Invoca Inc., a marketing technology platform to monitor phone calls, has raised $30 million in Series D financing led by Morgan Stanley Alternative Investment Partners.
Businesses can use Invoca’s software to monitor calls with customers, tracking data on keywords, tone of voice and other signals that may help the customer service supervisor assess the quality of the service. The company offers software integrations with Adobe,Salesforce, Oracle, HubSpot and Marketo.
“Our plan is to get the company to be IPO-ready,” said Mark Woodward, the chief executive whom investors brought in last year. Upon Mr. Woodward’s appointment last summer, the company announced that it expected to go public in 2017.
Returning investors Accel Partners, Salesforce Ventures, StepStone, Rincon Venture Partners and Upfront Ventures also participated in the round. The company declined to discuss its valuation in the new round.
A company spokesperson said Invoca was last valued at $100 million after its Series C raised in March 2014. Calculations by research firm PitchBook, based on the company’s public filings, indicate the company’s valuation following the Series C investment was $88.87 million.
Kobie Fuller, a principal at Accel who frequently invests in marketing technologies, described Invoca’s call monitoring service as “the gap in the marketing pipeline that hasn’t been addressed before.”
Mr. Woodward said the company expects to see its first profitable year in 2017.
The new round, which closed in March, will fund Invoca’s investments in technology, sales and marketing. The new funding gives the company a total of about $60 million raised, Mr. Woodward said. A few million of that was raised as convertible notes, which have since converted to equity.
