SAN FRANCISCO, December 13, 2018 /PRNewswire/ --
Chorus.ai, creator of the number one conversation intelligence platform for high-growth sales teams, today announced it has closed a $33 million series B round. The round was led by Georgian Partners with participation by returning investors Redpoint Ventures and Emergence Capital. Simon Chong, Managing Partner at Georgian Partners, joins the company's board of directors as part of the round. The funding will be used to accelerate customer acquisition and continue its market-leading product innovation.
"Chorus.ai exists to help Sales teams have higher quality conversations that result in higher quota attainment, higher rep productivity, and shorter new hire ramp time," said Roy Raanani, CEO and Co-Founder of Chorus.ai. "Billions of dollars in revenue are flowing through video conferencing platforms and phone calls. Chorus.ai creates visibility into those calls at scale to understand how top performers sell and deliver personalized coaching to the rest of the team, transforming how high-growth organizations enable and scale their sales teams."
Chorus.ai enables sales teams to shine a light on what has typically been a black box - their deals. This is accomplished by automatically recording, transcribing, and analyzing these high-value conversations. It then surfaces deep insights to Sales and Enablement Leaders so they can:
- Coach their reps on critical conversations like objection handling, competitive positioning, and pricing negotiations
- Ensure new reps ramp to productivity faster through curated libraries of winning talk tracks and "film review"
- Gain insight into the predictors of deal success
"Chorus.ai has helped us become a smarter sales organization as we've scaled. We have visibility into our sales conversations and what is working across all of our offices," said Greg Holmes, Head of Sales for Zoom Video Communications. "We've seen a drastic reduction in new hire ramp times and higher sales productivity with even more reps hitting quota. Chorus.ai is a game changer."
Chorus has helped market-leading clients like Adobe, Zoom, Qualtrics, Outreach, and Procore accelerate their growth. Clients report as high as 50% greater quota attainment, higher win rates, higher ASPs, and 30% faster ramp time for new reps.
"Maintaining high-quality sales conversations as you scale a sales organization is hard for many companies, but key to delivering predictable revenue growth. Chorus.ai's Conversation Intelligence platform solves that challenge with a market-leading solution that is easy-to-use and delivers best-in-class results," said Simon Chong, Managing Partner at Georgian Partners. "Chorus.ai works with some of the best sales teams in the world and they love the product. We are very excited to partner with Chorus.ai on their next phase of growth as they help world class sales teams reach higher quota attainment and efficiency."
"We are excited to continue our exponential growth in 2019 and have big plans to help more sales teams win," said Raanani. "I believe that there is no better way to impact the success of your company than by ensuring that crucial conversations like sales and customer success meetings are impactful. In sales, you only get one shot."
Chorus.ai is the #1 conversation intelligence platform for high-growth sales teams, transforming conversations into data and insights. Chorus.ai's technology transcribes and analyzes business conversations in real time, which allows proprietary algorithms to detect High-Value Moments during sales calls. 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. Every function in a company, whether it be sales, marketing, product or business development, becomes more valuable when powered by the data generated by Chorus.ai's technology. Chorus.ai is headquartered in San Francisco, with offices in Tel Aviv and Boston.
About Georgian Partners
Georgian Partners is a thesis-driven growth equity firm investing in SaaS-based business software companies exploiting applied artificial intelligence, trust and conversational AI. Founded by successful entrepreneurs and technology executives, Georgian Partners leverages its global software expertise to be able to directly impact the success of companies. For more information, visit www.georgianpartners.com.