Observe.AI Acquires Conversational Analytics Startup ScopeAI
Enterprise transcription and contact center AI platform Observe.AI has acquired conversational analytics startup ScopeAI for an undisclosed sum. ScopeAI’s team and tech will become part of Observe, augmenting its conversational intelligence services.
Observe.AI provides a platform for transcribing and analyzing call center phone conversations. ScopeAI’s tech combs through digital conversations from emails, text messages and on social media. The AI then analyzes the data for helpful trends and other information that can improve how a company interacts with customers. Observe will integrate those features into its own services to build what it calls ‘omnichannel conversation intelligence.’ ScopeAI CEO Natalie Abeysena will now lead the Omnichannel product line for Observe.AI, including the upcoming web chat and email support channels.
“We are thrilled to be joining forces with the Observe.AI team. Like ScopeAI, Observe has a passion for empowering CX leaders with data to make actionable, informed decisions,” Abeysena said. “Our shared values, rooted in customer experience and analytics, will open up new ways for Contact Centers to leverage AI to drive revenue and efficiency.”
Observe.AI has plenty of cash on hand for the transaction after raising $54 million a year ago and $26 million nine months before that. The company has been scaling rapidly after that cash infusion, reporting 300% growth in revenue, although not the actual dollar amount. Observe’s raise presaged an endless deluge of major fundings for conversational AI and services for call centers. Stories like the $78.15 million raised by Yellow, the $14 million for higher-ed chatbot platform AdmitHub, Rasa’s $26 million round, and the $100 million raised by Gupshup are just a few of the bigger numbers. And the trend has fueled other acquisitions as well, like Zoom’s purchase of digital contact center Five9, a year after Five9 bought virtual agent platform Inference Solutions. Observe.AI’s ability to monitor every incoming call and analyze them with minimal computing resources has been in especially high demand as the COVID-19 pandemic caused a simultaneous drop in the number of people at call centers while raising the amount of incoming calling to some businesses by an enormous amount.
“The pandemic has shown that even the most well thought out digital transformation initiatives require human connection points to drive stellar customer experiences. I’m thrilled to extend our industry-leading AI into the world of Omnichannel, maximizing agent performance along with customer satisfaction,” Observe.AI CEO Swapnil Jain said. “Our expansion into Omnichannel aligns with our broader mission to empower every worker within the contact center to achieve unprecedented levels of productivity. By giving 100% visibility into customer conversations, we can turn every interaction into a business-improving insight.”