This news comes on the heels of its Series F round — the company plans to use the funding to focus on organic development and acquisition. Here are the top-line bullets you need to know.
Invoca, a provider of call tracking and analysis software, has raised $83M in a Series F. The round drew participation from Silver Lake, Accel, Kingfisher Investment Advisors, and Upfront Ventures, among others.
How’s the company performing?
- California-based Invoca enables organizations to analyze and collect data from calls with customers and prospects in order to better understand and enhance the customer journey.
- Last fiscal year, the company reportedly surpassed $100M in revenue. Its annual recurring revenue came in at more than $97M.
- Invoca currently caters to organizations like Banner Health, DIRECTV, Samsung, AutoNation, ORKIN, and Mayo Clinic.
- The company, which is currently supported by a team of nearly 400 employees, intends to increase its headcount by 50 this year.
- Invoca has 5 offices in the US.
Source: Invoca
Why does the market matter?
- The global conversational AI market is expected to reach a value of $18.4B by 2026, growing at a CAGR of 21.8%, according to Markets and Markets.
- The rise of social platforms and advancements in AI technology coupled with low development costs have contributed to industry growth.
