Funding Enables Cogito to Meet Increased Demand for Emotional Connection in the Distributed Workforce
Cogito, a leader in real-time emotional intelligence solutions, announced it raised $25 million in funding. The round was led by Goldman Sachs Growth Equity (GS Growth) and includes participation from new and existing investors, including Salesforce Ventures. Cogito will use this latest investment to expand go-to-market functions, increase enterprise scalability, and accelerate the development of new capabilities that enhance the performance of the modern distributed workforce.
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“Our technology shows first-hand the impact of the pandemic on customer and employee behavior. In fact, between February and May of this year, prompts for representatives to display more energy rose 38 percent, and prompts to display empathy increased by 8 percent,” said Joshua Feast, CEO and Co-Founder of Cogito. “Cogito is uniquely positioned to help improve performance by systematically analyzing and guiding behavior in a personalized yet scalable way. Supporting employees regardless of their location is critical right now, and with this funding, we can ensure more enterprises have access to our enhanced AI Coaching System to help their employees thrive and their businesses grow.”
This latest investment underscores the increasing market demand for technology that understands and augments human behavior. Growing demand from existing customer accounts and partner ecosystems — like Concentrix and the recently announced Amazon Connect integration — serve as strong evidence that companies are turning to innovative technology to drive improved performance. With teams physically separated and looking to deliver personalized coaching in a scalable manner, Cogito’s AI provides objective, real-time guidance for phone professionals, empathetic experiences for customers, and actionable insights for managers and executives.
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“The accelerated distribution of the workforce, along with increasing demands for improved customer service, have combined to create a need for real-time employee coaching,” said Mark Midle, Managing Director at Goldman Sachs Growth Equity. “Cogito is well-positioned to capitalize on this market demand with unique AI-based technology, a strong team and a growing enterprise customer base.”
“Augmenting the natural abilities of sales and service agents through AI is an innovative means by which to bolster productivity and provide a more effortless service experience,” said David Kellenberger, Principal at Salesforce Ventures. “We are impressed with Cogito’s enhanced product capabilities and how they are helping to transform the way our joint customers can build stronger and more productive relationships by leveraging our Salesforce Sales and Service Clouds.”
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