Conversation Intelligence Start-up, Chorus.ai, Raises $16M in Series A Financing Led By Redpoint

The investment brings the company’s total funding since its inception just two years ago to over $20M, underscoring the industry’s confidence in Chorus.ai.

San Francisco & Tel Aviv

February 7, 2017

Globe Newswire

Chorus.ai, a San Francisco- and Tel-Aviv-based startup that uses artificial intelligence (AI) to analyze sales conversation and learn how sales organizations can increase win rates, today announced it has raised $16 million in Series A financing led by Redpoint Ventures with participation from original seed investor Emergence Capital. The investment brings the company’s total funding since its inception just two years ago to over $20M, underscoring the industry’s confidence in Chorus.ai and in the burgeoning market opportunity for AI and natural language processing (NLP) to help organizations have better conversations that close more deals.

“We spent a year researching the market and it’s clear to us that Chorus.ai is the leader. Their unique technology enables them to provide real-time feedback to account executives, accelerating training, tuning performance and empowering those teams to win more business every day,” said Tomasz Tunguz, Partner, Redpoint Ventures.

Studies show that win rates increase by 33 percent with a proper coaching program in place, yet most managers don’t have the time to sit in on calls, and no one has the capacity to learn from the thousands of meetings that take place each quarter. Chorus.ai lets companies immediately discover moments that impact selling outcomes and that can be used for real-time sales coaching, for collaboration, and for replicating what works.

Roy Raanani

CEO and Co-Founder, Chorus.ai

While major players have recently made huge investments in AI for sales, and billions are spent annually on developing enterprise solutions to optimize and manage sales, none are focused on the sales conversations themselves. Chorus.ai addresses that need with the only pure SaaS offering that employs in-house developed speech recognition, NLP and AI to transcribe, analyze and deliver real-time feedback on sales conversations. With an average sales force spending 10,000 hours a quarter in meetings with customers and prospects, conversations are a sales force’s most valuable and — until now — most underutilized asset.

Studies show that win rates increase by 33 percent with a proper coaching program in place, yet most managers don’t have the time to sit in on calls, and no one has the capacity to learn from the thousands of meetings that take place each quarter. Chorus.ai lets companies immediately discover moments that impact selling outcomes and that can be used for real-time sales coaching, for collaboration, and for replicating what works,” said Roy Raanani, CEO and Co-Founder, Chorus.ai.

We spent a year researching the market and it’s clear to us that Chorus.ai is the leader. Their unique technology enables them to provide real-time feedback to account executives, accelerating training, tuning performance and empowering those teams to win more business every day.

Tomasz Tunguz

Partner, Redpoint Ventures

“We’re tripling the size of our team this year. Chorus.ai helps me scale coaching and learning opportunities amongst my team and increase conversions. My reps also love it for team collaboration. They’ve made a Slack channel called ‘Chorus’ where they post their call recordings to share calls they converted,” said Nicolette Mullenix, Global Sales, Dynamic Signal.

About the Chorus.ai Platform

Chorus.ai is a Conversation Intelligence platform for sales teams that uses NLP, ML and AI to transcribe, analyze and deliver real-time feedback on sales conversations, allowing sales teams to identify what works to close more deals.

“Building the next generation of real-time AI that elevates and improves the way sales professionals have conversations is not only a wonderful challenge, but a calling that impacts a sales person’s professional success as well as the customer experience,” said Micha Breakstone, Chorus.ai Co-Founder and Head of R&D.

With Chorus.ai, organizations can better understand their sales calls, finding the most important moments, and learning what teams could do differently to achieve better outcomes. Chorus.ai’s technology scales a sales manager’s ability to help reps qualify opportunities and improve their selling skills. The platform integrates with Salesforce and all of the most common online meeting platforms, and automatically captures meetings in WebEx, GoToMeeting, Zoom, Join.Me, UberConference, BlueJeans and ClearSlide.

Chorus.ai is the No. 1 Conversation Intelligence Platform for high-growth sales teams. Founded in 2015, Chorus.ai’s Conversation Intelligence Platform identifies and helps teams replicate the performance of top-performing reps by analyzing their sales meetings. These insights serve as the foundation of an effective coaching strategy for sales and customer success teams and provide insight into the voice-of-the-customer across the entire organization. Customers like Zoom, Outreach, Qualtrics, Adobe, and GitLab ramp new hires to productivity 30-50% faster and see an increase in quota attainment from 20-to-100%. Chorus.ai is headquartered in San Francisco, with offices in Tel Aviv and Boston.

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