US-based behavioural analytics technology developer Cogito has secured $15m in a series B round featuring Salesforce Ventures, enterprise software provider Salesforce.com’s corporate venturing unit.
Venture capital firm OpenView led the round, investing alongside fellow VC firm Romulus Capital.
Founded in 2007, Cogito develops software that analyses real-time phone conversations and provides customer service representatives with live, in-call guidance to improve customer satisfaction.
The company says its technology, used in sectors like healthcare and financial services, has been proven to boost customer satisfaction by more than 20% and increase agent engagement by more than 50%.
Proceeds from the round will be used to accelerate the development and delivery of Cogito’s products.
Salesforce Ventures participated in a $5.5m series A round led by Romulus Capital in November 2015, a year after Cogito raised $1m in seed funding. Cogito collected $1m in venture financing in May 2016, according to a regulatory filing.
The company, previously known as Cogito Health, graduated from accelerator Summer@Highland in 2007. Summer@Highland offers qualifying startups $20,000 each.
Scott Maxwell, OpenView’s founder and managing partner, who is joining Cogito’s board of directors, said: “Cogito combines [artificial intelligence] technology with decades of behavioural science research conducted by leading experts and validated through millions of real-world data points.
“This confluence of trailblazing technology, science and an enterprise customer base is what gives Cogito an edge.”