Voci Technologies Q4 Caps off Strong Growth in 2019
January 22, 2020
January 22, 2020
PITTSBURGH, Jan. 21, 2020 (GLOBE NEWSWIRE) -- Voci Technologies, a leading provider of automated speech recognition technologies for contact centers, today announced that in 2019 it achieved record bookings and growing marketplace awareness, as companies recognize the benefits that speech-to-text technology offers.
2019 ended with another strong quarter of growth for Voci. In Q4 2019, Voci Technologies achieved a 63% increase in bookings over the prior year. For the full year, Voci bookings expanded by 61%.
Voci’s growth was over three times the global speech-to-text market projected compound annual growth rate of 20% (source: Research and Markets Speech-to-text API - Global Market Outlook).
Growth at Voci was based on an ever expanding foot-print in the contact center space. Voci Technologies achieved a record 73% increase in contact center data processed over the same quarter last year.
"Speech transcription is rapidly becoming table stakes for companies looking to stay competitive in the contact center space. As the technology has matured and our partners have been able to demonstrate clear ROI’s to their customers, adoption has expanded rapidly." said Michael Coney, CEO, Voci. "Our ability to increase our partner’s ability to increase ROI for their end users has been facilitated by continuingly making improvements to accuracy and expanding our real-time capabilities."
Growth was not limited to revenue alone - Voci increased head-count by 21% in 2019. Voci’s team grew across the organization with a strong emphasis on expanding research and development teams. “We continue to grow revenue and increase the value of our technology by focusing on the people who make it happen” said Tony Ryan, CFO, Voci. “We attract top talent by listening to our employees and ensuring that Voci is one of the best places to work in the Pittsburgh technology scene. In 2019, we launched an employee-led task-force to continue driving towards those goals”.
Pittsburgh-based Voci Technologies combines artificial intelligence (AI) and deep learning algorithms to deliver the best-in-class enterprise speech transcription platform. Voci’s innovative technology enables developers to build software solutions that extract actionable intelligence from voice data to improve customer experience, operational efficiency, and compliance requirements. Voci’s open platform gives its customers and partners the freedom to choose the deployment methods and integration solutions that best meet their business needs. The company is backed by leading investors, including Grotech Ventures and Harbert Growth Partners. To learn more about Voci, visit http://www.vocitec.com.