Zoom Video Communications, Inc. announced it has entered into a definitive agreement to acquire Solvvy, a leading conversational AI and automation platform for customer support. Together, Zoom and Solvvy will offer elevated customer service experiences to a global enterprise base and work quickly to capitalize on new opportunities in contact centre and customer support.
The recently launched Zoom Contact Center is the first omnichannel contact centre 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 centre that helps answer end-customers’ questions and solve issues faster, improves the overall customer experience, and drives operational savings.
“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. “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.”
“Zoom is poised to redefine the contact centre 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,” said Mahesh Ram, Chief Executive Officer and Co-Founder of Solvvy. “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.”
Zoom Contact Center was born in the cloud and built for scale to support businesses of all types and sizes.
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.
The transaction is expected to close in Q2 FY2023. Terms of the transaction were not disclosed.
Zoom is for you. Zoom is a space where you can connect to others, share ideas, make plans, and build toward a future limited only by your imagination. Our frictionless communications platform is the only one that started with video as its foundation, and we have set the standard for innovation ever since. That is why we are an intuitive, scalable, and secure choice for individuals, small businesses, and large enterprises alike. Founded in 2011, Zoom is publicly traded (NASDAQ: ZM) and headquartered in San Jose, California.
Solvvy is the leading Conversational AI platform for customer support. Solvvy enables fast, personalized resolutions for customers, improves agent productivity, and uncovers valuable insights that empower support leaders and their teams. Our intelligent chatbot and automations have powered over a billion conversations for top brands such as HelloFresh, Vimeo, Under Armour, Stash, and Zwift, improving customer and agent experiences and driving massive operational savings. Solvvy has been recognized as a Gartner Cool Vendor and is a G2 Momentum Leader and Top Software 2022 award winner.