CALIFORNIA: Zoom Video Communications (NASDAQ: ZM), on May 12th, signed a deal to acquire the conversational AI and automation platform, Solvvy to elevate customer service experiences to a global enterprise base. The transaction is expected to close in Q2 FY2023. Terms of the transaction were not disclosed.
“The nature of customer experience is transforming fundamentally, as enterprises increasingly need to deliver exceptional, personalized, and effortless customer experiences. Solvvy understands this shift and is the ideal platform to enhance our Zoom Contact Center offering,” said Velchamy Sankarlingam, President of Product and Engineering at Zoom.
The recently launched Zoom Contact Center is the first omnichannel contact center platform optimized for video with a robust suite of channels, such as video, voice, SMS, and webchat, in a single, user-friendly experience.
Adding Solvvy’s proprietary technology will broaden Zoom Contact Center’s offering with scalable self-service and conversational AI.
With Solvvy, Zoom Contact Center customers will benefit from an automated, integrated, and easy-to-deploy contact center that helps answer end-customers’ questions and solve issues faster, improves the overall customer experience, and drives operational savings.
“Solvvy’s differentiated AI and machine learning technology, deeply talented team, and an easy-to-deploy solution will help accelerate our roadmap to creating a concierge-level experience for customers worldwide. Together, we are excited to help businesses of all sizes improve their customer retention, increase operating efficiency, and set new standards for customer service and satisfaction,” Sankarlingam added.
Mahesh Ram, Chief Executive Officer and Co-Founder of Solvvy, said Zoom is poised to redefine the contact center category with its unique combination of unified communication and customer experience. “We could not be more excited to join forces and further scale our unique conversational AI offering.”
“Zoom’s Contact Center brings the same level of scalability, simplicity, and respect for the end-user, making Zoom the premier communications platform for businesses worldwide. When combined with our modern tech stack, talented team, and AI expertise, we believe we can fundamentally transform the customer experience. The benefits of Zoom’s deep technical expertise, industry-leading platform, and global reach will further scale the impact we have on our customers and serve new ones.”
Following the close of the transaction, Zoom will incorporate and expand Solvvy’s capabilities across its Zoom Contact Center platform. Solvvy Founding CEO Mahesh Ram and Co-Founder & CTO Justin Betteridge will be instrumental in driving the combined Advanced Conversational AI and Automation product vision and innovation strategy.