Chorus.ai, an international startup based in San Francisco and Tel Aviv, Israel, has raised $16 million in its latest round of funding. The round was facilitated by Redpoint Venture, in conjunction with Emergence Capital, which was the original seed investor in the company. After this round, the startup has raised a combined $20 million in funding.
Chorus.ai has since its inception been developing an artificial intelligence platform to analyze sales calls. With enough data, the platform can identify successful trends as well as difficulties or sticking points, and give sales managers all the information they need to revise their scripts and ensure greater conversion of sales calls.
In addition to the artificial intelligence, Chorus.ai has its own proprietary speech recognition and Natural Language Processor (NLP), allowing users to record and transcribe calls as they happen without the use of any third party software. In addition, the artificial intelligence is sophisticated enough to provide real time feedback about the agent’s performance in the call.
“Studies show that win rates increase by 33 percent with a proper coaching program in place, yet most managers don’t have the time to sit in on calls, and no one has the capacity to learn from the thousands of meetings that take place each quarter,” said Roy Raanani, CEO and cofounder of Chorus.ai, in a statement. “Chorus.ai lets companies immediately discover moments that impact selling outcomes and that can be used for real-time sales coaching, for collaboration, and for replicating what works.”
More and more businesses are turning to services like Chorus.ai to finely tune their approach to both sales and customer service. In the past, it has been difficult to pinpoint exactly what approaches tend to be successful on calls, and which should be avoided. Using powerful artificial intelligence to analyze this data in real time will provide agents with more information than ever before, and powerful analytics can be leveraged to give detailed feedback about the correct approach to their calls. Chorus.ai is just one example of the powerful way artificial intelligence can be applied to business.