Venture Capital News: Cogito Secures $15M in Series B
BOSTON, MA, Leader in real-time emotional intelligence solutions, today announced a $15M Series B round.
Cogito, a leader in real-time emotional intelligence solutions, today announced a $15M Series B round led by expansion stage VC OpenView, with continued participation from existing investors Romulus Capital and Salesforce Ventures. Cogito also announced that Scott Maxwell, Founder and Managing Partner of OpenView, has been added to the company's Board of Directors.
Traditional workforce optimization solutions are difficult to scale and fail to provide the insights required to meet the needs of today's demanding customers. Cogito's cloud-based application analyzes phone conversations and provides real-time behavioral guidance to help phone professionals express empathy and better connect with customers. Cogito is deployed in a rapidly growing number of Fortune 500 healthcare, insurance, and financial enterprises with a proven track record of improving customer satisfaction by greater than 20% and agent engagement by more than 50%. This investment will be used to continue this customer momentum by accelerating the development and delivery of Cogito's deep learning and other advanced product capabilities.
'Globally, there are nearly 14 million phone professionals engaging in half a billion phone conversations daily. At Cogito, we're committed to helping these phone professionals develop and thrive in their profession. Our real-time emotional intelligence engine enables agents to be happier and more engaged in their jobs, customers to experience superior service and companies to benefit from improved efficiency and increased loyalty,' said Joshua Feast, CEO and co-founder, Cogito. 'We're looking forward to Scott's contributions as he brings a wealth of industry knowledge and a proven track record of working with expansion stage companies. He is a natural fit for our board, and OpenView is a perfect partner to help grow the usage of our technology within our current customers and throughout customer-focused enterprises. OpenView's mission, to improve people's working lives, is in perfect alignment with our own.'
'Cogito combines AI-technology with decades of behavioral science research conducted by leading experts and validated through millions of real-world data points. This confluence of trailblazing technology, science and an enterprise customer base is what gives Cogito an edge,' said Maxwell. 'Now more than ever, companies are competing to attract and retain customers through superior service. Cogito's live in-call guidance and ability to provide an instant window into customer perception is helping drive dramatic improvements in customer satisfaction and employee engagement.'
OpenView, the expansion stage venture capital firm, helps build software companies into market leaders. Through our Expansion Platform, we help companies hire the best talent, acquire and retain the right customers and partner with industry leaders so they can dominate their markets. Our focus on the expansion stage makes us uniquely suited to provide truly tailored operational support to our portfolio companies. Learn more about OpenView at openviewpartners.com.
Cogito enhances the emotional intelligence of phone professionals through behavioral change software. By applying validated behavioral science through artificial intelligence and machine learning, Cogito's in-call guidance helps the world's most successful enterprises improve sales results, deliver amazing customer experiences and enhance quality of care. Backed by OpenView, Romulus Capital and Salesforce Ventures, Cogito is headquartered in Boston, MA.
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