About Us Newsroom Conversica Announces the Completion of a $25 Million Financing With Morgan Stanley Expansion Capital to Further Its Growth
April 05, 2022
Conversica Announces the Completion of a $25 Million Financing With Morgan Stanley Expansion Capital to Further Its Growth
April 05, 2022
Foster City, CA., April 5, 2022 (GLOBE NEWSWIRE)
Conversica Inc., a leading provider of Conversational AI solutions for enterprise revenue teams, announces the successful completion of a $25 million financing with investment funds managed by Morgan Stanley Expansion Capital. Conversica will use the capital to support strategic business initiatives as it prepares for exponential growth.
“Today, AI is more than a technology. It’s an essential strategy for intelligent automation that we believe will transform customer lifecycles and drive unbridled revenue growth,” said Jim Kaskade, CEO of Conversica. “Our partnership with Morgan Stanley Expansion Capital and this growth financing positions us to go public in the future. We're now very focused on larger enterprises, who view AI as a critical part of their ability to deliver exceptional digital experiences to their end-customers, at scale. It’s going to spark an inflection point for our company and we couldn’t be more proud to have the financial backing of one of the largest growth-focused banks on the planet.”
Conversica provides Conversational AI solutions, uniquely focused on revenue growth versus cost savings. Conversica's Conversational AI helps enterprise marketing, sales and customer success teams attract, acquire and grow customers at scale across the entire customer revenue lifecycle. Conversica is expanding its company portfolio and customer base with a focus on mid-market organizations and large enterprises as they are the primary audiences seeking massive revenue growth from AI and automation. Conversational AI will deliver better conversational experiences, build meaningful customer relationships and bolster revenue at scale.
“In our increasingly digital world, exceptional customer experiences will be the competitive battleground where organizations vie for market share. AI solutions are key for companies seeking advanced automation as a means of differentiation. We believe that only digital automation leveraging AI will deliver greater personalization, timely response and consistent engagement across all digital touch points. We foresee significant increases in demand for the Conversational AI market. We are thrilled to support Conversica as a leader in this exciting space and are confident in the company’s upcoming developments and long-term outlook,” said Nick Nocito, Executive Director of Morgan Stanley Expansion Capital.
Conversica is a leading provider of Conversational AI solutions, uniquely focused on revenue growth. Conversica helps enterprise marketing, sales, and customer success teams attract, acquire and grow customers at scale across the entire customer revenue lifecycle. Conversica AI Assistants serve as digital team members and autonomously engage prospects, existing customers, or partners in human-like, two-way interactions at scale to drive towards the next best action, whether that’s scheduling a sales meeting, or gauging interest to buy additional products or services.
Processing over a billion interactions, the Conversica Conversational AI platform integrates natural language processing (NLU & NLG), decision & policy management, business process automation and deep learning capabilities to drive customer engagement across multiple digital communication channels and languages. The Conversica platform supports over 50 integrations into the most popular MAP and CRM platforms and offers an open API for custom integration.
About Morgan Stanley Expansion Capital
Morgan Stanley Expansion Capital is the growth-focused private investment platform within Morgan Stanley Investment Management. Morgan Stanley Expansion Capital targets growth equity and credit investments within technology, healthcare, consumer, digital media and other high-growth sectors. For over three decades, Morgan Stanley Expansion Capital has successfully pursued growth investment opportunities and has completed investments in over 200 companies, leveraging the global brand and network of Morgan Stanley. For further information about Morgan Stanley Expansion Capital, please visit www.morganstanley.com/im/expansioncapital.