Chorus.ai raises $16 million to further develop AI for sales call analysis

Chorus.ai, a startup that uses AI (artificial intelligence) to analyze sales calls, announced today that it has raised $16 million. The round was led by Redpoint Ventures. The San Francisco- and Tel Aviv-based startup provides a software-as-a-service (SaaS) offering that uses in-house developed speech recognition, natural language processing (NLP), and AI to transcribe, analyze, and deliver real-time feedback on sales conversations. The aim is to improve sales rep performance and help companies understand why some deals don't close. "Studies show that win rates increase by 33 percent with a proper coaching program in place, yet most managers don't have the time to sit in on calls, and no one has the capacity to learn from the thousands of meetings that take place each quarter," said Roy Raanani, CEO and cofounder of Chorus.ai, in a statement.