Sales team-focused voice analytics software developer Cogito, an MIT spinout, attracted investors including Salesforce, New York Life and Goldman Sachs to bring its overall total to $100m.
Cogito, a US-based voice analytics technology spinout of Massachusetts Institute of Technology (MIT), has received $20m in a growth equity round featuring insurance provider New York Life, enterprise software publisher Salesforce and investment bank Goldman Sachs.
The corporates invested through respective subsidiaries New York Life Ventures, Salesforce Ventures and Goldman Sachs Growth Equity, and were joined by unspecified new and existing investors.
Cogito 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 of the chances of the sale closing. It can also interpret the customer’s speech pattern for signs of frustration.
The cash influx takes Cogito’s overall funding to $100m, the spinout said, and 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 after attracting $8m in an extension supplied by Hearst Ventures, a strategic investment unit of media group Hearst, and Battery Ventures. Goldman Sachs Growth Equity had led the initial $37m close that July with contributions from Salesforce Ventures and venture capital firm OpenView Venture Partners.
Salesforce Ventures had already joined venture capital firm Romulus Capital for Cogito’s $15m series B round led by OpenView in 2016.
