LoneTree has made an investment in OneReach.ai, a Denver-based software company. No financial terms were disclosed.
New York, NY and Denver, Colo. — (January 26, 2022) – LoneTree, a New York-based growth capital firm backed by top-tier research universities, today announced it has made a significant growth investment in OneReach.ai, a Gartner Magic Quadrant leader focused on democratizing conversational AI and machine learning through their flexible low-code/no-code development platform. This is LoneTree’s first investment in this market.
OneReach.ai is a Denver-based company with offices in Berkeley, London, and eastern Europe. The Company began as a research project by award-winning UX (user experience) pioneers that launched its first product in 2013, introducing a highly flexible, no-code platform for sequencing complex conversational AI and automation solutions. It offers deep functionalities for creating conversational applications across all communication channels, including a complete set of end-to-end voice capabilities that allow customers to build their own independent solutions or augment their existing legacy telecom systems with low risk. OneReach.ai customers include Fortune 2000 companies spanning multiple verticals, including financial services, retail, telecom, technology and CPG.
“Following an exhaustive review of the existing market landscape, it is clear to us that OneReach.ai offers the most advanced and configurable conversational AI platform on the market, and we expect the Company to benefit from continued enterprise adoption of these next generation solutions,” said Matt Koven, Managing Partner, LoneTree Capital. “OneReach.ai’s dominance in this market reflects the quality of the platform, the organization as a whole and its leadership. We look forward to working closely with the OneReach.ai team as they continue building a world-class organization in support of their current and future customers.”
The Company aims to capture significant market share while continuing to focus on existing customers’ success. The funds will be utilized to further expand global market penetration in a rapidly expanding category, along with application support efforts and future product development for current and future customers. The investment will also help accelerate the Company’s research and development and build on its existing innovations that are changing the status quo and making chatbots and IVRs “less dumb.”
“We are delighted to be working with LoneTree as the experience and insight the team brings will contribute to the next phase of our growth,” said Robb Wilson, principal designer, chief technologist and founder, OneReach.ai. “Their investment in OneReach.ai is an endorsement of our AI/ML platform and the team we have built. We believe the Conversational AI market’s rapid growth is a long-term theme that is underpinned by the value that this type of technology makes possible. As we look at expanding our international footprint and continue to innovate our product portfolio, we believe LoneTree to be the perfect partner to support our mission for inclusive innovation.”
Leading LoneTree’s growth investment in OneReach.ai were Matt Koven, Jesse Zhou, and Stephen Miller. Morris, Manning, & Martin LLP provided legal counsel to OneReach.ai. Goodwin Procter LLP represented LoneTree.
Launched in 2013, OneReach.ai is a market-leading software company created by award-winning UX pioneers and supported by top-tier research universities to democratize digital communications and machine learning. The Company’s award-winning Communication Studio G2 platform is a Gartner Magic Quadrant leader in conversational AI that provides a powerful, flexible and trusted microservices-based conversational AI platform, targeted at enterprise implementations. The Global Fortune 2000 and other organizations across the world rely on OneReach.ai, spanning multiple verticals, including financial services, retail, telecom, technology and CPG, among others. The Company is headquartered in Denver, with offices in Berkeley, London and eastern Europe. For more information, please visit www.onereach.ai.