Cloud telephony service providing company Exotel acquires conversational AI platform Cogno AI. With this new acquisition, Exotel wants to use the expertise of Congo AI to develop new intelligence omnichannel conversation tools.
Company officials have not provided any information regarding the valuation of this acquisition deal. Exotel understands the demands of the fast-changing customer conversations domain and aims to bring innovations to revolutionize how companies interact with their customers.
Exotel will add co-browsing functionality to its product suite and develop artificial intelligence-powered customer engagement solutions. Earlier, Exotel had acquired Ameyo, and soon after, the new acquisition shows the company’s strong motive of enhancing its technology to develop cutting-edge AI products.
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Co-founder and CEO of Exotel, Shivku, said, “Distributed workforce, adoption of digital channels, and conversational AI are clear trends in the customer engagement space. With the acquisition of Cogno AI, Exotel brings conversational AI capabilities to its contact center offering.”
He further added that this new acquisition makes them the industry leader in providing artificial intelligence-enabled customer engagement platforms on a cloud to users across the world. According to company officials, Exotel is currently developing a full-fledged all-in-one customer engagement platform that would eliminate the need for users to deal with multiple vendors.
Cogno AI is a Mumbai-based Communication as a Service (CaaS) providing firm founded by Aman Goel and Harshita Srivastava in 2017. The company specializes in developing various communications tools like chatbots, live agent chat, co-browsing, and video calling.
Co-founder and CEO of Cogno AI, Aman Goel, said, “Working directly with enterprise clients helped us get the right feedback and build a product-market fit for the BFSI space. We see tremendous synergies with Exotel and Ameyo, and through the combination, we can bring a lot of added value to our customers.” Vertices partners and IndigoEdge took care of all the formalities in this acquisition deal.