100% Bookings Growth, Product Innovation and Industry Recognition Cement Invoca as leader of $4.8 billion conversational intelligence market
Invoca, the leading Active Conversation Intelligence platform for revenue teams, announced record growth for the first half of FY21 as it continues its path to $100M in annual recurring revenue (ARR) by end of its fiscal year. Top highlights include:
- Expansion bookings up 100% year over year
- Net customer retention of 110%
- World-class NPS score of 86 (February 2021), up from 75 (August 2020)
New and expanded customers include AliMed; Austin Rare Coins Inc; AutoNation; Christian Brothers Automotive; LGI Homes; Northwell Health; Rothman Orthopaedic Institute; and WPS Health Insurance – Health Plan. Invoca’s customer base now exceeds 2,300 leading B2C brands in the automotive, real estate, financial services, telecommunications, insurance, healthcare, retail, and home services industries.
“We get a lot of personal attention and top-tier service from Invoca,” said Matteo Togni, Product Manager of Localization and Digital Product at AutoNation, America’s largest and most admired automotive retailer. “We’ve also been extremely impressed with their robust technology team as well as how quickly they solve problems and release new features.”
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With the market for conversational AI expected to reach $13.9 billion by 2024, Invoca is doubling down on innovation to expand its market leadership in the conversation intelligence space.
In May, Invoca introduced its newest product line, Invoca for Sales, which helps contact centers improve the conversion of inbound sales by automating quality assurance, improving contact center agent coaching, and personalizing the total buying experience.
Also in May, Invoca acquired call tracking attribution and analytics platform, DialogTech. With this acquisition, Invoca doubled the size of its research and development (R&D) team and increased its R&D investment to $20 million to support its ongoing innovation efforts.
This June, Invoca released an industry-leading integration with Google Ads that utilizes the Google Click ID (GCLID) to more accurately attribute call conversions when a call is placed from call extensions, call ads, and location extensions. This enables Invoca customers to track high-intent customers from these click-to-call ad formats as well as calls from PPC-driven website visitors to get a precise picture of the caller’s intent in real-time. Invoca then activates that keyword-level conversation intelligence data in tools like Google Ads to fuel smarter automated decisions and drive better results.
“As demand for Conversation Intelligence heats up, Invoca has distinguished itself through product innovation and superior customer service, which resulted in record growth and stellar customer satisfaction,” said Gregg Johnson, Invoca CEO. “Our acquisition of DialogTech in May is a major milestone that will help us accelerate our vision. Customer retention of the DialogTech customer base has actually improved since the acquisition, showing strong customer reception to the deal.”
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Invoca was widely recognized for its technology and workplace culture, including:
- Fortune Best Small & Medium Workplaces™ 2021 – Great Place to Work US: Ranked #14 on Medium companies listing.
- Inc. Best Workplace: Listed as an Inc. Best Workplace for the fourth year running in the “Established Excellence” and “Medium-Large Company” categories.
- Fortune’s Best Workplaces for Millennials™ 2021 with Great Place to Work US: Ranked #19 on the Small/Medium companies listing.
- Fortune Best Small and Medium Workplaces in Technology™ 2021- Best Places to Work: Ranked sixth in the best small and medium workplaces in the technology category.
- #CODiE Awards: Named a finalist for Invoca Signal Discovery in the Best Sales & Marketing Intelligence Solution category.
- IBM Geography Excellence for North America, 2021 and IBM Business Unit Excellence for IBM Data & AI, 2021 – Recognition for IBM Partners based on a stellar performance, demonstrated excellence, exceptional customer experiences and business growth.
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