ZoomInfo’s recent acquisition of Chorus.ai will help it reach more users. Here are the top-line bullets you need to know.
WHO ARE THE PARTIES TO THE DEAL?
- Chorus.ai: California-based Chorus.ai is a conversational AI platform that assesses sales calls and provide insights to sales and customer success teams. The platform also provides enterprise-wide insights into the customer’s preferences. The company caters to several enterprises including Zoom, Mavenlink, Qualtrics, Adobe, TripActions, and GitLab.
- ZoomInfo: Washington-based ZoomInfo provides market software, data, and information to over 20,000 businesses across the world. In 2020, the company hit a revenue of $476.2M, growing 62% year-over-year. It employs 1,800 people across the United States.
WHY DOES THE MARKET MATTER?
The acquisition strengthens ZoomInfo’s position in the conversational AI market:
- The conversational intelligence market is projected to reach a value of $13.9B by 2025, growing at a CAGR of 21.9%, according to Markets and Markets.
- North America is projected to be the largest share of the global conversational AI market by 2025. This is primarily due to the increasing investments and a growing presence of vendors who are exploring the use of AI and machine learning (ML) in various applications.