Call tracking and conversation analytics platform Invoca has secured $56m in a new funding round.
The capital infusion was led by Upfront Ventures and first-time backer H.I.G. Growth Partners. Other commitments came from previous investors Accel and Morgan Stanley Alternative Investment Partners.
Having closed the round, the company will accelerate the development of its products and broaden its partner ecosystem which spans digital advertising, marketing technology, CRM, and affiliate marketing.
Earlier in the month, the company released its Signal Discovery solution which leverages a machine learning model to analyse buying and conversations between consumers and experts in the contact centre.
Invoca is an AI-powered call tracking and conversational analytics company which helps marketers utilise real-time analytics to maximize their campaigns in Google and Facebook. Its products include support for security, privacy and compliance.
Businesses in banking, healthcare and government use the solution to meet HIPAA and GDPR compliance, as well as support call fraud and robo-dialer protection.
The company hopes to increase its double its headcount over the next three years.
Invoca CEO Gregg Johnson said, “With digital advertising spend expected to near $400 billion next year, marketers are investing heavily in Google and Facebook to drive awareness and customer acquisition.
“Yet over 90% of commerce still happens offline via contact centres and retail stores, especially in industries with more complex, expensive products. Brands are struggling to connect digital advertising investments to the human conversations that drive sales. Invoca addresses this gap and is helping sophisticated marketers like Dish Network drive a 60% increase in conversion rates and 15x lift in conversions.”
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