Cogito secures investment to enhance AI contact centers

MASSACHUSETTS, UNITED STATES — Cogito, a frontrunner in real-time artificial intelligence (AI)-driven coaching for enterprise contact centers, has announced a new funding round.

This latest investment is backed by renowned financiers, including Goldman Sachs Asset Management, Telcom Ventures, and others, showcasing robust faith in the potential of human-aware AI to reshape the contact center landscape.

“Cogito’s expertise in AI solutions for contact centers positions them to capitalize on this exciting market opportunity for large enterprise companies to usher in a new era of CX- and EX-led business growth,” said Joe DiSabato, Managing Director at Goldman Sachs. 

The modern economic environment and the rapid influx of technology have seen customer service leaders juggling heightened complexities. 

While technology like chatbots promised efficient self-service for customers, many find their issues unaddressed, nudging a more profound dependence on contact center agents. 

“Regardless of which end of the phone you sit on, contact center interactions are becoming increasingly convoluted, placing undue burdens on customers, agents, and contact center organizations as they seek new ways to alleviate frustrations and solve complex issues faster,” said Josh Feast, CEO and co-founder of Cogito. 

Agents, in response, are burdened with the dual roles of problem-solving and upselling. This dynamic not only affects the customer experience but strains agents, evidenced by a jump in attrition rates from 30% to a record 45% over the past three years.

With its new funding, Cogito plans to delve deeper into generative, emotion, and conversation AI to address challenges like managing the rising complexity of customer issues, arming agents with real-time AI coaching for effective engagement, and reducing employee turnover.

Further solidifying its growth ambitions, Cogito has welcomed Naomi Nuta as Vice President of Marketing and Mark Theall as Vice President of Growth.

Cogito has intensified its initiatives to improve contact center interactions. Its recent collaboration with Medallia aims to augment contact center engagements, providing both customers and agents with enriched experiences.