April 13, 2012
Voci Technologies Raises $3.12 Million
According to a recent press release, Voci Technologies Inc., a company providing speech recognition appliances, recently raised $3.12 million in Series A financing round led by Pittsburgh Equity Partners. BlueTree Allied Angels, Carnegie Mellon University, and the Innovation Works also participated in the financing round.
The officials from Voci said in a press release that the funds will be used for the expansion of the company’s operation. Voci will invest the money in improving its infrastructure and hardware-accelerated speech technologies which will help the company produce better speech recognition appliances.
“Voci has produced impressive results in a short period,” commented Steve Robinson, Managing Partner at Pittsburgh Equity Partners, in a statement. “We see tremendous growth potential for speech recognition in the enterprise analytics business and for Voci in particular due to their differentiated solution and high-caliber team of entrepreneurs.”
Voci recently unveiled V-Blaze speech appliance, a large vocabulary continuous speech recognizer designed for small to large enterprises that process speech-to-text for analysis. The solution ensures that speech converted to full text enables richer and more meaningful analysis through improved capture of customer intent. Moreover, the company develops servers that convert large volumes of speech into text, operating at speeds orders of magnitude faster than any alternative. Conversations from one hundred phone lines or more can be simultaneously transcribed on a single Voci appliance.
“We are pleased that our newest investor has recognized the commercial validation of Voci’s proprietary hardware-accelerated speech technologies and our innovative team focused on the fastest-growing segment of the business intelligence market,” said Anthony Gadient, Voci’s president and CEO. “We look forward to benefitting from Pittsburgh Equity Partners’ experience as we enter this next chapter in Voci’s growth.”
Meanwhile, Castel (News - Alert) Communications, a provider of call center solutions for financial institutions, recently announced it has selected Voci Technologies as the speech recognition appliance solutions provider to power Castel Detect v2, the quality monitoring tool for call centers. The company released Castel Detect v2 in late Q1 2012. The call quality monitoring solution helps call centers monitor and detect words and phrases on live calls. The solution enhances customer experience, while also ensuring regulatory compliance.
Edited by Rich Steeves