Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

Cisco announces plans to acquire CloudCherry

Cisco has announced plans to acquire Customer Experience Management (CEM) company CloudCherry, the security firm announced on Monday.

The acquisition will allegedly close in the first quarter of Cisco’s fiscal year 2020, but it is still currently subject to closing conditions and approvals. 

As part of the deal, the CloudCherry team will join Cisco’s Contact Center Solutions business, led by Vasili Triant, vice president and general manager, according to a press release by Cisco.

“We’re thrilled to add CloudCherry’s market-leading customer experience management technology to our collaboration portfolio,” said Triant.

“This is the next step in realizing our vision for cognitive collaboration in the contact center, enabling the delivery of the best, most personalized customer experiences, ultimately improving customer loyalty and lifetime value.” 

The collaboration between Cisco and CloudCherry will aid companies to enhance their contact centres and improved business outcomes by delivering reactive care to providing predictive support and moving from isolated customer interactions to cohesive, engaging experiences.

The new Contact Center, released by Cisco earlier this year uses artificial intelligence and machine learning to optimise the workflow, thus empowering agents to provide more personalized customer experiences and allow companies to use data to its fullest extent

The injection of CloudCherry’s technology into the Cisco system will facilitate these operations by providing open API  capabilities.

This will simplify how customer data is ingested in real-time from systems of records, transactional data, and other data sources to help contact centre agents close the feedback loop and improve customer loyalty and satisfaction.

CloudCherry was founded in Chennai in 2014 by Vinod Muthukrishnan. The company secured its first round of Series A funds of $6 million in September 2016, which was led by Cisco Investments and Vertex Ventures, with participation from existing investor IDG Ventures India.

The firm later raised $9 million in the second round of its Series A funding led by Pelion Venture Partners and with other funds coming from Cisco Investments, Vertex Ventures and IDG Ventures India. 

Image via PXhere and Wikipedia.

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