Demonstrates Union Square Advisors’ continued track record in providing comprehensive advisory services to disruptive, AI-powered MarTech companies
On May 24, 2021, Union Square Advisors announced it served as the exclusive financial advisor to DialogTech, an AI-powered call tracking and analytics solution for marketers, in its sale to Invoca, the leader in conversation intelligence for revenue teams.
With this acquisition, Invoca extends its leadership in the $4.8 billion conversation intelligence market and is on track to exceed $100 million in revenue. The company now has over 2,000 customers, more than 300 employees, and serves the top consumer brands in considered purchase industries, including ADT, AutoNation, DISH, Mayo Clinic, TELUS, and The Home Depot.
This acquisition comes at a major inflection point for the conversation intelligence category. Due to recent policy changes from Apple and Google, brands can no longer rely on third-party cookie data to drive their marketing campaign strategies. At the same time, call volume is surging due to changes in buying behavior brought on by the pandemic. So, brands are increasingly relying on robust first-party data from conversations to better understand those consumers and make critical business decisions.
From marketing and sales to eCommerce and customer experience, Invoca enables revenue teams to create better buying experiences, drive more leads, and increase revenue. Invoca’s acquisition of DialogTech will bring a stronger investment in product innovation, deeper expertise in key industries, and a broader ecosystem of technology partners, agencies, and digital consulting firms.
“In this digital era, companies are embracing AI to better understand their consumers and changing market dynamics. In industries where consumers are making complex buying decisions–like financial services, health care, and automotive–brands need to embrace the right combination of digital experience and human expertise,” said Gregg Johnson, CEO of Invoca, who will lead the combined company. “With the acquisition of DialogTech, Invoca strengthens our AI-powered conversation intelligence platform. Together, we will empower marketing, sales, and eCommerce teams to optimize digital + human buying experiences and accelerate revenue growth.”
“This move enables us to be an even better partner to enterprises and agencies looking to optimize their marketing and drive sales,” said DialogTech CEO, Doug Kofoid. “Together as Invoca, our combined company will deliver an unrivaled solution for conversation intelligence, with the most innovative technology, expertise, experience, and resources in our industry.”
The acquisition of DialogTech follows Invoca’s recent release of Invoca for Sales, expanding its solution set to serve revenue teams in contact center sales as well as marketing, customer experience, and eCommerce.
As part of the transaction, DialogTech divested the Swydo operating unit. Swydo will continue to partner as an independent entity with Invoca and DialogTech.
Read the full press release here.
DialogTech provides the leading AI-driven conversation intelligence platform for marketers at businesses that value inbound phone calls. When consumers call, DialogTech turns those conversations into actionable insights businesses use to improve marketing ROI, increase sales conversions, and deliver more personalized customer experiences to grow revenue, both online and over the phone. Recognized as the leader and pioneer in call tracking and analytics since 2007, DialogTech is the trusted conversation intelligence platform for many of the world’s most successful brands and agencies.
Invoca’s Active Conversation Intelligence platform enables marketing, sales, customer experience, and eCommerce teams to understand and immediately act on the information consumers share via conversations. Through deep integrations with leading technology platforms, revenue teams can turn conversation data into automated action to enhance every digital touchpoint and human interaction, leading to better experiences, more conversions, and higher revenue. Invoca is trusted by top brands like ATI Physical Therapy, Comfort Keepers, DISH Network, Mayo Clinic, Mutual of Omaha, Sylvan Learning, SunTrust Bank, and others. Invoca has raised $116M from leading venture capitalists including Accel, Upfront Ventures, H.I.G. Growth Partners, Morgan Stanley, Salesforce Ventures, and others. For more information, visit www.invoca.com.
About Union Square Advisors
Union Square Advisors is a leading technology-focused investment bank that offers strategic mergers & acquisitions advice and execution, agented private capital financing, and debt capital markets advisory services. Founded in 2007, with offices in San Francisco and New York, Union Square Advisors works with leading public and private technology companies, private equity, venture capital, and family offices across the technology landscape with a primary focus on Software, Software-Enabled Services, IT Infrastructure and Internet/Digital Media/Marketing Technology. Since inception, Union Square Advisors has advised on over 135 transactions, valued in excess of $105 billion. For more information, please visit http://www.usadvisors.com.