TouchCommerce, a Los Angeles-based startup that sells online chat customer service to companies like Vonage, has just raised $10 million in what looks to be a fifth round of funding. The company, known as InQ until changing its name last fall, has now raised $31 million in its 10-year history, from firms like Partech International, Emergence Capital, Dolphin Equity Partners and Hudson Ventures (all of which participated in the new funding).
TouchCommerce isn’t the only startup whose technology prompts a pop-up chat screen to assist customers during their online sessions, either at the visitor’s request or when it senses that someone is stuck. It is, however, one of the few that gets paid when that customer buys something; most others charge a subscription fee.
As Forrester Research recently pointed out, the technology is particularly useful right now to banks, looking to strengthen their bottom lines through more customers and their deposits.