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Business

Invoca Revamps Under Rebranding Effort, $20 Million in New Venture Capital Funding

Now with a new name, Santa Barbara’s former RingRevenue continues hiring and expanding — with plans to add 40 more employees

The former RingRevenue name sounded cool, but focus groups just did not understand what the Santa Barbara business actually did.

The cloud-based, inbound call marketing company has worked since 2008 to better inform advertisers of how their customers came to find and buy their services.

In a brainstorm meeting last fall, with rebranding efforts already well under way, CEO Jason Spievak scribbled two words on a dry erase board that — when combined — finally fit: “inbound” and “voca” for voice.

And so Invoca was born.

“It’s been very well received,” Spievak said of the company name change, made official last October.

“We wanted something that said voice, and we wanted something that said inbound.”

A new website domain, Twitter and Facebook pages soon followed, along with hiring 30 employees at the fast-growing marketing automation business that logged a 650 percent increase in revenue the past two years.

The $20 million Invoca secured in funding from Accel Partners and others in January guaranteed the upcoming hiring of at least 40 more employees in sales, marketing and more — workers Spievak said he wished were hired yesterday.

Even more, with 90 employees and financial backing from Salesforce.com, Invoca earlier this month launched a brand new intelligence technology.

An infusion of venture capital and dozens of brand-new employees spell a new direction — and name — for the former RingRevenue, now rebranded as Invoca. (Invoca photo)
An infusion of venture capital and dozens of brand-new employees spell a new direction — and name — for the former RingRevenue, now rebranded as Invoca. (Invoca photo)

Spievak said Invoca Signal evolves call tracking to call intelligence, allowing customers — many of them Fortune 1000 and 5000 companies — to capture information callers say on the phone to retarget advertisements to them online.

Several companies track the digital path people take to purchase products, such as web searches and browsing, but the trail is lost once someone picks up the phone.

“We close that loop,” Spievak told Noozhawk. “It is the greatest innovation in marketing for the call channel since call tracking.”

Invoca’s green logo, formerly blue, suits Spievak better, the CEO said last week, sitting in the downtown headquarters the company took over last year at 1025 Chapala St.

The second floor of the leased building, not long ago vacant and under construction, now houses dozens of engineers, finance employees and more.

Invoca just opened a satellite office in San Francisco, and Spievak said he’s already looking for more downtown office space, debating whether to move to one larger location or to lease an additional building.

Either could have an impact on the culture of the company, which serves more than 3,000 marketers and employs workers with an average age of 27.

Whatever Spievak decides, he said Invoca plans to continue growing a large, happy customer base — and employees — while keeping to its simple yet successful equation.

Noozhawk staff writer Gina Potthoff can be reached at .(JavaScript must be enabled to view this email address). Follow Noozhawk on Twitter: @noozhawk, @NoozhawkNews and @NoozhawkBiz. Connect with Noozhawk on Facebook.

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