Interactions Raises $56M

What does Interactions do?

Interactions, is a leader in speech and natural language technology solutions. It is the fastest growing customer care company. The company develops and markets award winning natural language understanding tech used by Fortune 500 companies globally. The company is built on its Adaptive-Understanding technology which easily integrates machine and human intelligence. The company provides virtual assistant solutions which are highly conversational. Their solutions are used by companies like Best Western,Hyatt,  Humana, Asurion, TXU Energy and AllConnect deploy Interactions’ solutions. Its service, sales and support solutions are delivered across any device with touch, type or talk capabilities, and has handled over a billion transactions to date.

How much Interactions was funded?

The company raised $56M in undisclosed series on August 9, 2016 from Sigma Partners, Comcast Ventures, SoftBank Capital, Revolution Growth and NewSpring Capital.

Previous funding

$10.45M in Series D on April 13, 2010

$12M in undisclosed round on July 26, 2011 from Updata Partners, North Hill Ventures, Cross Atlantic Capital Partners and Sigma Partners

$40M in undisclosed round on May 22, 2013 from SoftBank Capital, Cross Atlantic Capital Partners, Sigma Partners and North Hill Ventures

What is next for Interactions?

The company plans to use the latest funding raised for the rapid expansion of its company for meeting the increased demand and further development in AI which is changing the multi-billion dollar customer care industry. It is making strategic investments for advancing its core AI technology, for further efforts in expansion worldwide and strengthening its marketing and sales efforts.

More about Interactions

The company was founded in 2004 by Michael Cloran. It has its headquarters in Franklin, MA with offices in Bedminster, Indianapolis and Austin.  The company is rooted in natural speech recognition and is built for adapting to human conversations. Their solutions have increased sales and support efficiencies and delivered cost savings for some of the biggest companies in the world.