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#contactcenterworld, @exotel
New Delhi, India, Nov 11, 2021 -- Cloud telephony firm Exotel said it has acquired Cogno AI, an artificial intelligence-powered omnichannel cloud communication platform. The acquisition will add conversational AI and co-browsing capabilities to its product suite and bring it one step closer towards being an AI-powered customer engagement platform.
The funding amount for the transaction, which is a part cash and part stock deal, was not disclosed.
Cogno AI is a conversational AI platform with an omnichannel chatbot, live chat, and co-browse capabilities. It provides customer engagement solutions for enterprises including monitoring customer sentiments, onboarding of new customers, zero contact resolution for existing customers, and various digital sales and support use cases.
"Distributed workforce, adoption of digital channels, and conversational AI are clear trends in the customer engagement space. With the acquisition of Cogno AI, Exotel brings conversational AI capabilities to its contact center offering," said Shivku, Co-founder and CEO of Exotel. "Exotel and Ameyo together serve the largest brands in emerging geographies. This acquisition puts Exotel ahead of the market by offering an AI-powered Customer Engagement Platform on the cloud to its customers"
Aman Goel, co-founder, and CEO of Cogno AI said, "We started four years ago with chatbots as our primary offering, and then went on to add more customer engagement-related offerings in our suite," "Working directly with enterprise clients helped us get the right feedback and build a product-market fit for the BFSI space. We see tremendous synergies with Exotel and Ameyo, and through the combination, we can bring a lot of added value to our customers."
Cogno AI’s team of 98 joins the Exotel family to build the combined vision of bringing together all the tools for customer engagement in one place. Vertices Partners acted as the legal counsel to Cogno AI and Bangalore-based investment bank, IndigoEdge, was the banker for the transaction.
Posted by Veronica Silva Cusi, news correspondent
Source: https://www.business-standard.com
About Exotel:
Exotel is a cloud telephony service provider for small and medium enterprises in India. It provides virtual phone numbers and telephony applications to businesses.
Published: Friday, November 12, 2021
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