Jul
23
2018
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Cogito scores $37M as AI-driven sentiment analysis biz grows

Cogito announced a $37 million Series C investment today led by Goldman Sachs Growth Equity. Previous investors Salesforce Ventures and OpenView also chipped in. Mark Midle of Goldman Sachs’ Merchant Banking Division, has joined Cogito’s Board of Directors

The company has raised over $64 million since it emerged from the MIT Human Dynamics Lab back in 2007 trying to use the artificial intelligence technology available at the time to understand sentiment and apply it in a business context.

While it took some time for the technology to catch up with the vision, and find the right use case, company CEO and founder Joshua Feast says today they are helping customer service representatives understand the sentiment and emotional context of the person on the line and give them behavioral cues on how to proceed.

“We sell software to very large software, premium brands with many thousands of people in contact centers. The purpose of our solution is to help provide a really wonderful service experience in moments of truth,” he explained. Anyone who deals with a large company’s customer service has likely felt there is sometimes a disconnect between the person on the phone and their ability to understand your predicament and solve your problem.

Cogito in action giving customer service reps real-time feedback.

He says using his company’s solution, which analyzes the contents of the call in real time, and provides relevant feedback, the goal is to not just complete the service call, but to leave the customer feeling good about the brand and the experience. Certainly a bad experience can have the opposite effect.

He wants to use technology to make the experience a more human interaction and he recognizes that as an organization grows, layers of business process make it harder for the customer service representative to convey that humanity. Feast believes that technology has helped create this problem and it can help solve it too.

While the company is not talking about valuation or specific revenue at this point, Feast reports that revenue has grown 3X over the last year. Among their customers are Humana and Metlife, two large insurance companies, each with thousands of customer service agents.

Cogito is based in downtown Boston with 117 employees at last count, and of course they hope to use the money to add on to that number and help scale this vision further.

“This is about scaling our organization to meet client’s needs. It’s also about deepening what we do. In a lot of ways, we are only scratching the surface [of the underlying technology] in terms of how we can use AI to support emotional connections and help organizations be more human,” Feast said.

Sep
19
2017
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Google Cloud’s Natural Language API gets content classification and more granular sentiment analysis

 Google Cloud announced two updates this morning to its Natural Language API. Specifically users will now have access to content classification and entity sentiment analysis. These features are particularly valuable for brands and media companies For starters, GCP users will now be able to tag content as corresponding with common topics like health, entertainment and law (cc: Henry).… Read More

Jul
14
2014
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Lexalytics Acquires Semantria To Bring Sentiment Analysis To The Masses

Semantria Lexalytics is looking to bring sentiment analysis to smaller firms around the globe with the acquisition of Semantria, whose Excel-based sentiment analysis tool offers an easy, affordable way to find out the emotions behind customer satisfaction ratings. Read More

Mar
06
2014
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Emotient Raises $6M For Facial Expression Recognition Tech, Debuts Google Glass Sentiment Analysis App

Emotient, a startup based out of San Diego that works in the emerging area of facial expression recognition, is today announcing a $6 million round of funding and its first steps into applying its technology in the wearables market: a new piece of “glassware” for Google Glass that measures sentiment analysis based on reading people through the headgear’s camera. Read More

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