Call Center Conversational AI Startup Talkmap Raises $8M
Conversational AI startup Talkmap has raised $8 million in a Series A funding round led by Stage1 Ventures. Talkmap’s Talkdiscovery platform collects and analyzes call center and chatbot conversations with customers for valuable insights and strategies for building better virtual agents that can fulfill customer requests.
Talkmap describes its platform as a producer of business intelligence and data to speed up customer service AI development. The raw data is collected from every interaction, whether phone calls, text messages, or social media. The company’s machine learning tech processes the information and organizes it in a way that Talkmap’s clients can use to improve their operations. Talkmap’s AI is powerful enough that it can even work in real-time across a large-scale operation with fewer errors than a team of humans would make. Brands can also embed Talkmap’s AI within their own data platforms.
“Enterprises have not been leveraging their most valuable assets: conversations with their customers. With our Talkdiscovery Platform, Talkmap provides unparalleled visibility into this asset, and enables leading brands to drive greater return on their call center and contact center customer experience investments,” Talkmap CEO Tim Moss explained. “Our $8 million Series A funding gives us the resources to accelerate onboarding of our North American customers, while also supporting greater innovation in our core platform.”
Conversational AI is part of every enterprise tech story these days, with its value now essentially proven for any company engaging with customers. The $8 million raised by Talkmap fits into the endless flow of investment and acquisition for startups that can provide a version of those tools. The COVID-19 pandemic and subsequent spike in demand for customer service despite fewer people in call centers have only accelerated the trend. Enterprise conversational AI is at the heart of one of the biggest deals of the last few years, Microsoft’s nearly $20 billion acquisition of Nuance. Even discounting that, there’s no lack of interest in the same kind of technology from all over, as evidenced by the $70 million raised by Kore.ai, the $78.15 million scored by Yellow.ai, Shelf.io’s pickup of $52.5 million, and Dialpad’s $170 million raise in December.