Sharpen Technologies lines up $15M in growth capital

Sharpen Technologies, an Indianapolis-based developer of cloud-based customer service software, has secured $15 million in growth funding from a collection of local and national venture firms.

The company, founded in 2011 and known as Fathom Voice until 2016, promotes its software platform as a tool for enhancing customer service by providing better support and training for call-center agents.

“Our latest round of funding will help us continue the momentum we achieved in 2018 by further growing our sales team, extending our market reach, and expanding on our already full-featured cloud contact center platform,” said Mike Simmons, Sharpen’s chairman and CEO, in a written statement.

Simmons was founder and CEO of T2 Systems, a high-growth software and technology firm that grew to more than 300 employees before being acquired by Thoma Bravo in 2016.

Investors think Sharpen is poised to capitalize on companies’ focus on customer service.

“With customer service now one of the most important competitive differentiators across virtually all industries, Sharpen is in a prime position to accelerate growth,” David Kerr, managing director for Allos Ventures LLC, one of the investors, said in written comments.

Other local investors in the funding round are Indiana University’s new Indiana Philanthropic Venture Fund, Elevate Ventures, Collina Ventures and Jupiter Peak LLC. Others in the round are Cultivation Capital, F&M Investment Office LLC, Lightchain LLC, and the family office of Rodger Riney, the founder and former CEO of Scottrade.

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