The company employs over 20 people, across San Antonio, Texas, Uruguay and Argentina.
PhoneIQ is the modern cloud-based phone system and contact center platform built for Salesforce. Available on the Salesforce AppExchange, it allows companies to easily deploy a telephony and cloud communications solution that scales globally and can be managed within their CRM. A deep integration between PhoneIQ and Salesforce, ensures every customer interaction is automatically recorded within the CRM while providing advanced capabilities that boost productivity like power dialing, voicemail drop, local presence, native reporting, and more.
PhoneIQ received a seed round of $2 million dollars to accelerate growth of it’s SaaS platform worldwide. Led by local investors in San Antonio, the round closed over two stages in 2020, enabling PhoneIQ to grow monthly recurring revenue by over 300% since the initial investment was received.
San Antonio native, Justin Leonor, who is the company’s Chief Revenue Officer, heads sales and all commercial efforts. Alvaro Vargas, the company’s CEO, and Justin were introduced by Khaled Saffouri, a prominent angel investor from San Antonio.
Khaled and Justin led together successful sales teams in the past at companies like Rackspace, DIalpad and more recently Inspired Elearning.
“We decided to concentrate all our efforts on the Salesforce platform. This gave us great focus as a company and enabled us to make product, marketing & sales and even hiring decisions with a very clear ideal customer profile in mind. As a good example, our support team is certified in Salesforce, which our customers love since we not only provide great software that enhances their customer experience but also ensure we set it up to achieve the outcome they envisioned on their CRM. This unique value proposition and our best-in-class integration, have allowed us to successfully compete with industry leaders.
The investment has helped PhoneIQ further fuel product development and sales.
PhoneIQ was born as a telephony and call center platform. With his new investment, the startup plans to launch support for SMS/MMS for Salesforce in Q3 2021, and continue to evolve into an omnichannel solution that integrates additional channels like video, live chat, and more in the near future.
Additionally, the company plans to launch a completely new mobile app that fully integrates with Salesforce CRM in mobile, enabling reps to make and take calls from their mobile device while all call information is automatically synced with their CRM including call recordings, call outcome, and KPIs.
Since receiving the first round of investment, the company has been able to increase monthly recurring revenue by 300% in less than 12 months. The company plans on a similar growth rate for 2021. While most customer growth comes from the US, PhoneIQ already has customers in over 15 countries.
Globally distributed company
PhoneIQ has been built from the ground up as a global company, with product development, support and marketing located in Uruguay and inside sales managed from San Antonio Texas. The company also has employees in Argentina and Spain.
Having access to global talent has enabled the company to grow at a very efficient rate and access a much wider talent pool.