Photo above: Invoca having some Halloween fun
Last year in an article about speech analytics we told you 72 percent of companies thought speech analytics could allow for improved customer experience. In the piece, we mentioned Invoca as one of the players in the market. We’ve also covered the company more recently in a story about feelings and brand loyalty as well as another on CX metrics in the age of AI.
The company’s continued progress has caused investors to give them $56 million led by existing investor Upfront Ventures and new investor H.I.G. Growth Partners, with participation from other investors including Accel and Morgan Stanley Alternative Investment Partners.
This latest funding round comes on the heels of 75% year-over-year bookings growth in the first half of 2019. Invoca serves 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. Invoca plans to double headcount over the next three years and was recognized today as a Fortune Best Workplace — a testament to the company’s investment in building a transparent, supportive, and inclusive culture.
“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, CEO 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.”
The company’s funding is further validation of the future of work market – companies are becoming more efficient and productive by merging the best of AI and human collaboration – a definition of the future of work.