Validates First Speech CRM Application Company
(MOUNTAIN VIEW, CA. (28 April 2002) - TuVox, a leading creator of Conversational Voice Response (CVR) solutions for customer relationship management, has secured its first institutional financing.
The round was led by Granite Ventures in conjunction with Adobe Ventures. Granite Ventures LLC (formerly H&Q Venture Associates LLC) is a leading early-stage venture capital firm which is known for investments in companies such as Siebel Systems (NASDAQ:SEBL), Vignette (NASDAQ:VIGN), InfoGear (acquired by NASDAQ:CSCO) and Nexabit (acquired by NYSE:LU).
The $5.2 million investment demonstrates investor confidence in the TuVox technology and business model.
TuVox achieved significant milestones including the deployment of the world's first automated conversational technical support systems using speech recognition technology for its customers, Handspring and Activision.
"The capital raised will allow us to expand our product development, service and sales efforts", said TuVox President and CEO Steven S. Pollock. "We're thrilled to be working with the Granite and Adobe teams, and know they will help drive this business to the next level."
"TuVox' approach to creating strong value for customers is a compelling investment opportunity," said Tom Furlong, Managing Director of Granite and a TuVox board member. "TuVox' focus on improving complex customer service interactions cost effectively truly stands out."
Founded in 2000, TuVox is a leader in Conversational Voice Response (CVR) technology, the successor to antiquated 'press the pound key' IVR. Whereas IVR is limited to automating simple calls and menus, CVR handles more complex, content rich calls.
TuVox' first product is TuVox 1 CVR for Technical Support. TuVox 1 CVR for Technical Support allows organizations to cost-effectively automate explanatory technical support phone calls, providing callers with 24x7 help and offloading repetitive calls from live agents. TuVox 1 CVR also allows automation and live agents to be used together for a compelling and immediate customer service experience. TuVox 1 CVR can be utilized as a hosted service, or as an on-premise solution.
TuVox is pushing forward the frontier of speech recognition in the call center by creating highly interactive natural-language systems that can cost-effectively automate a broad variety of calls. As part of a customer relationship management (CRM) system, TuVox enables customers to automate level one technical support calls, and integrate automation with live agents. TuVox helps reduce customer wait time to zero.
For a demonstration or more information visit http://www.tuvox.com
Media Inquiries: Bill Scannell, Director of Public Relations
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