Conversica, Inc., a Foster City, CA-based conversational artificial intelligence (AI) platform for business, secured a $31m Series C funding round.
The round, which brings the total invested capital to $87m, including $34m raised in a Series B round and $22m in Series A rounds, was led by existing investor Providence Strategic Growth Capital Partners L.L.C. (PSG), an affiliate of Providence Equity Partners, with participation from other existing investors Toba Capital and Kennet Partners and from new investors CIBC Innovation Banking and Savano Capital Partners.
The company intends to use the funds to accelerate global sales and marketing expansion, as well as to continue development of its technology, which was recently granted a U.S. patent for an AI-powered system that automatically carries on conversations.
Led by CEO Alex Terry, Conversica uses conversational AI technologies to power intelligent assistants that automate routine, yet important, business conversations. The company’s flagship AI Sales Assistant engages marketing leads in human-like conversations to qualify more of them for sales. Additional assistants work in higher education, in the automotive industry, and in customer success organizations, to boost satisfaction and retention.
The company has a global customer base of more than 1,000 organizations, including Box, Chrysler, Snowflake Computing, CenturyLink, the Sacramento Kings and Oracle.