US-based voice analytics technology developer Cogito has received $20m in a growth equity round featuring insurance provider New York Life, enterprise software publisher Salesforce and investment bank Goldman Sachs.
The investments were made through respective subsidiaries New York Life Ventures, Salesforce Ventures and Goldman Sachs Growth Equity, and the round included unnamed new and existing investors.
Cogito, a US spinout of Massachusetts Institute of Technology (MIT), offers a software platform for sales professionals that exploits behavioural analytics and artificial intelligence to evaluate their performance during sales calls.
The technology provides in-call guidance as well as a live forecast predcting the chances of a sale closing. It can also interpret a customer’s speech pattern for signs of frustration.
The round took Cogito’s overall funding to $100m, the company said. The cash will go towards broadening its offering, accelerating its go-to-market strategy and winning clients in more sectors.
Cogito closed a $45m series C round in December 2018 featuring Hearst Ventures, a corporate venturing arm of media group Hearst, as well as Salesforce Ventures, Goldman Sachs’ Growth Equity division, Battery Ventures and OpenView Venture Partners.
OpenView had already led the company’s $15m series B round in 2016, investing together with Salesforce Ventures and Romulus Capital.
The original version of this story appeared on our sister site, Global University Venturing.