Convergence Partners has acquired a significant minority stake in inQuba, a worldwide specialist in managed Customer Experience (CX) software, in order to accelerate its global expansion.

Idan Segal, CIO at Convergence Partners, said: “This is an exciting investment opportunity for us as inQuba aligns with many of the key themes that CPI targets, including Software-as-Service (Saas) businesses, tailored technology solutions for specific industry verticals and local IP that is globally exportable. We are looking forward to actively contributing to this growth phase of the company.”

The inQuba investment will be housed in Convergence Partners Fund I (CPI), the vehicle through which Convergence Partners invests in software businesses among other key pillars of the African ICT market.

Founded by serial entrepreneurs Michael Renzon and Trent Rossini, inQuba has established itself across four continents.

Its client base consists of multinational corporations from the financial services, insurance, retail, travel and telecommunications sectors, including Goodyear, Virgin Mobile, Suncorp, Telkom South Africa, and Vitality Life, among others.

inQuba enables its clients to create superior customer experience through its proprietary software platform.

The event-driven platform collects and analyses structured and unstructured data in real time, thus allowing clients to more effectively listen to, learn from, and engage with customers.

The outputs of the platform enable relevant management and staff within client organizations to deeply understand perceived performance across all key customer interactions, identify operational improvements and marketing opportunities and directly engage with customers to proactively drive the customer experience.

Michael Renzon, CEO of inQuba, said: “With Customer Experience being the latest competitive differentiator, we have seen companies globally investing heavily in CX in a race to offer a highly differentiated customer experience. CX, as an industry, is therefore set to grow substantially over the next few years.”

“In light of this, and the international success of our disruptive CX platform, inQuba will leverage the investment from Convergence Partners to further expand our presence and enhance our product offering to clients all over the world, with scaling in the US being a top priority,” he said.