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Voci Technologies Secures $3.12M to Expand Its Customer Base

April 13, 2012

By Carolyn J Dawson, TMCnet Contributor

Voci Technologies Inc. recently unveiled that it has raised $3.12 million in Series A financing. This new round of funding will enabling Voci to expand its customer base and will provide an increased opportunity for more companies to leverage the ‘voice’ of their customers.

The first round of financing was conducted by Pittsburgh Equity Partners and included participation from three current investors including Carnegie Mellon University, BlueTree Allied Angels, and Innovation Works.

Voci was responsible for launching the V-Blaze, the world’s first ever commercial speech recognition system. The V-Blaze is a highly accurate device capable of scanning up to thousand words at over 300x real time and auto-transcribing hundred hours of live audio in one hour. The system has a magnitude that excels most speech recognition devices in the market, and it converts audio files to text orders with extraordinary precision. V-Blaze’s accelerated speech recognition technology is based on early work that was done at the Carnegie Mellon.

In September 2011, Voci implemented patent-pending techniques to extend the existing technology and provided commercial applications a solution to overcome deficiencies hindering academic approaches.

In a release, Steve Robinson, Managing Partner at Pittsburgh Equity Partners said, “Voci has produced impressive results in a short period. We see tremendous growth potential for speech recognition in the enterprise analytics business and for Voci in particular due to their differentiated solution and high-caliber team of entrepreneurs.”

Enterprises utilizing Voci services will be able to improve cross selling based on live conversations, prevent fraud, initiate real-time intervention alerts to deal with customer problems and most importantly, monitor customer interactions while the customer is on the call. Voci offers solutions at an affordable price, enabling enterprises of all sizes to ‘hear’ customer input. The high speed Voci recognizer system provides organizations a means to completely access recordings of call center data conversations with customers.”

Commenting on this venture, Anthony Gadient, Voci’s president and CEO said, “We are pleased that our newest investor has recognized the commercial validation of Voci’s proprietary hardware-accelerated speech technologies and our innovative team focused on the fastest-growing segment of the business intelligence market. We look forward to benefitting from Pittsburgh Equity Partners’ experience as we enter this next chapter in Voci’s growth.”

Edited by Amanda Ciccatelli

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