On June 14, Invoca, the cloud leader in AI-powered conversation intelligence for revenue teams, announced that it had raised $83 million in Series F equity financing. As a result, its valuation reached $1.1 billion. The new investment will bring the company’s total equity financing to $184 million. Silver Lake Waterman led the round with additional new investments from Hollyport Capital, Kingfisher Investment Advisors, and Fenwick & West, along with participation from existing investors Upfront Ventures, Accel, H.I.G. Capital, and Industry Ventures. This investment comes after a year of record growth, with Invoca surpassing $100M in run-rate revenue.
"When consumers look for value-added expertise in buying the right product or resolving an urgent service issue, they often escalate from digital self-service to speak with a human expert," said Gregg Johnson, CEO of Invoca.
"When consumers look for value-added expertise in buying the right product or resolving an urgent service issue, they often escalate from digital self-service to speak with a human expert," said Gregg Johnson, CEO of Invoca. "At Invoca, we're using data, automation, and AI to integrate these digital journeys with conversations in the contact center, helping brands deliver a delightful experience, drive revenue, and strengthen customer relationships. We are thrilled to partner with new and existing investors as we innovate in the rapidly expanding market for conversational AI."
"We believe Invoca has an exceptional vision to help marketing and contact center teams transform the customer experience with AI-powered conversation intelligence," said Shawn O'Neill, Managing Director and Group Head, Silver Lake Waterman. "The company has built a market-leading product serving an impressive roster of blue-chip customers. And the Invoca team has been focused on achieving the operational rigor and disciplined execution that it takes to thrive in today's market and beyond. We look forward to partnering with Invoca in their next stage of growth."
Invoca assists the leading consumer brands in purchase industries like automotive, telecommunications, healthcare, financial services and real estate. Its customers include AutoNation, Banner Health, DIRECTV, ORKIN, Rogers Communications, Mayo Clinics, and University Hospitals. The company was named a Leader in The Forrester Wave Conversation Intelligence Sales and Marketing, Q4 2021 report. It got the highest scores possible in the criteria of product and technology innovation, ease of use, integrations, market approach, and performance.
Invoca will invest in key areas and product innovation through organic development and acquisitions after the success of the DialogTech transaction in May 2021. In addition, it will broaden its geographic coverage beyond the United States and Canada to support customers in Europe, Mexico, and South America.