VC-backed [24]7 buys IntelliResponse

Sequoia Capital-backed [24]7 has acquired IntelliResponse. No financial terms were disclosed. Headquartered in Toronto, IntelliResponse is a provider of digital self-service technology solutions.

PRESS RELEASE

CAMPBELL, Calif. – November 10, 2014 – [24]7 announced the strategic acquisition of IntelliResponse, a provider of digital self-service technology solutions for the enterprise. IntelliResponse is the industry leader in virtual agent and self-service technology and has 160 customers and over 450 global deployments in financial services, telecommunications and utilities. [24]7’s all cash acquisition of IntelliResponse creates a company with the most diverse and comprehensive suite of customer service solutions in the industry. [24]7 is now the only company that combines big data, user experience design and a customer engagement platform across a breadth of channels – virtual agent, web, chat, mobile, IVR, social and voice.

Adding IntelliResponse is a natural fit with [24]7’s data-driven, omnichannel approach to customer engagement. IntelliResponse has world-class virtual agent and knowledge management technology with real-time offer management and customer intelligence tools. The company’s patented virtual agent technology handles over 75 million transactions per year and has over 450 global deployments. IntelliResponse is trusted by top global brands and public institutions, including five of the largest banks in North America.

According to Forrester Research, Inc., “Organizations are turning to live chat and virtual agent tools in order to keep pace with the ever-demanding consumer… An integrated self-service approach will not only help to improve customer satisfaction, but will also drive faster customer response times, improved agent productivity and increased sales.”

Today’s announcement comes at a pivotal time in the rapidly shifting landscape of customer engagement. Enterprises have struggled to close the gap between their existing disparate and siloed customer service solutions and the seamless experience that customers increasingly demand. [24]7 is responding to these needs by adding virtual agents to its existing integrated product offerings.

“The combination of virtual agents and chat agents is already working for Optus and we are pleased to see IntelliResponse and [24]7 solutions under one company. IntelliResponse’s virtual agent has answered over 3.6M questions since launch and the self-service rate and NPS have improved,” says Chris Smith, Head of Online, Optus. “Costs have been reduced as the percentage of customers that request phone and email agent support has gone from 84 percent to 24 percent.

Customers that need further assistance are transitioned from the virtual agent to a chat agent, and the context of their situation is maintained. It is seamless.”

“By adding the capabilities of IntelliResponse to our existing suite of solutions, [24]7 is now the only company that can offer the full spectrum of cutting edge predictive analytics, enterprise chat, virtual agent self-service and IVR,” says PV Kannan, CEO and Co-Founder of [24]7. “Customer experience is the new battleground and combining forces enables us to bring to enterprises the full breadth of self-service and assisted service solutions needed to win.”

The combination of virtual agents with [24]7’s suite of solutions creates a seamless customer service solution which benefits enterprises and customers through:
· Higher self-service success rates
· Greater customer satisfaction
· Increased conversion rates through targeted chat
· Improved insights across channels
· Decreased operational costs through qualification and deflection

“The opportunity to transform how organizations engage with consumers has never been more significant or exciting than it is today, particularly in digital channels,” adds David Lloyd, President of IntelliResponse. “Everyone at IntelliResponse is extremely excited to be joining the [24]7 family and to be able to continue our mission of delivering world class digital self-service solutions.”

About [24]7
[24]7 makes customer service and sales simple. Our platform and applications use big data and predictive analytics to understand customers and drive better service and sales results for large enterprises. We do this over 2.5 billion times a year for the world’s leading companies. [24]7’s platform enables an omnichannel interaction experience. We connect customer interactions across an enterprise’s web, mobile, chat, social, and phone channels. It’s all in real-time and in the cloud. Our solutions drive immediate business results. We increase revenues, reduce service and sales costs, and create more satisfied customers. [24]7 serves the Global 100 market leaders in the Financial Services, Retail, Telecommunications, Technology, and Travel Industries. [24]7 is noted by Forbes as one of America’s Most Promising Companies. [24]7 is a trademark of 24/7 Customer, Inc. [24]7 is based in Campbell, California. For more information, visit: www.247-inc.com.

[24]7 is a trademark of 24/7 Customer, Inc. All other brands, products or service names are or may be trademarks or service marks of their respective owners.

About IntelliResponse
IntelliResponse provides digital self-service technology solutions for the enterprise. We create profitable online conversations for our private and public sector customers around the world. Our patented Virtual Agent solutions transform corporate websites, mobile applications, social media channels and agent desktops into world class self-service platforms.
Using IntelliResponse, consumers can ask questions using natural language and get instant, accurate answers as well as targeted offers that lead them down the purchase path and improve conversion. What’s more, key voice of the customer insights are captured in natural language, allowing companies to build highly detailed customer profiles over time.
For more information about IntelliResponse, visit www.intelliresponse.com.

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