IntelePeer (a leading AI-powered Communications Automation provider) announced the completion of $140 million in new growth funding and debt financing. This strategic growth investment was co-led by Savant Growth and VantagePoint Capital Partners with support from Savant limited partners including Coller Capital, Hollyport Capital, Manulife Investment Management and Achmea. Vector Capital (through its newly formed direct credit strategy Vector Velocity) led the debt financing.
IntelePeer’s enterprise-grade and easy-to-deploy solutions help businesses implement AI-powered omnichannel communications that automate customer interactions. Since its founding, IntelePeer has automated over 600 million customer interactions across voice, messaging, and digital channels while lowering the cost of an interaction tenfold. For example, one IntelePeer customer fully automates over 60 million inbound interactions a year, achieving over 70% full self-serve and call containment rates.
Fortune 500 and large mid-market companies across healthcare, retail, financial services, logistics, transportation, and insurance verticals utilize IntelePeer’s domain-specific AI Agents to enhance their customer and patient service initiatives and experiences while delivering tangible ROI for these businesses.
The company’s recent solutions are already generating millions of dollars in savings for customers, stemming directly from reductions in the number of contact center agents required and enterprise worker productivity enhancements. One customer is on track to save more than $100 million in labor costs by using IntelePeer’s AI Agents to automate consumer interactions and raise self-serve rates to more than 70%.
Stifel, Nicolaus & Company served as financial advisor to IntelePeer. And the new financing enables for the continued execution of IntelePeer’s vision to reinvent the contact center and reimagine the customer experience through AI and automation.
KEY QUOTES:
“IntelePeer grew its AI business by more than 100% year-over-year and is forecasting further acceleration, as a result of our commitment to reinventing the contact center through customer self-service automation. This funding is further validation of this long-term goal. Our unique sales process harnesses GenAI to extract why consumers contact a business. The collected data is used to develop an intent map that identifies what AI use cases will deliver the highest ROI with the best possible customer experience and can be used to create reports ready for executive and board presentations. This funding will enable us to continue growing our AI Agent portfolio, significantly increasing our investment in our product and development teams as well as our sales and marketing initiatives.”
- IntelePeer CEO Frank Fawzi
“IntelePeer has been implementing communications AI and automation since 2020 but saw an acceleration after adopting GenAI which radically increases ROI for customers. While IntelePeer’s workflow capture and guardrails result in rapid reliable implementations, its market leading product success results from its whole product offering including its omnichannel communications workflow engine, call center, integrations and voice quality experience which provides the contact center with full self-serve automation for approximately 65% of calls across its customers.”
“The advent of GenAI has opened the floodgates for businesses to realize massive operational efficiencies while vastly improving customer experience. The measures we have taken, including our partnership with Microsoft Azure OpenAI, ensure the guardrails are in place for responsible AI implementation, a key consideration for all clients looking to implement AI. It’s exciting to have this new backing from investors, and we’ll continue to move forward in developing top-tier AI Agents that provide our customers with best-in-class security and compliance.”
- Javier Rojas, Founding Partner, Savant Growth
“We are excited to draw from our deep credit investing experience to provide a flexible financing solution to IntelePeer and support the company’s transition to its next phase of growth. As the use of AI continues to rapidly grow within the contact center solutions sector, we look forward to leveraging our proven operating support and technology expertise to ensure IntelePeer is best positioned to capitalize on AI expansion opportunities.”
- Nick Ghoussaini, Head of Credit at Vector Capital
