £2.25m equity round.

This investment round was led by NPIF II – Praetura Equity Finance, which is managed by Praetura Ventures as part of the Northern Powerhouse Investment Fund and also current investors, Foresight and the Greater Manchester Combined Authority.

Founded in 2018 by chief executive Jimmy Hosang, Manchester-based Mojo CX provides SaaS-based customer experience software to multiple contact centre clients.

By using speech to data transformation and generative artificial intelligence, Mojo is able to support contact centre campaigns by optimising call outputs, supporting quality assurance teams and building out scripts in real time.

Mojo will use the investment to develop its technology by introducing new features, such as voice AI and automated quality assurance to benefit agents in real-time. The business also plans to double the size of its sales and engineering teams.

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Jimmy Hosang said: “With this new injection of capital and ideas, MOJO-CX will accelerate our vision of redefining customer contact, for customers, for brands and for employees through the use of AI.

“As a proud Northerner, this funding also allows us to deepen our commitment to the region by creating high-quality jobs and fostering a thriving tech community here in the North West.”

River Capital investment director, David Walters, added: “Contact Centre technology is a space that we understand well.

“Fractional uplifts in performance can make a huge difference to campaign results by improving measurements like average handling time, wrap time and ultimately customer satisfaction.”

The River Capital investment was supported by Daniel Hayhurst of Brabners who provided legal advice.