Conversica Receives $31 Million in Latest Funding Round, Will Extend AI Technology

Conversica Receives 31 Million in Latest Funding Round, Will Extend AI Technology

Conversica, Inc., a provider of conversational artificial intelligence (AI) for business, has secured $31 million in a Series C funding round, helping fuel expansion of conversational AI.

Investment proceeds will be used to fund global sales and marketing expansion, as well as to continue development of Conversica’s technology, which was recently granted a U.S. patent for an AI-powered system that automatically carries on conversations.

The funding round was led by existing investor Providence Strategic Growth Capital Partners L.L.C. (PSG), an affiliate of Providence Equity Partners, with participation from other existing investors Toba Capital and Kennet Partners and from new investors CIBC Innovation Banking and Savano Capital Partners.

This funding round brings the total invested capital in Conversica to $87 million, including $34 million raised in a Series B round and $22 million in Series A rounds.

Conversica uses conversational AI technologies to power intelligent assistants that automate routine business conversations.

The company’s flagship AI Sales Assistant engages marketing leads in human-like conversations to qualify more of them for sales, freeing humans to spend more time closing business.

Additional assistants work in higher education to follow up with prospective students, in the automotive industry to engage customers throughout their lifecycle, and in customer success organizations to boost satisfaction and retention, allowing employees to focus on the highest-impact tasks.

The company’s AI assistants have touched more than 70 million people, equivalent to a quarter of the adult U.S. population.

Having created and defined the conversational AI category eight years ago, Conversica is distinguished by its innovative natural language understanding and natural language generation technology; its extensive conversational data set and deep data science expertise; its domain expertise in process automation and integration; and its diverse global customer base of more than 1,000 forward-acting organizations, including Box, Chrysler, Snowflake Computing, CenturyLink, the Sacramento Kings and Oracle.

For more information about this news, visit www.conversica.com.

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