Venture Capital

Conversica Completes $25 Million Financing From Morgan Stanley

FOSTER CITYConversica, Inc., a provider of Conversational AI solutions for enterprise revenue teams, has completed a $25 million financing with investment funds managed by Morgan Stanley Expansion Capital. Conversica will use the capital to support strategic business initiatives as it prepares for growth.

“Today, AI is more than a technology. It’s an essential strategy for intelligent automation that we believe will transform customer lifecycles and drive unbridled revenue growth,” said Jim Kaskade, CEO of Conversica. “Our partnership with Morgan Stanley Expansion Capital and this growth financing positions us to go public in the future. We’re now very focused on larger enterprises, who view AI as a critical part of their ability to deliver exceptional digital experiences to their end-customers, at scale. It’s going to spark an inflection point for our company and we couldn’t be more proud to have the financial backing of one of the largest growth-focused banks on the planet.”

Conversica provides Conversational AI solutions, uniquely focused on revenue growth versus cost savings. Conversica’s Conversational AI helps enterprise marketing, sales and customer success teams attract, acquire and grow customers at scale across the entire customer revenue lifecycle. Conversica is expanding its company portfolio and customer base with a focus on mid-market organizations and large enterprises as they are the primary audiences seeking massive revenue growth from AI and automation. Conversational AI will deliver better conversational experiences, build meaningful customer relationships and bolster revenue at scale.

“In our increasingly digital world, exceptional customer experiences will be the competitive battleground where organizations vie for market share. AI solutions are key for companies seeking advanced automation as a means of differentiation. We believe that only digital automation leveraging AI will deliver greater personalization, timely response and consistent engagement across all digital touch points. We foresee significant increases in demand for the Conversational AI market. We are thrilled to support Conversica as a leader in this exciting space and are confident in the company’s upcoming developments and long-term outlook,” said Nick Nocito, Executive Director of Morgan Stanley Expansion Capital.