Invoca, a Santa Barbara, Calif.-based provider of an AI-powered call tracking and conversational analytics platform, raised $56m in funding.
The round, which brought total funding raised to date to $116m, was led by existing investor Upfront Ventures and new investor H.I.G. Growth Partners, with participation from Accel and Morgan Stanley Alternative Investment Partners.
The company intends tp use the funds to accelerate the development of its products and broaden its ecosystem of partners in digital advertising, marketing technology, CRM, and affiliate marketing.
Led by Gregg Johnson, CEO, Invoca is an AI-powered call tracking and conversational analytics platform for marketers to use real-time call and conversational analytics to maximize the return of their paid media campaigns in Google and Facebook, and improve the buying experience by enriching customer profiles in Salesforce and Adobe Experience Cloud.
Earlier this month, the company released Signal Discovery, which uses a proprietary unsupervised machine learning model to analyze buying conversations between consumers and experts in the contact center. This allows marketers to understand, in real time, the factors affecting consumers’ intent to buy, like competitive promotional campaigns.
Marketers can apply these insights to drive more revenue-generating calls, boost conversion rates, and improve the buying experience.