3CLogic Receives $9m in Series B Financing

Transaction Overview

• On March 26, 2020, 3CLogic, a leading omnichannel communication solutions provider for ServiceNow and other major CRMs, announced its $9m Series B financing.
• True Blue Partners led this growth equity syndicate as part of its merchant banking offering with Capitan Investment Partners. Other participants include Blu Ventures, Bilgolia Capital, Force 3 Partners and other existing investors.
• This funding will allow 3CLogic to accelerate its expansion worldwide, with a special focus on global 2000 enterprises engaged in the digital transformation of their support and service organizations.

3CLogic Omnichannel Approach in the ServiceNow Ecosystem

• As platforms capable of managing communications data like email and text through CSM functionalities, ServiceNow and other CRM systems lack a critical piece in the omnichannel approach: voice functionality.
• 3CLogic fills that gap in ServiceNow’s go-to-market strategy as the only voice solution embedded in the ServiceNow Agent Workspace.
• By aligning closely with the ServiceNow platform, 3CLogic brings certain sales efficiencies and reduces its cost of sales and marketing, the largest expense line item in a high growth SaaS company

Cloud Based Call Center Solutions Allow for Work-From-Home Environments

• Despite the growing adoption of digital channels, voice remains a crucial part of the customer service value chain, especially when issues are complex, time-sensitive, or during times of crisis.
• 3CLogic, like other cloud-based communications providers like Zoom, will be a net beneficiary of the work/school-from-home environment driven by COVID-19.
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Nasdaq Composite Index vs. ServiceNow vs. Index of Major Cloud Contact Center Providers – % change in value

TBP was a co-investor in this transaction.