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California company draws investments from Ohio sources

A California-based customer experience management company that is rebranding itself as OvationCXM announced it has raised $20 million in a combined Series C and debt funding round that includes participation from KeyBank, JobsOhio Growth Capital Fund and JumpStart Ventures.

OvationCXM, previously known as Boomtown Network Inc., said in a news release that the funding round was led by Telstra Ventures and brings its overall capital raised to date “to more than $40 million.” Others participating in the round were Savano Capital Partners, Capital One Ventures, Nyca Partners, Neventa Capital and CIBC Innovation Banking.

The funding will support “client expansion, plans for new capabilities and advanced technology features,” Tiburon, California-based OvationCXM said in the release. It will help the company solve customer experience (that’s the CXM part of the name) challenges in real time, “while businesses are interacting with customers,” OvationCXM said.

The company’s flagship product, called CXMEngine, “helps enterprises deliver exceptional customer experiences by unlocking customer data visibility and enabling cross-channel communication and collaboration,” according to the release.

KeyBank began using CXMEngine last year as part of an effort to digitally transform Key’s merchant services business.

At the time, KeyBank noted that its use of CXMEngine, combined with an equity investment in XUP Payments, help the merchant services business “overcome customer, technology, and speed-to-market challenges by offering a fully digital experience in addition to traditional customer channels.”