Invoca Acquires DialogTech as Companies Chase New Data Sources
With Google phasing out cookies and Apple limiting access to the identifier for advertisers, among other data privacy reforms, companies need more information about their customers. Conversation intelligence solution Invoca is taking a step toward providing that access with its $100 million acquisition of rival DialogTech.
Invoca and DialogTech both track and analyze calls with customers to help companies improve marketing and sales. Despite all the new digital ways to transact, calls to businesses remain a major part of the buying process. Invoca taps into that channel, developing insights from what might otherwise seem an inscrutable part of the customer journey.
Specifically, DialogTech will help Invoca better target mid-market customers, Invoca CEO Gregg Johnson told TechCrunch. The post-acquisition firm will boast 2,000 customers and be on track to bring in $100 million in revenue this year.
But the most compelling part of the acquisition might be its timing: Brands and retailers are clamoring for first-party data at a time when third-party data sources are drying up. The Invoca value proposition is, in part, that the company can leverage existing contact with customers to create a newly accessible data lake amid an industry-wide drought.