VirtuOz, Inc., the leading provider of intelligent virtual agents (IVAs) for online customer service, today announced that it has raised $7 million in additional funding from existing investors Mohr Davidow, Inventures Group and Galileo Partners to finance growth in the U.S. and E.U.
“Over the past year, VirtuOz has hired an executive team with a proven track record of transforming early stage startups with disruptive technologies into successful software companies that lead new market categories,” said Eric Hahn, the founding partner of the Inventures Group and a VirtuOz board member. “This latest infusion of capital coupled with the company’s proven intelligent virtual agent technology and strong management team, positions VirtuOz to continue to be the technology innovator and thought leader in the virtual agent market.”
The IVA proposition is so compelling for both the online consumer and the business provider that leading analyst firm Gartner Research predicts that virtual agents will be a standard technology for customer interactions in two to four years. VirtuOz currently leads the market with the largest number of live enterprise IVAs for the Global 2000. Already used by leading companies such as eBay, SFR, H&R Block and L’Oreal, the funding will be used to grow sales, marketing and product development of the company’s intelligent virtual agents.
“We are excited about the forecast for aggressive adoption of intelligent virtual agents and are well positioned to take advantage of the explosive growth with our industry-leading technology, best practices, and managed services,” said Steve L. Adams, CEO of VirtuOz. “Our current investors share this excitement and have voted with their wallets to give the new management team the runway to execute our growth initiatives in this market.”
