Real-Time Conversational Analytics Startup Cogito Attracts $25M
Call center startups are attracting investments amid the increased popularity of phone services due to the pandemic.
The American platform for analyzing the emotions of the interlocutor during a telephone conversation, Cogito raised $25 million in the investment round from Goldman Sachs Growth Equity, Salesforce Ventures, and other investors. Cogito plans to invest in the development and launch of new products. With the latest round, Cogito has raised over $138 million since its founding in 2007.
Due to the pandemic, the number of calls to support services has increased, and platforms for call centers based on artificial intelligence (AI) can help operators work stress-free under a heavy workload.
“As more and more employees are working remotely, a system that can understand the behavior of the interlocutor can help operators stay involved in the dialogue and provide better support,” says John Fist, CEO of Cogito.
The Cogito system measures speech energy, pace, tone, and other metrics. Operators can change the tactics of the conversation depending on this data. For example, if the agent speaks too fast, the system will prompt them to slow down or ask the customer a question. In addition to sales, Cogito is used to help people with various mental disorders – the system analyzes the audio recordings of patients and monitors their well-being.
Cogito’s competitors include Beyond Verbal, a startup that analyzes audio recordings for signs of anxiety or anger in the voices of speakers. Mattersight uses voice analysis to create personalized ads for voice-activated devices like the Amazon Echo and Google Home smart speakers.
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