San Francisco-based startup and customer experience management platform Medallia will acquire Voci Technologies, a real-time speech-to-text platform, in a deal set to close for $59 million in cash this May.
Given the acquisition, Medallia plans on enhancing its SaaS platform, the Medallia Experience Cloud, by integrating Voci’s speech-to-text AI technology. The company’s platform works by capturing customer experience signals in personal, digital and IoT interactions. Immediately following said interactions, the company applies AI technology to reveal predictive insights that can improve its clients’ customer service satisfaction.
“The world now lives online and brands are looking for faster ways to garner consumer insights that can drive innovation,” Sarika Khanna, chief product officer at Medallia, said in a statement.
According to the company, Voci’s transcription service can analyze a call to reveal numerous factors about a customer including their sex, emotion and voice biometric identity.
“Voci enables call analysis moments after each interaction has completed, optimizing every aspect of call center operations securely. Especially important as virtual and remote contact center operations take shape,” Leslie Stretch, Medallia’s president and CEO, said in a statement.
Voci will be the eighth company acquired by Medallia, which has raised a total of $325 million in venture capital to date, according to Crunchbase.
Medallia, founded in 2001, went public in 2019 and has over 15 offices around the world including locations in New York, London, Paris, Sydney, Buenos Aires and Tel Aviv. Its clients include Comcast, Delta, Mercedes-Benz, PayPal and Samsung.
