Elivio exits to Dixa for $US15m with a $3m ARR

Elevio (whose ARR is circa $3m) has exited to Dixa in a cash and share deal worth circa US$15m, providing a significant exit for its backers , AirTree and Blackbird Ventures.

Another great story for Innovation in Australia ! 

Who is Elevio? 

Elevio was cofounded by Chris Duell and Matt Trimarchi in 2015, was incubated at Startmate and after traction, raised circa $1m from VCs AirTree and Blackbird Ventures in a seed round in 2016.

What does Elevio do ?

Elivio is a user education and onboarding platform, allowing companies to upskill their user base with ease.

It provides product knowledge via user guides to customers - enables agents to quickly replicate best practice answers using machine learning, ensuring fast, standardised and correct answers for customers.

 It is simple, requiring no technical skill and its ‘Embeddable Assistant' allows support content to be delivered in-product or injected into any area of a website without involving developers.

Who are Elivio’s  customers 

Over the last 6 years Elivio currently serve 500 customers delivering over 16,000,000 answers every month. 

Customers include  Epic Games, eBay, AccuWeather, Loom and TripAdvisor.

Chris share a story about getting his first $million customer in Epic Games - this was a game changer! 

Who paid US$15m for Elivio and why? 

Dixa enables brands to serve customers across multiple channels from a single screen including social media, chat, voice and messaging apps, enabling an outstanding experience for both customers and agents. 

It doubled its revenues during 2020 and raised $50 million in funding to date with backing from Notion Capital, Project A Ventures and SEED Capital. The company has offices in Copenhagen, London, Kyiv and Lviv.

Mads Fosselius, CEO of Dixa says about the deal :

“We’re all about customer service , and the Elevio acquisition will enable us to bring the CX to another level . It’s about “close partnership, strong integration, unique tech” disrupt the world of customer service”.

The Investment Banker

Chris shared on a clubhouse chat that this deal would not have been able to be done without the amazing support and skills of their adviser Scott Colvin at Blackpeak Capital .

Says Chris (albeit after a few celebratory drinks)

 Scott painted a real detailed of the company - building a compelling factual story about Elivio and why Dixa had to acquire us. When he showed us the investor deck and proposal  that he was  taking to  Dixa, we were  blown away. This resulted in a valuation and offer made that was beyond our expectations - and worth every cent of the success fee paid!