SAN FRANCISCO--(BUSINESS WIRE)--Observe.AI, a leading GenAI Conversation Intelligence platform for contact centers, today announced new financial results and business highlights for the first half of its fiscal year 2025, ending July 31, 2024.
“As we celebrate Observe.AI’s seven-year anniversary, I couldn't be prouder of our achievements. We've continued to deliver tangible value to contact centers, driving record-high business outcomes for our customers in operational efficiency savings, revenue generation, and customer experience. We’ve taken generative AI from mere hype to concrete reality by pairing cutting-edge innovation with a relentless commitment to customer success,” said Swapnil Jain, CEO and Co-Founder of Observe.AI.
“These milestones are a testament to our core belief: that conversations are the lifeblood of the contact center, and if you can tap into that goldmine, you will unlock breakthrough levels of business growth and success,” said Jain.
Strategic and Enterprise Segment Customer Growth
H125 marked the two best-performing consecutive financial quarters in Observe.AI’s history. Observe.AI’s acquisition of enterprise and strategic customers – including the largest US food delivery platform and the leading global tech care company – resulted in an increase of 193% in bookings for the strategic and enterprise segments over H124. The number of customers representing over $100K ARR grew 81% year-over-year versus H124, reflecting accelerated deployment of Observe.AI’s Conversation Intelligence Platform by leading enterprise customers.
350+ Successful Deployments & Proven ROI
Observe.AI has achieved over 350 successful customer deployments with an emphasis on time-to-value and agent adoption. With an influx of new enterprise customers, the volume of interactions processed for enterprise and strategic customers increased 121% year-over-year in H125. The volume of customer chats analyzed increased by 3000%, reflecting the increasingly omnichannel nature of contact center operations.
Observe.AI’s focus on rapid implementation of generative AI solutions, powered by the Observe.AI Contact Center LLM, has accelerated time-to-value for its customers to as little as three weeks. Adoption of Observe.AI products – including Auto QA, Manual QA, Agent Performance & Coaching, Real-Time Agent Assist, Screen Recording, Knowledge AI, and Summarization AI – has driven outcomes such as:
- $8 million in incremental revenue for a leading healthcare company
- 50% reduction in after-call work at a leading healthcare technology company
- 19% increase in quality scores and 8% reduction in AHT at a large HR people management software company
- 23% reduction in AHT and 60% reduction in hold time violation at a leading financial services company
- $2 million in annual operational savings at a leading personal finance technology company
AI Product Innovation & Investment
Observe.AI increased R&D headcount by 40% year-over-year. 65% of Observe.AI headcount is invested in R&D, machine learning, and generative AI. With publication of 25 research papers in peer-reviewed journals – including 5 new papers this year – and a growing patent portfolio, Observe.AI’s R&D division continues to lead the industry in developing yet-unseen capabilities and innovations for contact center AI technology.
Earlier in the year, Observe.AI released its latest GenAI enhancements for Real-Time AI and Post-Interaction AI, enabling contact center leaders to effortlessly extract richer, more nuanced insights based on complex reasoning and broader subjective questions. Observe.AI also launched the next generation of its Summarization AI product and announced a vast ecosystem of pre-built connectors and integrations for every major contact center business system — including CCaaS, CRM, BI, Knowledge Base, HRIS, Marketing Automation, Ticketing, Communication, and Project Management systems — enabling the fully connected contact center.
Executive Leadership Appointments
Drawing on a strong bench of leaders to build on the company’s growth and momentum, Observe.AI made the following key appointments this past year:
- Jason Griggs, Chief Revenue Officer
- Ritu Kapoor, Chief Marketing Officer
- Tina Figueroa, Chief People Officer
- Luke Richardson, Chris Polling, VPs of Sales
- Jim Tennant, VP of Channels
- Colette Wladyka, VP of Demand Generation
- Milind Pansare, VP of Product Marketing
Observe.AI customers, partners, investors, and employees are welcome to join the company’s 7th Anniversary Celebration by following #ObserveAI7Years on LinkedIn and X (Twitter) from August 21, 2024 through August 29, 2024. The company will be sharing and amplifying stories to commemorate the occasion, beginning with CEO Swapnil Jain’s reflection on the origin of the company, its impact, and vision.
About Observe.AI
Observe.AI is the GenAI conversation intelligence platform trusted by enterprises to empower their contact centers with real-time agent guidance, coaching, post-interaction summaries, Auto QA, and advanced business analytics. Built on the industry's most accurate contact center LLM, the platform analyzes every customer conversation, identifying critical insights to increase revenue, improve customer retention, and optimize operational efficiencies and compliance – while ensuring security and massive scale. Trusted by leading companies such as Asurion, Concentrix, Cox Automotive, Doordash, Included Health, and Public Storage, Observe.AI accelerates outcomes from the frontline to the executive level. For more information, please visit www.observe.ai.