THANK YOU FOR SUBSCRIBING
The company has often been appreciated for its great work culture, a testament to the company's investment in nurturing a transparent, supportive, and inclusive culture. Since the first half of 2019, Invoca has seen a year over year bookings growth and aims to double its headcount in the years to come.
FREMONT, CA: Santa Barbara-based startup Invoca raised USD 56 million in a new funding round led by existing investors Upfront Ventures and new investors H.I.G. Growth Partners, with participation from other investors including Accel and Morgan Stanley Alternative Investment Partners. Invoca is a leader in Artificial Intelligence-powered call tracking and conversational analytics, and with this round of funding has taken its total capital to USD 116 million.
Since the first half of 2019, Invoca has seen a year over year bookings growth and aims to double its headcount in the next three years. The company has often been complemented for its great work culture, a testament to the company's investment in building a transparent, supportive, and inclusive culture. Currently, Invoca provides its services to innovative marketers at leading brands like Dish Network, U.S. Bank, Dignity Health, and Gusto, and continues to deepen strategic partnerships with Google, Facebook, Adobe, and Salesforce.
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
See Also: Top PLM Companies
"With digital advertising spend expected to near $400 billion next year, marketers are investing heavily in Google and Facebook to drive awareness and customer acquisition," said Gregg Johnson, C.E.O. of Invoca. "Yet over 90% of commerce still happens offline via contact centers and retail stores, especially in industries with more complex, expensive products. Brands are struggling to connect digital advertising investments to the human conversations that drive sales. Invoca addresses this gap and is helping sophisticated marketers like Dish Network drive a 60% increase in conversion rates and 15x lift in conversions."
With this new funding, Invoca looks to accelerate the development of its award-winning products and broaden its ecosystem of partners in digital advertising, marketing technology, CRM, and affiliate marketing. Invoca released Signal Discovery earlier this month, which uses a proprietary unsupervised machine learning model to analyze buying conversations between consumers and experts in the contact center. This model helps marketers to understand the factors affecting consumers' intent to buy, like competitive promotional campaigns, in real-time.
"Invoca made a huge leap by applying A.I. to sales calls. Marketers now discover the purchase intent of consumers similar to how valuable it is knowing the terms a lead has typed into a Google search," said Mark Suster, managing partner at Upfront Ventures. "With computers in every customer's pocket, calls have become an insanely important marketing channel for every brand."
Check Out : Top Artificial Intelligence Solution Companies in UK
More in News