Israeli AI sales talk analysis company Chorus.ai has closed a $33 million series B financing round led by Georgian Partners with participation by returning investors Redpoint Ventures and Emergence Capital. Simon Chong, Managing Partner at Georgian Partners, joins the company's board of directors as part of the round.
Chorus.ai has created a conversation intelligence platform for high-growth sales teams using artificial intelligence. The funding will be used to accelerate customer acquisition and continue its market-leading product innovation.
The company was founded in 2015 by CEO Roy Raanani, president and R&D manager Micha Breakstone and CTO Russell Levy. With offices in Tel Aviv, San Francisco and Boston, the company has raised over $53 million since it was founded, including the current round. The company has 60 employees, half of them in Israel.
Raanani said, "Chorus.ai exists to help sales teams have higher quality conversations that result in higher quota attainment, higher rep productivity, and shorter new hire ramp time. Billions of dollars in revenue are flowing through video conferencing platforms and phone calls. Chorus.ai creates visibility into those calls at scale to understand how top performers sell and deliver personalized coaching to the rest of the team, transforming how high-growth organizations enable and scale their sales teams."
Chorus.ai enables sales teams to shine a light on what has typically been a black box - their deals. This is accomplished by automatically recording, transcribing, and analyzing these high-value conversations. It then surfaces deep insights to sales and enablement so they can coach reps on conversations, ensure new reps are trained up more quickly and gain insights into predictors of sales success.
"Maintaining high-quality sales conversations as you scale a sales organization is hard for many companies, but key to delivering predictable revenue growth. Chorus.ai's Conversation Intelligence platform solves that challenge with a market-leading solution that is easy-to-use and delivers best-in-class results," said Simon Chong, Managing Partner at Georgian Partners. "Chorus.ai works with some of the best sales teams in the world and they love the product. We are very excited to partner with Chorus.ai on their next phase of growth as they help world class sales teams reach higher quota attainment and efficiency."
Raanani added, "We are excited to continue our exponential growth in 2019 and have big plans to help more sales teams win. I believe that there is no better way to impact the success of your company than by ensuring that crucial conversations like sales and customer success meetings are impactful. In sales, you only get one shot."
Published by Globes, Israel business news - en.globes.co.il - on December 13, 2018
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