Israeli SaaS artificial intelligence company Gong.io announced that it has received an investment from Cisco Investments in an extension of its Series A financing round. No financial details were disclosed. Gong.io closed its $20 million Series A financing round last July led by Norwest Venture Partners and CheckPoint cofounder Shlomo Kramer and with the participation of Wing Venture Capital and NextWorld Capital.
With offices in Herzliya and San Mateo, the company's platform pioneers new category of AI and Machine Learning to improve sales performance. Serial entrepreneurs CEO Amit Bendov and CTO Eilon Reshef co-founded Gong.io in 2015. Gong.io leverages artificial intelligence (AI) and machine learning to change the way salespeople conduct calls.
Bendov said, "We're thrilled to have Cisco Investments join Gong as an investor. Cisco Investments' involvement will help fuel our continued growth and expedite our penetration into the collaboration and communication markets. We can't wait to utilize immediate opportunities this investment creates and we're confident even more exciting future opportunities lie ahead of us."
Cisco Investments VP corporate development Rob Salvagno said, "Cisco Invests in companies that capture major market transitions. Gong's introduction of contextual and action-driven artificial intelligence specifically tailored for sales conversations represents a major overhaul in the way companies engage with customers, and augments collaboration tools to make them more valuable to businesses."
Published by Globes [online], Israel business news - www.globes-online.com - on April 16, 2018
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