Competitive Landscape: Lead Response Tools - Conversica
Conversica was founded in 2007. The company bootstrapped for the first three years after being established. Currently, it has raised $87 million in several funding rounds, is valued at $300 million, and has a revenue of $38.1 million. Its main investors include Capital Partners and Savano Capital. These details have been outlined below.
- Headquartered in Foster City, California, Conversica is the "only provider of AI-driven lead engagement for marketing and sales organizations."
- The company was founded in 2007 by Ben Brigham and now has roughly 237 employees.
- Conversica has international locations in London, UK and Santiago, Chile.
- Conversica's AI Sales Assistant assists companies in finding and securing customers efficiently by "automatically contacting, engaging, qualifying and following up with leads via natural, two-way email conversations."
- This AI Sales Assistant is used by over 1,000 companies in different parts of the world and has been acknowledged by Gartner as a "Cool Vendor."
- The company is testing other innovative AI technology. In 2018, it secured a patent for an "AI-powered system" that can automatically carry on conversations.
FUNDING & MAIN INVESTORS
- So Conversica has raised around $87 million in over four funding rounds over the past six years.
- The company was bootstrapped for the first three years after it was established.
- Its latest round was a Series C growth round in October 2018 where it raised $31 million. The company noted that this funding will be used to add more features to its platform and expand to other markets. It was led by Capital Partners.
- In December 2016, Conversica kicked off a Series B funding round, also led by Capital Partners. It raised $34 million in this round.
- It had a Series A funding round a year prior, December 2015. It raised $6 million in this funding round.
- Conversica had its first Series A funding round in March 2013 and raised $16 million.
- Other main investors include Kennet Partners, CIBC, Toba Capital, Green D Ventures and Savano Capital.
- In January 2018, Conversica acquired Intelligens, a provider of conversational AI for "sales and marketing focused on the Latin American market."
REVENUE & VALUATION
- In 2018, Conversica was valued at around $300 million.
- The same year, the company reportedly passed an "annual run rate of $35 million."
- The company had a revenue of $38.1 million in 2018.
- It also saw a 3-year growth of 206% by 2019.
- Conversica is rated 4.5/5 based on 77 reviews on G2 Crowd.
- On Featured Customers, it has a 4.7/5 rating based on 50+ reviews.
- The reviews are mainly positive. Users commend the results delivered by the AI Sales Assistant. However, some find it a little too persistent sometimes.
- As one user described, "Conversica's artificial intelligence is like having another employee on staff that never calls in, is always working, doesn't have to have employee benefits and on top of that she gets amazing results!"
- Some of the entities that use and trust Conversica are Fiat, Author Solutions, Full Sail University, Pearson, and Faulkner.