Yext to Acquire Hearsay Systems


Yext (NYSE: YEXT), a NYC-based provider of a digital presence platform for multi-location brands, acquired Hearsay Systems, a San Francisco, CA-based company which specializes in digital client engagement for financial services, for $125M and up to an additional $95M if certain performance targets are achieved.

The acquisition will combine Yext’s digital presence management platform with Hearsay Systems’ compliant engagement solutions across social media, websites, text, and voice.

Hearsay Systems empowers over 260,000 advisors and agents to proactively guide and capture the last mile of digital communications in a compliant manner. Financial firms—including BlackRock, Charles Schwab, and New York Life—use its compliance-driven platform to scale their reach, optimize sales engagements, grow their business and deliver their client service.

Hearsay Systems’ solutions integrate into CRM systems, including an alliance with Salesforce, whose venture capital arm invested in the company in 2020. With CRM integration, brands can synchronize contact information, track client interactions, improve field productivity, orchestrate workflows, and uncover best practices.

Led by CEO Michael Walrath, Yext is a provider of a digital presence platform for multi-location brands, with customers worldwide. With one central platform, brands can deliver experiences and meaningfully connect with customers anywhere in the digital world. Its AI and machine learning technology empowers the knowledge behind every customer engagement, automates workflows at scale, and delivers actionable cross-channel insights that enable data-driven decisions. From SEO and websites to social media and reputation management, it enables brands to turn their digital presence into a differentiator.