FRANKLIN, MA, Provider of conversational virtual assistant applications for customer care, said today it has secured $40 million in new funding led by SoftBank Capital.
Interactions Corporation, the leading provider of conversational Virtual Assistant applications for customer care, today announced that it has closed a $40 million financing round led by SoftBank Capital. Existing investors Sigma Partners, Sigma Prime Ventures, RED LLC, Cross Atlantic Capital Partners, North Hill Ventures and Updata Partners also participated in the financing.
"Interactions is a tremendous company with a powerful and unique offering for a large market that really needs it," said Steve Murray, Partner at SoftBank Capital. "Their Virtual Assistant solution is being embraced by many of the world's platinum consumer-facing brands who see it as strategic to transforming their customer experience, while saving them millions in the process. The company's strong market momentum and dramatic growth in customer acquisition and revenue domestically is impressive. We are looking forward to working with Interactions to help bring the benefits of this powerful solution to a global audience.
Interactions intends to use the new funds to support an expansion of its operations across all business functions, accelerate its growth through continued technology and service innovation, and expand its portfolio of solutions. The Company is also significantly expanding its existing facilities in Indianapolis and Austin, and is opening new corporate offices in Boston.
"SoftBank Capital's global reach and resources made them a natural partner for us in this expansion round of financing as we move to build on the success we have achieved here in the US," said Mike Iacobucci, CEO of Interactions. "We're at the forefront of a new wave of innovation that is revolutionizing the way companies communicate with their customers. Our solution delivers a natural and conversational experience across all the channels customers want to use, a hard ROI and meaningful improvement in overall customer experience. We have built the business around a culture that is passionately focused on customer success and integrity, and we are now well positioned to use this strong foundation to execute on our long term strategic goals."
Interactions Corporation helps companies transform the way they communicate with their customers. Our patented technology for automated voice and other interactive systems delivers an unprecedented level of understanding that engages customers in a productive, natural conversation. The company serves a growing customer roster of industry-leading brands from its offices in Boston, Indianapolis and Austin. Learn more at www.interactions.net.
About SoftBank Capital
SoftBank Capital makes early and growth stage investments in companies that connect people, devices and the world. SoftBank Capital invests in category leaders in consumer and enterprise mobile, online advertising, ecommerce, social media and cloud computing. We have been making investments since 1995, with recent exits including Buddy Media, Hyperpublic, Huffington Post, OMGPOP, Pivot and ZipList. To learn more, visit www.softbank.com
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