BOSTON, July 26, 2011 /PRNewswire/ — Interactions Corporation has closed a new funding round totaling $12 million. The round was led by Sigma Partners, with strong participation from North Hill Ventures, Cross Atlantic Capital Partners, and Updata Partners. Leveraging its innovative technology, Interactions has experienced significant growth and traction in the customer care delivery market. The company will utilize the new funds to support its growing customer base, expand its market presence, and invest in new technology and infrastructure.
“Our philosophy is to apply our unique technology to create self-service applications for our clients that truly satisfy their customers and in most cases exceed their expectations. We are thrilled with our progress and the market’s reaction to our unique capabilities,” said Mike Iacobucci, CEO of Interactions. “The funding will help us continue to provide excellent service to our clients while supporting the growth initiatives of the business.”
Interactions is in an unparalleled position to capitalize on the demand for a new breed of voice self-service solutions that deliver a positive customer experience coupled with the economic benefits of self-service automation. Traditional IVR systems that leverage advanced speech recognition technology continue to play a key role in customer care delivery, and are widely used by companies all over the world. However, an overwhelming majority of consumers view these IVR systems as cumbersome and difficult to use.
The frustration associated with most existing traditional IVR systems has opened up a substantial market opportunity for Interactions. Companies continue to utilize speech recognition-enabled IVR systems to provide self-service automation, but these systems are not meeting the business’ or consumer’s expectations for providing quality customer service. Off-shoring, an additional strategy used in contact center savings, has generally not delivered a consistent high level consumer experience. In contrast, Interactions provides break-through self-service applications that deliver an outstanding customer experience while driving operational improvements and cost-efficiency. Providing these benefits has enabled the company to build tremendous momentum and earn the business of some of the world’s most well known brands.
Colleen Mullens, SVP Customer Care at Asurion, global leader in technology protection services, stated, “What made me excited about Interactions is that it genuinely changes the callers’ experience, providing convenient self-service access while enabling our associates to focus on the more complex aspects of customer service. It truly transforms interacting with an IVR from ‘I have to, to I want to.’”
“Our customers view Interactions less like an IVR and more like a virtual customer service agent,” said Bob Davoli, Managing Director at Sigma Partners. “We are excited about Interactions because they are transforming the way customer service is delivered and have the potential to make a profound global impact.”