Cogito Raises $37M in Growth Equity Funding
Cogito, the leader in augmented intelligence, today announced it raised $37 million in Series C growth equity funding led by Goldman Sachs Growth Equity (GS Growth), with participation from existing investors Salesforce Ventures and OpenView. Cogito will use the latest round of funding to accelerate go-to-market, expand research and development, and grow its team.
Cogito has realized exponential growth since its founding out of the MIT Human Dynamics Lab and is now deployed to thousands of sales and service representatives within insurance and financial services enterprises. Industry leaders such as Humana and MetLife have adopted the technology to help empower employees and increase customer loyalty.
“Organizations today are under immense pressure to meet rising customer expectations and deliver high quality empathetic interactions. Cogito’s technology uniquely senses human behavior, understands the context of a given situation and provides in-the-moment feedback to augment a person’s natural abilities. The company’s contact center application is a proven example of the technology in action and represents a tremendous competitive advantage for brands.” – Mark Midle of Goldman Sachs’ Merchant Banking Division, who has joined Cogito’s Board of Directors.
Cogito’s AI disrupts the traditional approach to contact center coaching and customer experience measurement. The software performs streaming analysis of voice conversations and provides representatives with in-call guidance that helps them be more confident and empathetic. Cogito automatically provides insight into a customer’s perception of an interaction and leverages deep learning to improve over time. The combination of a compassionate professional with human aware technology leads to an optimal experience for customers, employees and companies alike.
“GS Growth shares our vision of bringing human AI to the enterprise. There is high demand to help service professionals engage in better conversations and build an emotional connection with customers. Companies are seeking new and innovative ways to connect operational execution with customer impact, and our AI delivers unprecedented transparency. With this latest round of funding we will help more companies empower employees to achieve peak performance and maximize return on customer relationships.” – Joshua Feast, CEO at Cogito.
