August 03, 2011
IVR: Interactions Closes New $12 Million Funding Round
Interactions, which enables businesses to more effectively interact with their customers, has closed a new funding round totaling $12 million.
Led by Sigma Partners, the round also had strong participation from North Hill Ventures, Cross Atlantic Capital Partners, and Updata Partners.
Interactions intends to use the funds to support its growing customer base, expand its market presence, and invest in new technology and infrastructure.
This funding is well timed as the company reports significant growth and traction in the customer care delivery market.
"Our philosophy is to apply our unique technology to create self-service applications for our clients that truly satisfy their customers and in most cases exceed their expectations. We are thrilled with our progress and the market's reaction to our unique capabilities," said Mike Iacobucci, CEO of Interactions. "The funding will help us continue to provide excellent service to our clients while supporting the growth initiatives of the business."
"Our customers view Interactions less like an IVR and more like a virtual customer service agent," said Bob Davoli, managing director at Sigma Partners. "We are excited about Interactions because they are transforming the way customer service is delivered and have the potential to make a profound global impact."
Interactions notes that it can capitalize on the demand for a new breed of voice self-service solutions that deliver a positive customer experience.
Many consumers are frustrated with most existing traditional IVR systems and this has opened up a substantial market opportunity for Interactions.
Interactions adds that it provides break-through self-service applications that deliver a world class customer experience while driving operational improvements and cost-efficiency.
Read a related article at TMCnet “Customers Reveal Frustration with IVR Systems: Interactions Study.”
Anuradha Shukla is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.
Edited by Juliana Kenny