TalkIQ publicly launches Conversation Intelligence platform

TalkIQ announces $7M in funding to understand conversations in the enterprise
Team TalkIQ

Cross-posted from Medium: https://medium.com/@talkiq/introducing-talkiq-45fbd5fcc555#.wom0rbuc6

There is a lot of talk about artificial intelligence (AI) coming to the enterprise to make us all smarter and better at what we do for a living. Everyone can agree that access to business and customer data is what fuels these AI enginesYet the most important data stream in enterprise is completely missing from today’s largest platforms — voice.

‍Source: Salesforce.com

Voice calls still represent 68% of customer contact today, with email a distant second at 13%. It’s how companies sell to their customers. It’s how companies service their customer needs. But this data — the insights from the most critical customer conversations — is not being captured, analyzed, or leveraged to grow and improve a business.

Enter TalkIQ.

Our team of speech recognition experts, data scientists, and engineers has spent the last couple years quietly building a speech recognition, machine learning, and AI engine for enterprise sales calls. That’s a mouthful of buzzwords but necessary to convey the breadth of what we’re building from the ground up — let us explain.

First, we focused on building a proprietary speech recognition engine for enterprise conversations, which turned out to be significantly different in nature (and much more complex) than social conversation or a voice command to a smartphone. This approach has enabled us to surpass in accuracy (i.e. lower word error rate) IBM Watson by 2X and Google by 3X for our clients.

Next, we built an analytics and insights platform based on this foundation, to help companies maximize their sales. TalkIQ enables sales teams to, for the first time, take a scientific approach to understanding and optimizing key moments across their sales process, including recognizing purchase intent, handling objections, responding to competitors, pricing, building rapport, and closing.

We’ve been working closely with a select group of early customers, and we are excited to roll our Conversation Intelligence platform out more broadly. We integrate directly with Salesforce and with existing sales acceleration tools like InsideSales. If you are a leader of a large and growing sales team who believes in the power of using data to drive performance, we can’t wait to talk with you about how we can help.

We’re also excited to share that we’ve raised $7M in funding from a great group of investors who have backed innovators in both sales technology and communications, such as InsideSales, RelateIQ, and Twilio. Our investors include Felicis Ventures, Polaris Partners, SV Angel, and Cherubic Ventures.

Every analog data stream is eventually digitized and moves to the cloud. We’ve seen this in every part of our lives — at home (books, photos, videos) and at work (contacts, presentations, contracts). We at TalkIQ believe that spoken word is next, and when enterprise conversations can be fully understood, managed, and optimized at scale — companies, employees, and customers will win. We’re just getting started on this journey and look forward to sharing more!