Conversica Raises $31 Million to expand AI Technology

Thanks to VentureBeat

Conversica, an artificial intelligence (AI) platform that helps sales teams convert in-bound leads through automated conversations, has raised $31 million in a series C round of funding from a mix of existing and new investors, including Providence Strategic Growth Capital Partners, Toba Capital, Kennet Partners, CIBC, and Savano Capital.

Founded out of Foster City, California in 2007, Conversica — which was known as Ava.ai until a name change in 2014 — leverages natural language processing (NLP) and machine learning to engage prospective customers through organic conversations across email and text messaging. The platform integrates with numerous third-party enterprise applications, including HubSpot, Oracle Sales, and Microsoft Dynamics.

Big-name clients include Box, AT&T, Chrysler, Oracle, SAP, and the Sacramento Kings.

The company has been pushing into the education realm, too, recently introducing the AI Admissions Assistant, a conversational assistant designed to help higher education institutions engage automatically with prospective students.

“Conversica continues to define what it means to deliver breakthrough customer success and business growth in the conversational AI category,” said Conversica CEO Alex Terry. “I believe even more strongly today in the power of AI to deliver an improved customer experience and to free humans from the routine work that limits us reaching our full potential.”

Prior to now, Conversica had raised $56 million, including a $34 million series B round two years ago. With another $31 million in the bank, it plans to fund a global sales and marketing drive and double down on its platform investment.