Clarabridge Announces Record Q3 FY2019 Sales and Customer Momentum

Clarabridge announced a record-breaking quarter of growth. During its third quarter, the company saw more than 140 percent growth in sales of its CX contact centre solution and more than doubled total new and expansion sales of its award- winning CEM Platform.

The Clarabridge CX Contact Center solution allows companies to mine conversations for insights and analyze the information exchanged during verbal interactions. It does this through a combination of advanced speech-to-text processing and AI-powered text analytics and is used to identify insights that can significantly lower costs, improve performance and reduce risk. Clarabridge addresses a number of common use cases across industries such as compliance and digital experience for financial institutions and patient and provider experience for healthcare companies.

In addition to improving contact centre operations, the Clarabridge solution pinpoints information that originates in the contact centre but has major implications for revenue optimization, customer journey mapping and customer satisfaction. This information is relevant for teams across an organization, underlining the platform’s ability to impact the broader area of customer experience from enhancing product quality and streamlining business processes to delivering world-class digital transformations and impacting operations.

“An urgent need in the market for conversation analytics has been fueling our growth for the past year,” said Clarabridge CEO Mark Bishof. “Customers are seeing the value of processing 100 percent of their calls and realizing the treasure trove of insights that has been buried in those calls for years. By unlocking these insights, they are gaining a real competitive advantage.”

Currently, more than 35 of the world’s leading financial institutions, healthcare providers, airlines, consumer goods and telecommunications companies are using the Clarabridge CX contact center solution. Over the course of this year alone, Clarabridge has processed over 1.2 petabytes of voice data. That’s roughly the equivalent of 100 times the amount of printed material in the US Library of Congress. In addition to making advancements to its CX contact center solution, Clarabridge continues to excel in other areas of the digital conversation analytics arena. The Forrester WaveTM: Social Suites, Q4 2019 listed Clarabridge as a Strong Performer and received the highest scores possible in the criteria of social listening, social response and product vision.

According to the report, “Clarabridge Engage coupled with its CX Studio analytics product make for a compelling insights visualization engine, positioning Clarabridge for a world in which social media is merely a single channel among many that technology must holistically accommodate.”

We believe this achievement showcases Clarabridge’s expertise in omnichannel analytics and deep knowledge of social media interactions, a channel of paramount importance in today’s customer experience space.

“There has been a big movement in contact centers to provide customer care through digital channels, and in order to be effective, this needs to happen in one platform. For many of the world’s leading brands, Clarabridge is that platform,” said Bishof.

Clarabridge’s status as a Strong Performer in The Social Suites Wave follows recognition in other Forrester evaluations. In the past, Clarabridge has been named a Leader in The Forrester Wave™: AI-Based Text Analytics Platforms Report Q2 2018, a Strong Performer in The Forrester Wave™: AI-Fueled Speech Analytics Solutions Report Q2 2018, and Leader in The Forrester Wave™: Customer Feedback Management Platforms, Q4 2018.

In 2019, Clarabridge won the Ventana Digital Leadership award for Customer Excellence as well as the SIIA CODiE award for Best Business Intelligence Tools & Platforms, and DC Inno recognized Clarabridge for its standout culture in the Coolest Companies Award 2019. Additionally, Mark Bishof and Clarabridge Chief Strategy Officer Sid Banerjee, received recognition as Tech Titans in The Washingtonian’s list of local industry leaders.

This trajectory of growth represents a significant milestone for the company and sets a strong foundation for continued momentum into 2020 and beyond.

About Clarabridge

Clarabridge helps the world’s leading brands take a data-driven, customer-focused approach to everything they do. Using AI-powered text and speech analytics, the Clarabridge experience management platform enables brands to extract actionable insights from every customer interaction in order to grow sales, ensure compliance and increase operational efficiencies.

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