Austin-based startup Tethr, which uses artificial intelligence to analyze customer calls, has tied up a $15 million investment.
The lead investor in the Series A deal was Grotech Ventures, with participation from MissionOG and a number of strategic investors, the company said.
Tethr previously raised about $6 million in seed money primarily from individual investors.
Founded in 2013, Tethr has developed an AI-based platform that transcribes the audio recordings of every contact center call.
The platform runs analytics to provide insight on ways to improve business performance. The calls also provide data on product trends and ways companies can better market their products during sales calls.
“When anyone calls in to a contact center there’s this sentence, ‘This call might be recorded.’ But businesses don’t really leverage that,” said Mike Mings, Tethr’s CEO. “There’s a lot of valuable information when you look at the voice conversation as a data set itself -- it gives a really powerful view of the voice of the customer.”
Tethr’s customers include energy provider Southern Power; TruGreen Lawn Care and global distributor Cargill International.
Lawson DeVries, general partner at Grotech Ventures, said “What excites us about Tethr is their use of cutting-edge machine learning approaches that make it easy for companies to quickly and accurately turn large amounts of unstructured customer conversation data into information that fuels smarter business decisions.”
The company will use the funding to accelerate sales, marketing and product development, Mings said.
Tethr has 50 employees and plans to double its headcount in 2018. To accommodate the growth, the company is looking for a new headquarters and plans to move from the River Place area to the Domain area, Mings said.
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