Lightico, an Israeli startup that offers an enterprise-consumer interaction platform, has acquired Vizolution, a British provider of customer experience technology. The terms of the deal were not disclosed.
Interestingly, the acquisition came just a few months after Lightico was forced to make layoffs. In February Jewish Business News reported that the company was forced to let go of 25% of its workforce, about 20 people.
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At that time, Lightico’s CEO said of the layoffs, “We must control our own destiny and when the market recovers we can once again raise funds and recruit employees.”
But it seems the “new funds” he spoke of are going to the acquisition of Vizolution.
The two companies said the deal will combine Vizolution’s “transformational agent-assisted and self-serve solutions” with Lightico’s “powerful Compliant Digital Completion Platform,” including its workflow-integrated eSignature, document collection, and identification & verification services. Additionally, Vizolution’s team will join Lightico’s organizational structure with Zviki Ben Ishay, Lightico’s CEO, at the helm and Bill Safran, Vizolution’s CEO, transitioning to Chief Strategy Officer for the 150-person company.
Founded in 2013 and headquartered in Wales, Vizolution boasts that its omnichannel software platform “optimizes interactions” in remote channels and is used by global enterprises across 12 countries to enhance their offerings.
Founded in 2015 by CEO Zviki Ben-Ishay, COO Omri Braun and CTO Justin Josh, Lightico declares its mission is to empower businesses to create “streamlined experiences in the last mile of the customer journey, where customers want to get things done, now.”
Lightico boasts that its next generation platform for digital customer interactions empowers businesses to collect forms, documents, e-signatures, photos, and consent to disclosures and to verify ID instantly, even while they have customers on the phone.
“As customer expectations for service companies to offer seamless, digital experiences continue to soar, bringing Vizolution into the Lightico fold will result in a more robust platform devoted to helping businesses deliver world-class digital experiences,” said Zviki Ben Ishay, Lightico’s CEO. “With this acquisition, we are combining the leading digital completion solutions in North America and Europe to become the de facto global leader, and are well-positioned and fully funded to scale rapidly across the financial services and telecom industries where demand is at an all-time high.”
