Israeli company Chorus.ai today announced the completion of a $16 million financing round led by the Redpoint Ventures fund. The company uses artificial intelligence (AI) technology to analyze sales conversations. Emergence Capital, which has advised the company from the beginning and invested in it previously, also took part in the round.
CEO Roy Raanani and president and R&D manager Micha Breakstone founded Chorus.ai in 2015. The company has raised over $20 million since it was founded, including the current round. Chorus.ai has 25 employees in Israel and San Francisco.
Commenting on the financing round, Redpoint Ventures partner Tomasz Tunguz said, "We spent a year researching the market and it’s clear to us that Chorus.ai is the leader. Their unique technology enables them to provide real-time feedback to account executives, accelerating training, tuning performance and empowering those teams to win more business every day."
Raanani added, "Studies show that win rates increase by 33% 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. 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."
Breakstone remarked, "Building the next generation of real-time AI that elevates and improves the way sales professionals have conversations is not only a wonderful challenge, but a calling that impacts a sales person’s professional success as well as the customer experience.
Published by Globes [online], Israel Business News - www.globes-online.com - on February 7, 2017
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