TMCnet News
CallMiner Receives $10 Million in Funding TMCnet Contributing Editor CallMiner, a developer of enterprise-class speech analytics software, has announced the receipt of an additional investment of $10 million by a combination of Sigma Partners, Inflexion Partners and Intersouth Partners.
The company will use the funding to develop new sales channels, expand existing sales channels, focus on aggressive marketing and create and deploy improvements to the company’s core technologies. Since 2002, CallMiner has been providing enterprise customers with the ability to uncover actionable business intelligence from call center recordings. Millions of customer call hours are recorded daily, with only a fraction of those calls mined to gain insight into customer and agent interactions.
CallMiner’s proprietary software allows for the detailed analysis of agent/customer interactions, enabling enterprise users to listen to what their customers want and to improve agent performance and business efficiencies.
Virtual Server Room (VSR) technology from CallMiner provides for the implementation of enterprise-level applications in an extremely cost-effective basis through the utilization of existing but otherwise unused computing resources. Working hand-in-hand with CallMiner’s core speech analytics applications, VSR can also be independently licensed and deployed to power other, unrelated enterprise-level software applications.
Jeff Gallino, CEO of CallMiner, noted that this new round of capital comes at a key time for the company as organizations are universally looking to maximize every piece of prospective business intelligence at their disposal. CallMiner is able to provide cost-effective tools that can unlock critical customer-centric information that would otherwise have remained buried in thousands upon thousands of hours of recorded calls.
Gallino went on to add that CallMiner has cutting-edge technology that is fully operational and proven, a customer base that is increasing and a market that is growing exponentially. With the additional investment, CallMiner now has the liquidity necessary to significantly expand its sales and marketing efforts to maintain a market leading position. Moreover, the company is pleased to be adding Sigma Partners to its board to assist with both strategic and tactical planning.
Robert Davoli, managing director of Sigma Partners, contributed that Sigma is excited to pursue this opportunity with CallMiner as the company has several of the elements that Sigma views as essential to success: great technology, a sales-oriented focus and a fantastic market opportunity.
Davoli added that, with a strong board and management team, Sigma Partners believes CallMiner will be able to effectively execute their business plan, maintain their leading market stance and position the company to become a key player in the overall market for business intelligence.
CallMiner is in a very dynamic industry that is witnessing significant changes in trends while also tremendous growth in certain sectors. Overseas outsourcing, for instance, experienced a boom a few years ago as companies strove to reduce costs.
The effects of limited customer service and other challenges have forced some of these same organizations to either shut down their overseas operations or reorganize to capture the market share lost to competitors with more effective processes.
This further investment not only proves CallMiner’s strength in the industry, but also the immense opportunity that is available in business intelligence. As competition increases in virtually every industry, these organizations must be focused on the customer in order to gain competitive advantage. As this demand continues to increase, so will the demand for solutions from CallMiner.
Susan J. Campbell is a contributing editor for TMC and has also written for eastbiz.com. To see more of her articles, please visit Susan J. Campbell’s columnist page. |