Yesterday, we announced our GenAI Conversation Intelligence solution has made significant advances in financial performance, customer acquisition, and product development, reflecting the commitment to innovation that has driven us since day one.
In the first half of our fiscal year ending July 31, 2024, we achieved record financial and operational results. We saw a 155% increase in net new bookings compared to the previous year, marking our strongest back-to-back quarters ever.
This growth was fueled by a 33% rise in the number of contact center agents using the Observe.AI platform and underscored the growing demand for our solutions.
As our CEO and Co-Founder, Swapnil Jain, highlighted, “We’ve continued to deliver tangible value to contact centers, driving record-high business outcomes for our customers in operational efficiency savings, revenue generation, and customer experience.
“We’ve taken generative AI from mere hype to concrete reality by pairing cutting-edge innovation with a relentless commitment to customer success.”
As Swapnil reflects on his journey, he notes its impact, and our vision for the future—one that’s driven by customer success, strong leadership, and cutting-edge technology.
Strategic Wins and Growth
Observe.AI also experienced notable growth in our strategic and enterprise segments. We successfully onboarded new enterprise customers, including the largest US food delivery platform and a leading global tech care company. This expansion resulted in a 193% increase in bookings for these segments compared to the previous year.
Our Conversation Intelligence platform is now deployed across more than 350 contact centers, which are now enjoying rapid time-to-value and strong agent adoption rates. The volume of customer interactions analyzed by the platform soared by 187% over the same period, underscoring its effectiveness in omnichannel contact center operations.
Delivering Rapid ROI
Observe.AI’s commitment to innovation is driving impressive results for our customers. Some highlights include:
- $8 million in incremental revenue for a leading healthcare company
- 50% reduction in after-call work at a healthcare technology firm
- 19% increase in quality scores and 8% reduction in average handle time (AHT) at a major HR software company
- 23% reduction in AHT and 60% reduction in hold time violations at a top financial services firm
- $2 million in annual operational savings for a personal finance technology company
These achievements show how Observe.AI delivers rapid ROI with solutions like Auto QA, Real-Time Agent Assist, and Summarization AI.
Advancing AI in Contact Centers
Observe.AI’s commitment to innovation is clear from our 40% year-over-year increase in R&D headcount as well.
With 65% of our team focused on machine learning and generative AI, we’re advancing the field of contact center technology. This dedication is further demonstrated by our publication of 25 research papers, including five new ones just this year.
Our latest product updates include enhancements to GenAI for Real-Time and Post-Interaction AI, offering deeper insights and more detailed analysis of customer interactions.
We’ve also introduced the next generation of our Summarization AI product, and expanded our ecosystem with pre-built connectors for major contact center systems.
Meet the Leadership Driving Our Next Chapter
To support our growth and ambitions going forward, Observe.AI has made several strategic executive appointments:
- Jason Griggs as Chief Revenue Officer
- Ritu Kapoor as Chief Marketing Officer
- Tina Figueroa as Chief People Officer
- Luke Richardson and Chris Polling as VPs of Sales
- Jim Tennant as VP of Channels
- Colette Wladyka as VP of Demand Generation
- Milind Pansare as VP of Product Marketing
These seasoned leaders bring a wealth of experience and are set to drive Observe.AI forward as we continue to expand our market presence and product offerings.
Celebrate with Us
As we mark these exciting developments, we invite you to celebrate with us! Join us on LinkedIn and X (Twitter), as we commemorate our seventh anniversary using #ObserveAI7Years. Read the full announcement here.
