SANTA BARBARA, Calif.,
May 24, 2021 /PRNewswire/ -- Invoca,
the leader in conversation intelligence for revenue teams, today
announced that it has acquired DialogTech, an AI-powered call
tracking and analytics solution for marketers, in a combined cash
and stock deal. With this acquisition, Invoca extends its
leadership in the $4.8 billion
conversation intelligence market and is on track to exceed
$100 million in revenue. The company
now has over 2,000 customers, more than 300 employees, and serves
the top consumer brands in considered purchase industries,
including ADT, AutoNation, DISH, Mayo Clinic, TELUS, and The Home
Depot.
Enabling Revenue-Focused Teams to Harness the Power of
Conversation Intelligence
This acquisition comes at a major inflection point for the
conversation intelligence category. Due to recent policy changes
from Apple and Google, brands can no longer rely on third-party
cookie data to drive their marketing campaign strategies. At the
same time, call volume is surging due to changes in buying behavior
brought on by the pandemic. So, brands are increasingly relying on
robust first-party data from conversations to better understand
those consumers and make critical business decisions.
From marketing and sales to eCommerce and customer experience,
Invoca enables revenue teams to create better buying experiences,
drive more leads, and increase revenue. Invoca's acquisition
of DialogTech will bring a stronger investment in product
innovation, deeper expertise in key industries, and a broader
ecosystem of technology partners, agencies, and digital consulting
firms.
"In this digital era, companies are embracing AI to better
understand their consumers and changing market dynamics. In
industries where consumers are making complex buying decisions–like
financial services, health care, and automotive–brands need to
embrace the right combination of digital experience and human
expertise," said Gregg Johnson, CEO
of Invoca, who will lead the combined company. "With the
acquisition of DialogTech, Invoca strengthens our AI-powered
conversation intelligence platform. Together, we will empower
marketing, sales, and eCommerce teams to optimize digital + human
buying experiences and accelerate revenue growth."
Chosen by the Leading Consumer Brands Across Considered
Purchase Industries
DialogTech has been recognized as a pioneer in call tracking and
analytics and serves Fortune 500 brands, agencies, and fast-growing
companies. With the newly combined customer bases, Invoca
serves market leaders across a broad array of industries,
including:
- Telecom: top 3 US wireless carriers, top 3 Canadian
telecom providers, and 6 of the top 10 US cable companies
- Healthcare: 3 of the top 10 US health systems, and 4 of
the top 6 US dental service organizations
- Financial services: 4 of the top 6 US property &
casualty insurers, and 3 of the top 10 US mortgage lenders
- Senior care: 4 of the top 10 US home care franchises,
and 2 of the top 4 US senior living providers
"This move enables us to be an even better partner to
enterprises and agencies looking to optimize their marketing and
drive sales," said DialogTech CEO, Doug
Kofoid. "Together as Invoca, our combined company will
deliver an unrivaled solution for conversation intelligence, with
the most innovative technology, expertise, experience, and
resources in our industry."
The acquisition of DialogTech follows Invoca's recent release of
Invoca for Sales, expanding its solution set to serve revenue teams
in contact center sales as well as marketing, customer experience,
and eCommerce.
As part of the transaction, DialogTech divested the Swydo
operating unit. Swydo will continue to partner as an independent
entity with Invoca and DialogTech.
Union Square Advisors LLC acted as exclusive financial advisor
to DialogTech.
More information:
- Invoca + DialogTech - Accelerating Revenue with Conversation
Intelligence:
https://www.invoca.com/blog/invoca-acquires-dialogtech
About Invoca
Invoca's Active Conversation Intelligence
platform enables marketing, sales, customer experience, and
eCommerce teams to understand and immediately act on the
information consumers share via conversations. Through deep
integrations with leading technology platforms, revenue teams can
turn conversation data into automated action to enhance every
digital touchpoint and human interaction, leading to better
experiences, more conversions, and higher revenue. Invoca is
trusted by top brands like ATI Physical Therapy, Comfort Keepers,
DISH, Mayo Clinic, Mutual of Omaha, Sylvan Learning, Truist, and others.
Invoca has raised $116M from leading
venture capitalists, including Accel, Upfront Ventures, H.I.G.
Growth Partners, Morgan Stanley, and Salesforce Ventures. For more
information, visit www.invoca.com.
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SOURCE Invoca