Exit returns venture firm 15% of fund

An exit from communications technology company Pendula will return venture firm EVP around 15% of its second fund, in cash.

Pendula has been acquired by long-time partner, London-based Smart Communications.

Smart Communications announced on 1 August that it was being acquired by global private equity firm Cinven. Late-stage venture capital firm Accel-KKR, which invested in 2016 to scale up the business, was the vendor.

Smart Communications specialises in providing enterprise customers in regulated environments with secure omnichannel digital communications that include data capture and digital archiving.

The company’s Conversations Cloud platform is used by more than 700 enterprises worldwide including Zurich Insurance, Priority Health and Pacific Financial Group. The technology is designed to integrate seamlessly with enterprise software from Salesforce, AWS and other leading providers.

Pendula was founded in Sydney in 2017 by chief executive Alex Colvin. EVP first invested the following year.

The company’s communications orchestration technology includes intelligent failover capabilities that ensure that if a message fails to reach a customer via one channel, it is automatically re-routed to the next best channel.

Smart Communications said the acquisition will strengthen its ability to serve the complex needs of enterprises in highly-regulated industries – where customer attention is limited, compliance is non-negotiable, and operational efficiency is critical. Use of Pendula’s technology helps organisations increase completion rates, reduces manual effort while ensuring interactions remain secure and compliant across channels.

Colvin said: “At Pendula, we’ve always believed that today’s customers want real conversations, not one-way broadcasts. By joining Smart Communications we are combining our orchestration expertise with the global reach and proven capabilities of the Conversation Cloud platform. Together, we will help enterprises move faster, connect more intelligently, and deliver personalised experiences that drive action at scale.”

Partner Justin Lipman said EVP had backed Pendula through multiple rounds but the “patient capital” had proven successful.

Image: Pendula chief executive and founder Alex Colvin.