Enterprise Conversational AI Platform LivePerson Acquires 2 Startups to Boost AI and Speech Recognition
Enterprise AI provider LivePerson has acquired two startups to enhance its tech portfolio. LivePerson picked up speech recognition and conversational analytics provider VoiceBase and customer service tech startup Tenfold for an undisclosed amount. The new tech will augment LivePerson’s Conversational Cloud platform for real-time brand and customer interactions and give clients more features and data.
VoiceBase & Tenfold
LivePerson has steadily deepened its bench of technological features over the last 26 years. The company started providing custom chatbots capable of handling financial transactions in 2018 after buying and incorporating technology from BotCentral and Conversable. The newest acquisitions open new vistas for LivePerson’s platform. VoiceBase adds AI-powered recording and transcription services for meetings, presentations, and customer conversations, with speech recognition to distinguish speakers. The AI then analyzes the data and offers suggestions for improvements based on several dozen parameters. Tenfold brings LivePerson the ability to connect and integrate contact centers and voice networks with modern networks without requiring a total system shutdown. In other words, LivePerson will be available in more formats than at present, including as part of a CRM or within specific computers or connected networks. The AI can be tuned to speak with any voice preferred by the clients. VoiceBase and Tenfold had raised $31.5 million and $34.6 million from investors ahead of the acquisition, respectively, so LivePerson likely had to see a lot of potential for them within its network.
“Brands want to accelerate their use of Voice and Conversational AI with deep connective tissue into their systems,” LivePerson CEO Rob LoCascio said. “It’s my great honor to welcome VoiceBase and Tenfold’s experts to the LivePerson family as we build the unified AI system behind 100% of conversations with the world’s most innovative brands.”
LivePerson’s purchases give a sense of what the company plans to offer GM Financial, HBC, and its 18,000 other customers. The guiding phrase of promoting conversational relationships should be a lot more feasible with the additional tech. Setting up natural-feeling conversations with brands is a familiar theme in the industry. For bigger companies, that means a lot of new possible business from contact centers and customer service providers. For startups, it means vast pots of money thrown at them by investors. The recent $70 million raised by Kore.ai stands alongside some of the other big investments over the last year, starting with Observe.ai and its $54 million. There’s also 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. over several months to consider. Companies want to talk to people, and these AI are fulfilling that need.
“Eighty-six percent of buyers are willing to pay more for better customer experiences, meaning huge opportunities open up for brands as we combine VoiceBase’s speech analytics tech with LivePerson’s Conversational Cloud and AI,” VoiceBase CEO Walter Bachtiger said. “We are thrilled to team up with a trailblazing industry leader that shares our vision for improving conversations through actionable, AI-powered insights.”
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