CallMiner raises $75M in new funding from Goldman Sachs to help businesses improve contact center performance

CallMiner, a Waltham, Mass.-based tech startup and a developer of speech-analytics software powered by artificial intelligence, has closed a $75 million in new venture funding to accelerate go-to-market plans and use case expansion for its analytics platform, Eureka. The round, which was led by GS Growth, an investment unit of Goldman Sachs Group Inc., brings the company’s total funding raised to date to $142 million. Since inception in 2002, CallMiner has helped businesses and organization mined over 2 billion hours of conversations.

Founded in 2002 by Cliff LaCoursiere and Jeff Gallino, CallMiner, which  has about 250 employees, provides conversational analytics solutions for improving agent performance and quality management across all contact channels. CallMiner helps businesses and organizations improve contact center performance and gather key business intelligence by automating their ability to listen to every customer interaction. Founders Gallino, LaCoursiere and Brown incubated CallMiner in 2002. Since then they’ve established a global footprint and have offices throughout the U.S. and U.K.

“Customer intelligence is critical for organisations to compete effectively in today’s environment of rapid change and digital advancement. Success requires understanding what your customers and contact centre agents say, mean and how they feel – and leveraging that insight to fundamentally change the way you operate and perform,” said Paul Bernard, president and CEO of CallMiner. “We are revolutionising the way brands and people interact and conduct business – and it all starts with AI-driven customer insights and intelligence. The investment from Goldman Sachs – a preeminent technology investor – is a significant milestone and we are thrilled to have them as a partner on this journey.”

CallMiner continues to experience exponential growth across its universe of over 400 customers including some of the world’s largest brands, financial institutions, communications companies, and business process outsourcers. The company pioneered the speech analytics industry in 2002, and today analyses over 2 trillion words annually across all forms of customer interactions including calls, chats, emails, surveys and texts. Market demand has grown rapidly both inside the contact centre and beyond, with business and performance applications across sales, marketing, customer experience (CX), security, compliance and automation.

“The convergence of customer interaction analytics and customer experience creates a significant market opportunity,” said Holger Staude of Goldman Sachs Growth. “Backed by a strong management team, CallMiner is well positioned to transform the way organisations operate. We look forward to partnering with their team and supporting their continued growth and success.” Staude will join CallMiner’s board of directors.

CallMiner plans to leverage the funding to continue acceleration of new business applications, channel partner integration and development, international expansion, and platform innovation and capabilities.