Genesys, an American company offering cloud based customer experience orchestration, has entered into an agreement to acquire Israel’s Exceed.ai, which uses artificial intelligence AI in its marketing platform. While the purchase price was not disclosed, Calcalist reports that it was at least $30 million, and could be as much as $40 million.
The transaction is expected to close before the end of the calendar year 2021.
Exceed.ai explains that its Virtual Assistant Software uses Conversational AI to help marketing & sales teams scale by automating repetitive tasks and processes and identifying opportunities for sales. The company says that this its clients to convert more leads and increase lead qualification to schedule more meetings using human-like personalized responses and follow-ups over Email, Web Chat and SMS.
Last December, raised $4 million for its AI-powered assistant.
At the time, Exceed.ai’s Co-Founder and CPO Yaron Ismah-Moshe said, “we revolutionize a broken and outdated lead scoring system that’s utilized across the industry. Firms are scoring leads based on a prospect’s activities, with little insight into their intent. You can only truly understand a customer’s needs by engaging in conversations with them. With Exceed.ai you can do it at scale.”
Genesys boasts that it provides more than 70 billion “remarkable customer experiences” for organizations in more than 100 countries. “Through the power of our cloud, digital and AI technologies, organizations can realize Experience as a ServiceSM our vision for empathetic customer experiences at scale.”
Genesys says that it offers organizations the power to “deliver proactive, predictive, and hyper personalized experiences to deepen their customer connection across every marketing, sales, and service moment on any channel, while also improving employee productivity and engagement. By transforming back-office technology to a modern revenue velocity engine Genesys enables true intimacy at scale to foster customer trust and loyalty.”
— Genesys (@Genesys) October 7, 2021
“Many businesses have struggled to develop and maintain relationships with potential customers, held back by limited time and resources,” said Ilan Kasan,”When our AI technology is combined with Genesys, we can take the customer experience to the next level.”
“Genesys is fundamentally transforming the customer and employee experience,” said Tony Bates, CEO and Chairman of Genesys. “Experience as a Service is no longer an industry vision but rather a business advantage. With our cloud platforms and ecosystem, businesses can orchestrate personalized experiences for their customers and employees in a way previously not possible.”