Tethr, the conversation intelligence company, has raised $15 million in Series A funding led by Grotech Ventures with participation from MissionOG and a number of strategic investors. This latest round represents the first institutional investment in Tethr’s four-year history after raising seed capital primarily from individual investors. The company will use the funds to build out its team, scale business operations, rapidly expand sales and marketing and advance key enabling technologies to support today’s top enterprises.
“The customer phone conversation is a vital means of engagement, filled with valuable insights about a company’s products, brands and competitors. Unfortunately, the enterprise hasn’t had access to solutions that extract the full value from customer calls, leaving companies with a massive blind spot that could cost them millions of dollars annually,” said Mike Mings, Tethr CEO. “Companies have tried unsuccessfully to capture voice-of-customer insights by manually listening to phone call recordings, using outdated tools that provide proxy insights via sentiment or emotion, or distributing surveys that reinforce their bias. With Tethr listening to, analyzing and surfacing actionable insights from every customer phone conversation, companies can finally use the information customers are telling them directly to improve business performance and drive better outcomes.”
Tethr’s platform combines artificial intelligence and human intelligence, leveraging customer loyalty insights from major consulting and research institutions to help companies gain business value from each customer conversation. The platform provides organizations with a full and accurate understanding of what is said and meant by customers and employees during phone exchanges, and makes it easy to apply these insights to other engagement channels and business units through simple integration with popular BI and CRM tools. Now, organizations can quantify the immediate and long-term financial impact of each customer call, identify opportunities for improvement and take steps to achieve operational excellence, increased revenue, stronger products and services, impeccable compliance and devoted customers.
“While customer experience is a priority for every executive, many companies are still falling short of providing an experience their customers truly love, simply because they aren’t really listening to their customers,” said Lawson DeVries, general partner at Grotech Ventures. "What excites us about Tethr is their use of cutting-edge machine learning approaches that make it easy for companies to quickly and accurately turn large amounts of unstructured customer conversation data into information that fuels smarter business decisions.”
Tethr’s intelligent and intuitive platform makes it easy for users from the contact center to the C-Suite to surface and apply relevant insights right out of the box and to train the platform to find new insights via an easy-to-use wizard. With its simple pricing model, rapid setup and resource efficiency, users realize the full value of their customer conversations in days – not months. Tethr complements current investments and super-charges people, processes and technology with the power of AI-driven customer insights.
This financing builds on an exceptional year for Tethr, which saw the company gain significant market momentum and rapidly grow its roster of clients within the Fortune 1000.
“Tethr is one of the fastest growing software companies that we have encountered. The solution can quickly integrate with any existing phone system and adds value to enterprises on ‘Day One’,” remarked George Krautzel, managing partner of MissionOG. “We are excited to work with this extraordinary team as they usher in the next generation of customer experience software.”
About Tethr
Tethr helps organizations unlock value from the voice channel. Tethr’s conversation intelligence platform combines powerful AI and a decade of customer research to analyze phone calls and offer insights that can improve sales, loyalty, efficiency and compliance. Learn more at tethr.com.
About Grotech Ventures
Founded in 1984, Grotech Ventures (http://www.grotech.com) is a leading early investor in high-potential technology companies. With more than $1.5B under management, Grotech seeks innovative, early-stage IT companies and continues to invest and add value throughout the growth of its portfolio companies. The firm has a strong combination of industry relationships and deep domain and operational expertise to accelerate growth. General partners include Frank Adams, Chuck Cullen, Lawson DeVries, Steve Fredrick, Don Rainey and Joe Zell. The firm has offices in Virginia, Maryland and Colorado. To learn more about Grotech Ventures, please visit grotech.com.
About MissionOG
MissionOG provides capital to early and growth stage B2B technology companies. We apply our experience and capabilities to a group of highly skilled and passionate entrepreneurs whose businesses are on the cusp of exponential growth. Headquartered in Philadelphia, MissionOG is managed by entrepreneurial operators who have effectively built early to growth stage businesses and guided them through successful acquisitions. For more information visit missionog.com.
