Advance in Customer Care Technology Introduced by Interactions

New Management Team and Customer Deployment Announced

Leading Venture Capital Firms Increase Investment

BOSTON & INDIANAPOLIS--()--Interactions Corporation, a provider of innovative customer care communications for interactive systems, officially unveiled its new breakthrough technology and automated voice platform now being used successfully by industry leading customers. The Company also announced an additional round of investment totaling $6.3 million and a new management team led by President & CEO, Mike Iacobucci.

Building upon earlier speech recognition and Web customer care solutions, Interactions’ patented HumanTouch™ technology integrates a crucial level of understanding into automated systems -- enabling a productive two-way dialogue, quick and efficient responses to customer requests, and an easy and natural way to communicate. The Interactions platform realizes both the value and benefits of automation, while delivering an engaging customer experience beyond that offered by any other system or service currently available.

Since ramping up investments in both its technology development and operational improvements, the Company introduced its new voice platform to a select group of customers. Now millions of calls and transactions later, these customers’ expectations have been exceeded on every measure of performance.

One such customer, Allconnect®, Inc., provides a valuable service to consumers of many energy and communication companies in the U.S. Through a network of service providers, Allconnect helps consumers easily compare and connect home services, such as satellite and cable TV, Internet, phone, and utility service.

"Allconnect works on behalf of some of the most well-known brands in the world, and it is critical that we deliver the best possible consumer experience," said Allconnect CIO Neil Singer. "Interactions is the first automated solution we’ve used that is truly the same as talking directly with an actual person. With Interactions, we are able to respond to callers more quickly, improve their overall experience, and optimize the time our Home Services Consultants spend with callers."

Interactions’ patented technology captures virtually any data -- including email address, login IDs, product and problem descriptions -- and it can even interpret free-form responses. These applications are more resilient to background noise, accents, and other factors that degrade the performance of traditional speech recognition systems and frustrate callers.

“We’re delighted to be implementing a customer care technology that provides an unprecedented level of understanding and gives consumers the information they need anytime and anywhere,” said Mike Iacobucci, President & CEO of Interactions. “Our technology is fast becoming the new model for voice automation that, when combined with a company’s existing systems -- telephony, Web, or back-end -- delivers a customer experience and economic value unlike anything on the market today.”

The Interactions solution works with and enhances existing IVR (Interactive Voice Response) platforms, speech, and Web applications, providing a proven impact on ROI – getting applications up and running 3x faster than the competition at a fraction of the cost. Supplemented by a small pool of human “intent analysts,” who provide an additional layer of understanding, the technology automatically routes a customer’s utterances to either a traditional speech recognition engine or an intent analyst at any point during the call. Actual recordings of customers experiencing the Interactions difference can be heard at www.interactions.net.

"There is a real need to improve both the customer experience and performance of service delivery,” according to Keith Dawson, Senior Analyst at Frost & Sullivan, an authority on call centers and the management of customer care technology. “By boosting a company’s level of understanding of what customers actually need, Interactions helps meet both of these needs. Interactions has the potential to change the negative consumer perception that has plagued the IVR industry for years."

The company also announced a Series D round of funding from leading venture capital firms, Cross Atlantic Capital Partners, North Hill Ventures, Sigma Partners and Updata Partners. The additional funding will be used to support sales and marketing efforts, as well as the development of new products in the areas of mobile, Web-based and “at location” customer care.

“After truly listening to what their customers need, and then adjusting and perfecting their technology, Interactions is implementing what was a missing link in the evolution of self-service systems,” said Robert E. Davoli, Managing Director of Sigma Partners. “The recent results achieved by the Interactions team in honing their technology and then securing several top customers, establishes Interactions as a company that’s able to quickly scale and make a major impact on the market.”

The company’s management team is led by Mike Iacobucci, who joined the Company as President and Chief Executive Officer in 2009. With over 30 years of technology industry leadership experience, Iacobucci was most recently CEO of Idiom Technologies, a developer of enterprise level translation automation technology, serving Fortune 1,000 corporations and acquired in 2008 by SDL Enterprise LTD. Previously, he was a founder of Books24x7.com, a provider of Web-based digital, technical and business reference content acquired by SkillSoft. Earlier in his career, Iacobucci served as an executive at Phoenix Technologies, Cullinet Software and Focus Enhancements.

Iacobucci recruited key industry veterans for senior management roles at Interactions’ new corporate headquarters outside of Boston, augmenting the Company’s existing technology center near Indianapolis:

Yoryos Yeracaris: Chief Technology Officer; brings a proven track record of delivering highly scalable products on multiple platforms, most recently as Vice President of Engineering / Chief Technology Officer at Silverlink Communications, where he provided automated communications to 9 of the top 10 healthcare insurance companies. Previously, he held executive positions at businesses including InfoMedics, Harlequin, and Language Technology.

Joseph Gildea: Chief Financial Officer; with 25 years experience including at River Ridge Consulting Group, Forum Corporation (a Pearson Company), Books24x7, Quebecor Printing, Phoenix Technologies Ltd., and KPMG.

James Nolan: Vice President of Professional Services; before joining Interactions, he ran the technical account management and advanced technical services at Sepaton – and previously held executive positions at companies such as Incipient, Avaya, and Cereva Networks.

The new executives join veteran members of the management team who have a combined 15 years of experience with Interactions: Kurt Crowley, Vice President of Technology; Jim Dreher, Executive Vice President Operations; Phil Gray, Executive Vice President, Sales and Marketing; and Michael Roche, Director of Professional Services.

“We are delighted to have assembled an all-star team, at all levels of the company, who are totally focused on the experience of our customers’ customers and swinging the pendulum back to providing great customer service to the end user,” continued Iacobucci. “While call centers represent our initial point of contact, increasingly companies are realizing that this gateway into their business is actually an opportunity to build brand reputation, increase sales and reduce expenses all in one.”

Established in 2002, Interactions provides innovative and proven customer care technology and solutions for several of the most respected consumer-facing brands. The Company’s corporate headquarters is based in Boston (Franklin), Mass., with its technology center located in Indianapolis (Carmel, IN). Interactions: Understanding Enabled™. For more information visit www.interactions.net.

Contacts

Interactions Corporation
Phil Gray, 317-810-2800
PGray@Interactions.net
or
Josh Neckes, 212-362-1307
Josh@thunder11.com

Release Summary

Interactions Corporation, interactive customer care systems provided, unveils new breakthrough technology & automated voice platform. Also announced new $6.3M investment round & new management team.

Contacts

Interactions Corporation
Phil Gray, 317-810-2800
PGray@Interactions.net
or
Josh Neckes, 212-362-1307
Josh@thunder11.com