Thursday, September 24, 2020

ArenaCX Raises $2 Million To Bring Its Marketplace Approach To The Customer Experience Industry

RALEIGH, N.C., Sept. 24, 2020 /PRNewswire/ -- ArenaCX, the customer service marketplace delivering on-demand support to businesses, announced today it has raised $2 million in a seed funding round led by Sovereign's Capital. The new capital will help ArenaCX further enhance its software platform, including integrations with more customer support software providers.


ArenaCX is transforming how customer service leaders engage and manage labor to create customer experiences that are fully aligned with consumer expectations and drive business outcomes. ArenaCX's network of integrated contact centers aims to make it seamless for businesses to access the amount of support they need on demand. The company's management software platform empowers support leaders to achieve key success outcomes while managing the optimal mix of cost and speed resulting in less time and money spent in traditional functions like hiring, training and scheduling.


"It is apparent now more than ever that business leaders need to make their organizations agile and adaptable," said Alan Pendleton, President of ArenaCX. "In the current market, it can be extremely difficult and sometimes painful to adjust a support team quickly enough without alternating between layoffs and recruiting. ArenaCX provides a way for leaders to maximize their support investments, getting better results – sometimes with the same resources – as a result of competition."


The customer service industry is ripe for disruption in terms of quality of support and cost.  In contrast to others that are developing niche solutions or relying exclusively on AI bots, ArenaCX comprehensively transforms customer service support at its core in terms of how businesses manage in a results-first and cost-effective way, while remaining nimble and agile to changing customer demands.


"For businesses, in-house customer service is often a distraction, and outsourced options frequently provide a downgraded experience," said Jake Thomsen, Partner at Sovereign's Capital. "Third party options often have opaque contracts and little accountability, and it's not a space known for innovative approaches for win-win-win solutions. ArenaCX is changing all of that. Their platform highlights best-in-class customer service providers who are rewarded for performance, while ensuring customers get the best outcomes for their end users. Sovereign's Capital is excited to serve the ArenaCX team as they build on the future of  customer experience to benefit customers, service providers, and end users."


"Executive leaders need to think differently about how to deploy people and technology to provide the quality of experience customers expect," explains Doc Shufelt, CEO of ArenaCX. "ArenaCX is uniquely positioned to help companies deliver not only a better support experience to their end users, but to do so while improving their businesses' bottom lines. We are fired up to bring our innovative approach to an industry in need of disruption."


FOR BUSINESSES
ArenaCX gives companies the flexibility to scale customer service teams up or down with support demand by dynamically matching businesses' support volume with trained agents in its contact center network.


ArenaCX has helped deliver significant results for its clients. Wireless service provider Republic Wireless achieved a 32% reduction in total customer service costs since integrating ArenaCX into its internal support operations.  At the same time, Republic saw its customer experience improve as well.  In fact, Netomi's Customer Service Benchmark report recently recognized Republic Wireless as the highest rated email support provider, out of 1,000 telecom companies analyzed worldwide, and Republic Wireless was recognized by Forbes as one of the 100 Most Customer-Centric Companies in 2019.


"ArenaCX completely transformed our approach to customer support for the better," said Chris Chuang, CEO of Republic Wireless. "Instead of focusing on recruiting, training, and scheduling support agents, our customer service leaders now are freed to focus on the actual customer experience and thus drive stronger strategic business outcomes. Every KPI and business measure improved dramatically."


ArenaCX's contact center outsourcing marketplace is supported by powerful software, which allows healthy competition to flourish and businesses to react in near-real-time to observable improvements in business metrics. ArenaCX plugs directly into a business' existing customer service software suite, using machine learning to categorize, prioritize, and assign customer support tickets. The software has native forecasting capabilities and dashboarding that gives support leaders total control over their operations.


"What really appeals to me about ArenaCX is its ability to easily hook into our internal support operations and existing BPO relationships, so my internal team could focus more on strategy," said Terry Munroe, Head of Customer Experience at Surprise.com.


ArenaCX can bring value to businesses of all sizes, from startups that are just developing a customer service function to global enterprises that want to achieve a new level of operational control, transparency, and strategic alignment with their contact center partners. 


FOR CONTACT CENTERS
ArenaCX's innovative approach focuses on aligning the incentives of brands, end-users, and contact centers. ArenaCX helps contact centers increase revenue and improve profitability by simplifying customer acquisition, ensuring transparent expectations through use of a balanced scorecard, and ensuring a level competitive playing field. In stark contrast to the traditional model which focuses on penalties for poor performance, with ArenaCX, contact center's are rewarded for outperforming their peers in the network. The better the contact center performs, the more ticket volume it will earn, resulting in a virtuous cycle of continuous improvement that benefits the contact centers as well as the brand. Customer service innovators NexRep and CustomerHD are two of the first contact center partners to join the ArenaCX marketplace.


About Us
ArenaCX is democratizing the customer service industry. ArenaCX is delivering cost savings to businesses and transforming customer experience for the better by incentivizing contact centers through competition. ArenaCX was born out of telecom innovator Republic Wireless, whose award-winning operations lead its industry in both cost-to-serve and customer satisfaction measures. ArenaCX launched in 2020 in Raleigh, NC.


SOURCE ArenaCX



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