Medallia has announced that it has completed the acquisition of real-time speech to text company Voci Technologies.
The acquisition by Medallia — a customer experience management company — will see Voci’s AI-driven platform merged with its own Medallia Experience Cloud solution to provide a single view of customers for its clients.
As a result of the COVID-19 pandemic, more companies are interfacing with customers by phone than any other channel. Many call centers are reporting a dramatic increase in the volume of calls they have been receiving since the beginning of the pandemic and the lockdown orders that have forced people in most places around the world to work from home.
Voci’s real-time speech technology uses deep learning and AI along with the expertise of speech scientists in order to generate language models that can accurately transcribe calls and turn them into actionable insights based around factors like the caller’s emotions, gender, sentiment, and voice biometric identity, which should allow contact centers to work at significantly higher levels.
“We are delighted to complete the acquisition of Voci, they have a unique technology and a talented team,” said Medallia CEO, Leslie Stretch. “The growth of critical data from call centers is another significant signal we have added to our experience management platform to help companies and government agencies understand customer expectations and sentiment in the moment.”
News of the acquisition was first reported at the end of April, with the terms being a reported $59 million in cash. Voci will maintain its headquarters in Pittsburgh, Pennsylvania.
May 7, 2020 – by Tony Bitzionis