Conversation Intelligence Leader Invoca Closes Record Year with Over 70% Revenue Growth

SANTA BARBARA, Calif., Feb. 10, 2022 /PRNewswire/ -- Invoca, the leader in AI-powered conversation intelligence for revenue teams, announced over 70% revenue growth during the past 12 months. The company also completed its first acquisition (DialogTech) and was named a Leader in The Forrester Wave™: Conversation Intelligence: Sales And Marketing, Q4 2021 report. Invoca customers used the platform to analyze over 1.5 billion call minutes with consumers. 

Invoca now serves:

• Telecommunications: 5 of the top 7 U.S. and the top 3 Canadian telecommunications providers
• Healthcare: 6 of the top 10 U.S. health systems and 4 of the top 6 U.S. dental service organizations
• Financial Services: 4 of the top 10 U.S. banks and 4 of the top 6 U.S. mortgage lenders
• Insurance: 5 of the top 10 U.S. property & casualty insurance providers and 3 of the top 5 U.S. health insurance companies
• Senior Care: 4 of the top 10 U.S. home care franchises and 3 of the top 5 U.S. senior living providers

Invoca's customer base now includes over 2,300 of the leading B2C brands in the automotive, real estate, financial services, telecommunications, insurance, healthcare, retail, and home services industries. New and expanded customers include Camping World, Georgia ProtonCare Center Inc., UW Health, Kinetic by Windstream, and others.

In May, Invoca acquired DialogTech to become the #1 conversation intelligence platform. In only eight months since the acquisition, DialogTech's dollar-weighted customer retention has improved by over 5 percentage points. Upgraded customers have also expanded their usage and investments in Invoca's conversation intelligence technology by an average of 15%.

"Invoca had a breakout year of record growth and cemented our position as the market leader in Conversation Intelligence," says Gregg Johnson, CEO of Invoca. "The integration of DialogTech is exceeding our expectations with improved customer retention and expansion among DialogTech customers. We are thrilled with the strong adoption of Invoca for Sales and are proud to have been named a Leader in the Forrester Wave for Conversation Intelligence."

Accelerating Product Innovation and Adoption

Invoca doubled the size of its R&D team in 2021, investing nearly $20 million over the year to accelerate product innovation. New releases include:

• Invoca for Sales: Since its launch in May 2021, Invoca for Sales has accounted for 15% of total Invoca bookings. Invoca for Sales helps contact center teams improve the conversion of inbound sales by automating quality assurance, improving contact center agent coaching, and personalizing the buying experience.
• Lost Sales Recovery: Launched in November 2021, Lost Sales Recovery is already helping businesses, especially multi-location and franchise businesses, identify and immediately act on missed opportunities from unanswered sales calls. In only two months since its launch, more than 250 customers, including Christian Brothers Automotive, Mutual of Omaha, and University Hospitals, have implemented the Lost Sales Recovery solution.
• Invoca Academy: Introduced a comprehensive training program designed to close the educational gap in applied conversation intelligence.

Windstream, a leading provider of advanced network communications and technology solutions, turned to Invoca for Sales to capitalize on inbound leads: "We're a better marketing organization because we have a stronger partnership with sales. Our teams have realized that we make each other better — and that's the biggest win. Now when we have a problem, we can put all the smartest people together in the room to tackle it," said Aaron Pierce, Vice President of Marketing at Kinetic by Windstream.

In November, Invoca was named a Leader in The Forrester Wave™: Conversation Intelligence: Sales And Marketing, Q4 2021 report. The company received the top score possible in 13 of 24 criteria, including product and technology innovation roadmap, ease of use, market approach and performance, and integrations. Forrester recognized Invoca as a vendor with the top possible score in the market presence category in this conversation intelligence evaluation. The Forrester report also cited that "Invoca has some of the strongest conversation intelligence capabilities for marketers. It increasingly offers features to support sales teams — such as automated QA scoring — and customers rave about the support they receive." 

Expanding Ecosystem

In addition to being named a Leader in the 2021 Forrester Wave for Conversation Intelligence for Sales and Marketing, Invoca also received the highest score possible in the criteria of partner ecosystem, ease of use, integrations, product and technology innovation roadmap. New ecosystem highlights include:

• Invoca Exchange: Surpassed 50 apps and integration partners, including Google Analytics, Salesforce Sales Cloud, Microsoft Advertising, and Search Ads 360.
• Channel/Reseller partner program: Now enables third-party partners to increase the value of their offerings using Invoca's conversation intelligence platform.

Industry Recognition in Technology and Workplace Culture

Invoca bolstered its executive leadership team with Paula Schmidlin appointed Senior Vice President, People & Culture and Ben Sullivan promoted to Executive Vice President, Sales. This news follows public recognition for both its technology and workplace culture:

• G2 Crowd Grid® Report for Inbound Call Tracking: Named G2 2021 quadrant Leader, having earned 7 category badges, including Best Relationship Enterprise, Leader Enterprise, Leader Products, and Momentum Leader.
• #CODiE Awards: Named a finalist for Invoca Signal Discovery in the Best Sales & Marketing Intelligence Solution category.
• IBM Geography Excellence for North America, 2021 and IBM Business Unit Excellence for IBM Data & AI, 2021: Recognition for IBM Partners based on a stellar performance, demonstrated excellence, exceptional customer experiences and business growth.
• Fortune's Best Workplaces in Technology™ 2021: Ranked #6 in the Best Small and Medium Workplaces in the technology category.
• Inc. Best Workplaces: Listed as Best Workplace in the "Established Excellence" and Medium-Large company categories (for the fourth year running).
• Great Place to Work's Best Workplaces for Parents™ 2021: Named a Great Place to Work US and ranked #67 of the top 100 companies.
• Fortune Best Small & Medium Workplaces™ 2021: Named a Great Place to Work US and ranked #14 on the Medium Companies listing.
• Fortune's Best Workplaces for Millennials™ 2021: Ranked #19 on the Best Small and Medium Companies listing.

To learn more about Invoca:

• Take a self-guided Product Tour through the Invoca platform: https://www.invoca.com/product/tour
• Visit the Invoca Exchange partners and integrations portal: https://www.invoca.com/integrations 
• Visit the Invoca Careers page to view open positions: www.invoca.com/company/careers

About Invoca
Invoca is the leader in AI-powered conversation intelligence for revenue teams that enables marketing, sales, customer experience, and eCommerce teams to understand and immediately act on the information consumers share via conversations. Through deep integrations with leading technology platforms, revenue teams can turn conversation data into automated action to enhance every digital touchpoint and human interaction, leading to better experiences, more conversions, and higher revenue. Invoca is trusted by top brands like Dish Network, Mayo Clinic, Mutual of Omaha, and 1-800-GOT-JUNK?. Invoca has raised $116M from leading venture capitalists including Accel, Upfront Ventures, H.I.G. Growth Partners, Morgan Stanley, and Salesforce Ventures. For more information, visit www.invoca.com.

SOURCE Invoca

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