NewSpring Capital, a family of private equity funds, announced today that NewSpring Growth Capital (“NewSpring”), the firm’s dedicated technology and business services growth equity fund, led a preferred financing in CallMiner, Inc. (“CallMiner”) with a $12 million investment as part of a larger round which included existing investors. The proceeds from the transaction are being used to fund growth initiatives including sales and marketing.
Based in Waltham, MA and founded in 2002, CallMiner provides speech and interaction analytic solutions to clients across a variety of industries including financial services, utilities and energy, manufacturing, government, communications, fulfillment and performance, marketing and travel and hospitality. CallMiner specializes in improving contact center performance and gathering key business intelligence by automatically analyzing contacts across all communication channels.
“We believe CallMiner is the industry leader in speech analytics for contact centers with a ‘best in breed’ differentiated technology to provide customers with agent insights, analytics and compliance–all with speed, scalability and ease of use,” said Glenn Rieger, NewSpring General Partner and newly added Member of the CallMiner Board of Directors. “The Company is experiencing market tailwinds with traction building in sales productivity. When combined with the experienced management team, we have the right combination to execute on this investment opportunity.”
“NewSpring Capital is an ideal partner for CallMiner at this stage of our evolution,” said Terry Leahy, CallMiner President and CEO. “They have been very active in our space, have consistently followed the market as the adoption cycle has accelerated, and demonstrated keen insight into the dynamics of big customer data and interaction analytics. We are delighted to gain their support as CallMiner enters a new phase of strategic expansion and growth.”
CallMiner helps businesses and organizations improve contact center performance and gather key business intelligence by automating their ability to listen to every customer interaction. CallMiner’s market leading cloud-based voice of the customer analytics solution automatically analyzes contacts across all communication channels: calls, chat, email, and social. CallMiner offers both real-time monitoring and post-call analytics, delivering actionable insights to contact center staff, business analysts, and executives. The results include improved agent performance, sales, operational efficiency, customer experience, and regulatory compliance. With over 10 years of industry leadership and over 2 billion hours of conversations analyzed, CallMiner serves some of the world’s largest call centers, delivering highly effective, usable and scalable speech analytics solutions.