Cloud Telephony Platform Exotel Acquires AI Platform Cogno Exotel
Exotel, a cloud telephony company, announced the acquisition of Cogno AI, an omnichannel cloud communication platform driven by artificial intelligence.
Conversational AI and co-browsing features will be added to its product line, bringing it one step closer to becoming an AI-powered customer interaction platform.
The transaction's financing sum, which is split between cash and stock, was not disclosed.
Cogno AI is a conversational AI platform that includes an omnichannel chatbot, live chat, and co-browsing features. It offers enterprise customer engagement solutions like as sentiment analysis, smooth onboarding of new customers, zero contact resolution for current customers, and a variety of digital sales and support use cases.
Cogno AI is the industry leader in banking, financial services, and insurance (BFSI), with over 60 significant business customers including the Kotak group, ICICI group, State Bank group, HDFC group, Aditya Birla group, ICICI group and many more.
Exotel secured $35 million in Series C fundraising in September 2021, and the firm has raised $55 million in debt and equity capital over the previous 12 months. Exotel and Ameyo, a provider of contact centre software, recently announced their merger, and the company is now expanding 70% year over year and has an ARR of $50 million, with a goal of $200 million in the next three years.
Exotel has been bolstering its capabilities by partnering with Ameyo and now Cogno AI to provide a suite of client interaction solutions delivered smoothly via the cloud. This first-of-its-kind product in emerging regions enables businesses to communicate with consumers across channels, processes, and devices to improve omnichannel experiences.
Shivku, Co-founder and CEO of Exotel said, “distributed workforce, adoption of digital channels, and conversational AI are clear trends in the customer engagement space. With the acquisition of Cogno AI, Exotel brings conversational AI capabilities to its contact center offering. Exotel and Ameyo together serve the largest brands in emerging geographies. This acquisition puts Exotel ahead of the market by offering an AI-powered Customer Engagement Platform on the cloud to its customers”
Aman Goel, CEO and co-founder of Cogno AI said, "we started four years ago with chatbots as our primary offering, and then went on to add more customer engagement-related offerings in our suite. Working directly with enterprise clients helped us get the right feedback and build a product-market fit for the BFSI space. We see tremendous synergies with Exotel and Ameyo, and through the combination, we can bring a lot of added value to our customers.”
Cogno AI's 98-person team has joined the Exotel family to work on a shared aim of putting all customer interaction tools together in one location. Cogno AI's legal advice was Vertices Partners, and the deal was bankered by IndigoEdge, a Bangalore-based investment bank.
Conversational AI and co-browsing features will be added to its product line, bringing it one step closer to becoming an AI-powered customer interaction platform.
The transaction's financing sum, which is split between cash and stock, was not disclosed.
Cogno AI is a conversational AI platform that includes an omnichannel chatbot, live chat, and co-browsing features. It offers enterprise customer engagement solutions like as sentiment analysis, smooth onboarding of new customers, zero contact resolution for current customers, and a variety of digital sales and support use cases.
Cogno AI is the industry leader in banking, financial services, and insurance (BFSI), with over 60 significant business customers including the Kotak group, ICICI group, State Bank group, HDFC group, Aditya Birla group, ICICI group and many more.
Exotel secured $35 million in Series C fundraising in September 2021, and the firm has raised $55 million in debt and equity capital over the previous 12 months. Exotel and Ameyo, a provider of contact centre software, recently announced their merger, and the company is now expanding 70% year over year and has an ARR of $50 million, with a goal of $200 million in the next three years.
Exotel has been bolstering its capabilities by partnering with Ameyo and now Cogno AI to provide a suite of client interaction solutions delivered smoothly via the cloud. This first-of-its-kind product in emerging regions enables businesses to communicate with consumers across channels, processes, and devices to improve omnichannel experiences.
Shivku, Co-founder and CEO of Exotel said, “distributed workforce, adoption of digital channels, and conversational AI are clear trends in the customer engagement space. With the acquisition of Cogno AI, Exotel brings conversational AI capabilities to its contact center offering. Exotel and Ameyo together serve the largest brands in emerging geographies. This acquisition puts Exotel ahead of the market by offering an AI-powered Customer Engagement Platform on the cloud to its customers”
Aman Goel, CEO and co-founder of Cogno AI said, "we started four years ago with chatbots as our primary offering, and then went on to add more customer engagement-related offerings in our suite. Working directly with enterprise clients helped us get the right feedback and build a product-market fit for the BFSI space. We see tremendous synergies with Exotel and Ameyo, and through the combination, we can bring a lot of added value to our customers.”
Cogno AI's 98-person team has joined the Exotel family to work on a shared aim of putting all customer interaction tools together in one location. Cogno AI's legal advice was Vertices Partners, and the deal was bankered by IndigoEdge, a Bangalore-based investment bank.
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