Voci™ Raises $3.12M to Expand Customer Base - CTTEC - Carnegie Mellon University

Tuesday, April 10, 2012

Voci™ Raises $3.12M to Expand Customer Base

Voci™ Technologies Inc. announced today that it has secured $3.12 million in Series A financing. The financing round was led by the Pittsburgh Equity Partners, with participation from existing investors including the BlueTree Allied Angels, Carnegie Mellon University, and the Innovation Works.

“Voci has produced impressive results in a short period,” commented Steve Robinson, Managing Partner at Pittsburgh Equity Partners. “We see tremendous growth potential for speech recognition in the enterprise analytics business and for Voci in particular due to their differentiated solution and high-caliber team of entrepreneurs.”

Voci introduced the world’s first commercial speech recognition appliance, V-Blaze™, last September. The system has roots in early work on accelerated speech recognition done at Carnegie Mellon. Voci’s implementation extends the technology using patent-pending techniques to overcome deficiencies that hindered the academic approach for commercial applications. V-Blaze accurately converts audio files to text orders of magnitude faster than any other speech recognizer, auto-transcribing 100 hours of live audio in one hour, and delivers scanning of up to 1000s of words at over 300x real time with exceptional accuracy.

Voci empowers enterprises to monitor customer interactions while the customer is on the call, initiating real-time alerts for intervention to address customer problems, prevent fraud, and improve cross selling based on live conversations. The Voci recognizers’ speed coupled with an affordable price liberates enterprises to analyze 100% of the recorded call center data to derive Voice of Customer insights to improve operations.

“We are pleased that our newest investor has recognized the commercial validation of Voci’s proprietary hardware-accelerated speech technologies and our innovative team focused on the fastest-growing segment of the business intelligence market,” said Anthony Gadient, Voci’s president and CEO. “We look forward to benefitting from Pittsburgh Equity Partners’ experience as we enter this next chapter in Voci’s growth.”

Article courtesy of MarketWatch