• Zoom, a leading cloud-based platform that provides video, audio, and web conferencing solutions, has signed a deal to acquire Solvvy, a conversational AI platform for customer support, for an undisclosed amount. 

• Founded in 2013, Solvvy’s conversational AI platform automates customer support tasks with the capability to independently answer customers’ pre-sales questions, guide online shoppers, and help customers with workflows such as returns, refunds, cancellations, and upgrades. The platform also features an analytics dashboard that provides strategic insights to improve customer support operations.

• Solvvy’s proprietary technology is expected to improve Zoom’s in-house contact center product, Zoom Contact Center, by adding conversational AI and scalable self-service capabilities.

<ul><li> Analyst QuickTake: Zoom initially tried to enter the contact center market through the acquisition of cloud-based call center platform Five9 in July 2021 . The deal came under US regulatory scrutiny on national security grounds and later fell through in September 2021 on account of Zoom’s slowing growth. Zoom Contact Center was launched in February 2022 , marking Zoom’s entry into the contact center space, by combining multiple existing functionalities within Zoom.</ul>