[March 01, 2022]

Observe.AI Closes Fiscal Year with Continued Record Growth, Propelled by Strategic Customer Acquisitions & Industry-Leading Product Innovation

Observe.AI, an Intelligent Workforce Platform that transforms contact centers through AI, today announced select financial results and business highlights for a record fiscal year of growth ending January 31, 2022.

Financial Growth & Strategic Customer Acquisitions

Through strategic acquisitions of new customers such as Concentrix, Pearson, and Assurance IQ, Observe.AI propelled nearly 150% in ARR growth and increased its base of customers with $100K or more by 125% year-over-year. With the influx of new customers, Observe.AI has consistently added new agent users to its platform, increasing the volume of customer interactions analyzed with its AI engine by 3X year-over-year.

This record growth was driven by an uptick in established use cases spanning revenue generation, customer experience, operational efficiency, and risk and compliance management. In addition, Observe.AI expanded the application of its platform to accelerate high-volume sales for B2C businesses, driving results like 40% increased revenue. With the rapid adoption of its cloud-based products that infuse contact centers with AI, Observe.AI continues to build its market-leading presence with increasing momentum.

"We're incredibly proud of our team's achievements in the last year, during which we continued to help our customers exceed their business goals while driving unprecedented growth as a company," said Swapnil Jain, Co-Founder and CEO of Observe.AI. "These outcomes are a testament to our ability to meet the overwhelming demand from enterprises looking to elevate their contact centers through AI, and distill game-changing, business-improving intelligence from every customer interaction."

Product Innovation

In addition to establishing a brand-new market category with the launch of the Intelligent Workforce Platform and expansion into the omnichannel conversation intelligence market with the acquisition of Scope.AI, Observe.AI released new product innovations that showcase its industry-leading machine learning and automation. Customer usage of the Observe.AI platform increased dramatically compared with the previous fiscal year, with a 426% increase in AI-powered agent evaluations and a 201% increase in AI-powered agent coaching sessions.

The launch of Observe.AI's Agent Performance and Coaching product line helped contact centers gain a holistic line of sight into team productivity and support agents with targeted and contexual coaching. Customers realized a 4X increase in the number of data-driven coaching sessions that improved customer experiences. Advancements in Observe.AI's analytics solution enabled organizations to uncover patterns and trends impacting business results.

Industry Recognition

For the second consecutive year, Observe.AI was named in the Forbes AI 50 as one of North America's top 50 privately held companies using artificial intelligence. The list is produced by Forbes in partnership with Sequoia Capital and Meritech Capital, and identifies the most promising AI-powered startups from hundreds of candidates. Forrester also recognized Observe.AI in its recent publication Now Tech: Conversation Intelligence industry report.

Game-changing product innovation and superior customer experiences propelled Observe.AI to become a favorite CCaaS provider among enterprise users, as the company was named a leader by G2, the world's leading business solutions review website, and received glowing reviews with 99% of users awarding Observe.AI 4- or 5-star ratings and an exceptional customer satisfaction score (NPS) of 82.

Channel Partner Ecosystem & Leadership Expansion

Observe.AI expanded its presence in the channel ecosystem this year by signing new major partners - including Sandler Partners, Telarus, PlanetOne, Intelisys, InFlowCX, Bridgepointe, and CX Effect - as well as by strengthening existing partnerships with Talkdesk, Ujet, and Genesys.

The company also expanded its channel team with key hires:

• Jon Heaps, VP of Channel: seasoned channel leader with 20+ years of experience in moving contact centers to the cloud and accelerating businesses like Talkdesk, ShoreTel, and NICE InContact
• Heather Riley, Head of Channel Marketing: former Director of Channel Marketing at Talkdesk, previously at Integra and NICE inContact
• Scott Eastman, Director of Channel Sales, US West: former Regional Channel Manager at Talkdesk, previously at Momentum, Integra, and Advoda
• Tony Burns, Director of Channel Sales, US Central: former Channel Account Manager at Mitel, previously at NetFortris and Wireline

Executive Hires & Team Expansion

The company made significant expansion to its leadership and team, including key executive hires in sales, finance, and marketing:

• Sendhil Jayachandran, Chief Marketing Officer: Nearly 20 years in marketing and product leadership, former CMO for xMatters where he repositioned the company to conquer the enterprise DevOps market and built their ecosystem marketing strategy, leading to the company's Series D funding; previous leadership experience includes Salesforce and KACE (acquired by Dell)
• Kyle DiPentima, Senior Vice President of Sales: 20+ years of experience in enterprise sales and contact center experience, former Area Vice President of Enterprise Sales at RingCentral where he helped the company grow to $1.2 billion in revenue; previously at 8x8, LivePerson, and CareerBuilder.com
• Hila Segal, Vice President of Product Marketing: 15+ years of experience at high-growth SaaS companies, with previous leadership positions at Clari, Amdocs, Kapow Software, and Vendavo
• Subhash Tibrewal, VP of Finance: 20+ years of experience in finance, accounting, strategy, and operations, former Head of Finance at BlueJeans by Verizon where he guided the company through build, growth, and scale ($100M+ ARR) and exit

For more information about Observe.AI, please visit www.observe.ai

About Observe.AI

Observe.AI is an Intelligent Workforce Platform that transforms contact centers by embedding AI into 100% of customer conversations, optimizing agent performance, and automating repeatable processes that drive revenue and retention. With Observe.AI, contact centers can surface intelligence across every interaction, giving employees highly accurate, actionable feedback using baked-in coaching and evaluation workflows, and improve key business metrics across every customer touchpoint.

Observe.AI is trusted by hundreds of customers and partners, including 23andMe, 2U, Alcon Laboratories, National Debt Relief, and Pearson. Backed by Menlo Ventures, Next47, NGP Capital, Emergent Ventures, Scale Ventures, Nexus Ventures, and Y-Combinator, Observe.AI is headquartered in San Francisco with an office in Bangalore, India. For more information, visit www.observe.ai.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220301005203/en/

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