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News » InflowCX strengthens AI with NetFore acquisition

InflowCX strengthens AI with NetFore acquisition

InflowCX strengthens AI with NetFore acquisition
Photo from InflowCX

DENVER, COLORADO — InflowCX, a provider of advisory, consulting, and managed services for contact center and unified communications technologies, has announced the acquisition of NetFore, a software development firm specializing in AI and self-service technologies. The amount of the deal was not disclosed. 

The acquisition aligns with InflowCX’s strategy to expand its AI and automation services. According to industry analysts, AI adoption in contact centers is accelerating, with the IVA market projected to reach $2.8 billion by 2024

Founded in 1997, InflowCX offers strategic advisory, consulting, professional, and managed services for contact centers, focusing on cloud and AI technologies. The company generated revenue of $27.7 million in 2022 and has over 80 employees across the U.S.

NetFore, founded in 2010, builds intelligent virtual agents (IVAs) and interactive voice response (IVR) solutions using natural language processing and machine learning. With around 50 employees, NetFore’s expertise complements InflowCX’s strengths in contact center operations and cloud platforms.

“As companies explore how AI fits into their CX strategy, the combination of InflowCX and NetFore will provide expert guidance in evaluating, deploying, and customizing AI technology to better serve their customers,” said InflowCX CEO Ken Smith.

“InflowCX’s capabilities complement ours in a way that significantly enhances and expands our ability to better serve our clients,” Ken Workun, CEO of NetFore, stated. “The team at NetFore is excited to accelerate our combined competencies and continue our momentum as a growing customer experience software leader.”

InflowCX is owned by Philadelphia-based private equity firm Renovus Capital Partners, specializing in knowledge and talent industries. The firm’s portfolio includes over 25 companies across the education, healthcare, and technology sectors.

As a private equity firm specializing in the Knowledge and Talent sectors, Renovus manages a $1 billion portfolio, partnering with founder-led businesses to drive operational improvements and strategic growth.

With the NetFore deal, InflowCX strengthens its position as a leading AI advisor and implementation partner for contact centers. Its expanded expertise and service portfolio is well-timed as more businesses pursue AI-enabled customer experience to boost efficiency and meet rising consumer expectations.

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