Invoca, a provider of conversation intelligence for revenue teams, has acquired DialogTech, an AI-powered call tracking and analytics solution for marketers, in a combined cash and stock deal.
With this acquisition, Invoca says it is on track to exceed $100 million in revenue. The company now has over 2,000 customers and more than 300 employees.
“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.”
The companies claim that the acquisition comes at the right time. 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.
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. Invoca serves market leaders across a broad array of industries, including 4 of the top 6 US property & casualty insurers, and 3 of the top 10 US mortgage lenders.