Triple Point Venture Fund has led the investment round into Augnet alongside other investors.
Augnet is a London-based start-up which has technology with the capability to track SMS message delivery. It ensures a 100% delivery rate and allows users to initiate compliance, governance and quality standards.
The system creates an encrypted network layer signalling event that works to confirm that messages have been delivered and allows SMS messages to be traceable in real time.
Daniel Gill, Founder and CEO of Augnet says of his company: “We asked ourselves how we could solve a long-running issue in the SMS and message space. From this question, Augnet was born.”
Gill is thrilled with the investment, commenting: “We are very excited to be working with Triple Point. Gaining a partnership with them at this early stage is a strong endorsement of our model. Augnet is well placed to work with some of the largest technology companies in the world in the near future. At just one-year-old, we are pleased to have achieved recognition from such a highly respected VC.”
Gill continues: “We believe that with Triple Point backing and guidance, we are well placed to achieve our high-growth plans at speed and reach our full potential in the global marketplace.”
Ian McLennan, Head of Venture at Triple Point, said: “The average consumer knows SMS as a simple, quick way to send messages. High open rates offer companies growing possibilities to use this platform. By increasing accountability and efficiency in the delivery of SMS messages, Augnet is in a strong position to help large corporates solve the significant challenge they face in targeting consumers via SMS technology.
“We look forward to working with Daniel and Augnet’s other investors to help realise this potential.”
Augnet is said to now be giving back to the technology community and is investing in other start-ups to enable them to grow as successfully as they have themselves. They hope to use this investment to develop their platform and support their testing phase, as well as expand their marketing.