Collectly raises some $2 million to move debt collection onlineJuly 18, 2017 - 10:42 AMT PanARMENIAN.Net - A U.S.-based Armenian startup called Collectly has raised $1.9 million in seed funding to grow its nascent business, TechCrunch reports. While most debt collection agencies still use paper mailings and phone calls in their attempts to recover their clients’ money, Collectly is moving its interactions online, tracking and collecting data from debtors in how they respond — or don’t respond — to its outreach. By creating a more personalized outreach and collection strategy, the company attempts to provide people who owe money with appropriately structured repayment solutions that allow clients to recoup some of their losses, even if debtors can’t pay the whole amount owed. According to CEO Levon Brutyan, who worked at a collections agency in Europe before founding the startup, that enables Collectly to recover two to three times as much debt as agencies using traditional methods. Today Collectly’s focus has been on the healthcare industry, and the company is looking to sign up the 100,000 different medical practices around the country. To help with that effort, the team is working on integration with Athena Health and DrChrono, which are some of the largest electronic health record providers. As it looks to serve more customers, Collectly raised a little less than $2 million in funding to invest in the business. That seed financing was led by GoAhead Ventures, with participation from Lightspeed Venture Partners, Index Ventures, WTI, IT-Farm, Cabra.vc, Granatus Ventures, HIVE and OnWave Ventures. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. CSTO recognizes Armenia’s sovereign right to withdraw Tasmagambetov has said that if Armenia decides to leave the organization, “it will be the sovereign right of Armenia.” Ex-President: Only removal of “defeatist” rulers can save Armenia Former Armenian President Serzh Sargsyan has shared a message on the 109th anniversary of the Armenian Genocide. |