Conversica

Conversica is a sales intelligence platform that offers AI-powered virtual assistants for prospecting and lead management to support sales, marketing, and customer success teams. Its proprietary technology uses AI and natural language to provide multilingual and multichannel outreach (email, SMS, and website chat), decision and policy management, sales automation, guided selling as well as reporting and analytics. Additionally, the platform supports 50+ integrations with customer relationship management (CRM) and marketing automation platforms (MAP) as well as an open API for custom integration. In January 2018, the company established a regional presence in Latin America by acquiring the conversational AI platform Intelligens.ai. As of April 2022, the platform served more than 1,700 customers, which include MongoDB, Oracle, and Epson.

The firm’s edge is in its ability to increase workforce productivity without increasing headcount; the platform claimed that its AI assistants can manage the sales outreach of 10 sales development representatives (SDRs). Conversica initially focused on the automotive industry. In 2015, it expanded into other verticals, including technology, education, and financial services. The company claimed that a user (auto dealership) witnessed an engagement uptick of  80% (from 25%) and closed rates up by 24% (from 17%) within a year. In March 2022, the company announced, with the support of its automotive partner network, that it expects auto bookings growth of 44% YoY in Q1 2022. 

In October 2022, the company unveiled human-like AI-powered solutions, to empower the firm’s Revenue Digital Assistants (RDAs) to carry out unscripted conversations with leads, prospects, and customers via web chat, SMS, and email. It also planned to deploy the NLP technology across channels like "voice" at a later date. In March 2024, the company announced its new two-way AI conversations solution for marketing automation platforms (MAPs), which integrates real-time, AI-powered conversations directly into core marketing activities.

Key customers and partnerships

In May 2022, the company partnered with 6sense, a B2B customer intelligence platform and account-based marketing (ABM) platform, allowing Conversica AI assistants to gather real-time account insights (based on industry, client characteristics, and buyer stage), powered by 6sense’s proprietary technology, thereby empowering the sales, marketing, and customer success teams to deliver personalised client engagement. In June 2023, the firm expanded its partnership with Salesforce, integrating its generative AI-driven conversational platform with Salesforce Marketing Cloud to enable active engagement and personalized dialogue with leads and customers through email and SMS.

Funding and financials

In April 2022, the company raised USD 25 million in a Series E funding round led by Morgan Stanley Expansion Capital. It intended to use the funds to execute its strategic initiatives to expand its suite of services and client base of mid-to-large businesses. In June 2021, the company reported subscription sales growth of 23% QoQ in Q1 2021, after an increase of 210% YoY in FY2020. Further, the company reported a 37% growth in average recurring revenue (ARR) in new bookings, which indicated traction amongst mid-to-large businesses, including Kofax, the Los Angeles Chargers, Olympia Entertainment, and Therapy Brands.