Evolve IP has acquired Jog.ai, a speech analytics and natural-language technology firm, to enhance its cloud communications services with intellectual property that helps users remember, retrieve and record everything that happens on a phone call.
The acquisition will open new markets for Evolve IP and bolster the company’s offerings for businesses in a number of verticals. The technology is suited for contact centers, sales professionals, executives and businesses that have compliance requirements or transcription needs.
Scott Kinka, Evolve IP’s chief technology officer and founding partner, tells Channel Partners his company is “always looking for differentiating IP that fits into our suite of cloud services.”
“Our M&A team identified Jog.ai as a great addition for our cloud communications services that would differentiate our solutions in the market,” he said. “This will absolutely generate new opportunities for Evolve IP partners, particularly in the health care, legal and financial verticals where call recording, transcription and documentation are critical for compliance. As with the rest of the Evolve IP OneCloud, Jog.ai screenplays and call recordings will be certified for the highest levels of compliance.”
Founded in 2016, the Jog.ai application creates a visual, interactive screenplay that links call audio and text transcription together. The screenplay is clickable, can be copied and shared, and allows users to flag important moments for fast reference.
The platform uses multiple speech-analytics technologies on a natural language processing framework and then applies artificial intelligence (AI) and proprietary code to deliver an application that is “unmatched in its combination of ease-of-use, insight and accuracy,” according to Evolve IP.
“It should give (Evolve IP and its partners) a strong advantage,” Kinka said. “If an Evolve IP partner is trying to close business with an organization that has transcription or documentation needs, they will take one look at the demo and will put this on the short list. It is an incredibly useful, visual, and tangible service that provides an immediate ‘aha’ moment.”
M&A has been critical to Evolve IP and the support of its partner community, he said.
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“Over the last decade or so we’ve used acquisitions to grow our sales and support geographically, to expand our product suite and obtain unique IP that we can further develop and help drive new revenues for us all,” Kinka said. “Jog.ai is a great example of the latter piece of our M&A strategy.”
Evolve IP provides cloud solutions to more than 1,900 enterprises and more than 420,000 users in virtually every industry.
“We are incredibly happy to be joining Evolve IP and for the opportunities it provides for our technology,” said Ed Ireson, Jog.ai‘s chief technology officer and co-founder. “Evolve IP’s significant base of accounts, partner community, and sales and marketing acumen will help us realize the growth goals we’ve had for Jog.ai since our start. Additionally, with more software development resources at our disposal, there is much more that we can do to further develop the intellectual property and lead the market.”