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December 17, 2010

Venture Capitalist Ignition Growth Capital Puts in Money for Spoken Communications

Filed under: Venture Capital News — admin @ 9:28 am

Spoken Communications is a company founded in 2005 and it has its headquarters in Bellevue, Washington, USA. It is the leading provider of a technology of speech recognition for hosted virtual call center systems and call centers. Its hosted ACD (Avaya Automated Call Distributor) hosts the phone switch virtually for cost efficiency and flexibility. The Conversational IVR (Interactive Voice Response), a unique and patented system utilizes a hybrid model that combines the automated and the human. It combines the automated speech recognition with an invisible and real time human intervention on order to obtain a better accuracy and experience for the callers. The company is presently sustaining over 2 million minutes every month in the call recording, hybrid human assisted speech recognition, distribution systems and virtual phone switch.

Spoken Communications has recently announced that they raised no less than $4 million from investments. The company leading this round of financing was the Seattle based private equity firm Ignition Growth Capital. The money will be used for the expansion of the implementation of the virtual call centers of Spoken Communications. This source of funding will allow the company to provide supplementary hosted capacity for the call centers that are seeking for an upgrade in the virtual and work from home models.

It is estimated that in the next two years more than three quarters of the customer service centers will use a hosted software application and that more than half of the conversations related to customer support will occur “in the Cloud”.

The CEO of Spoken Communications, Howard Lee, said that “Spoken Communications is excited to work with Ignition Growth Capital on our strategy to make virtual call center solutions available to call centers facing growing call volumes. Ignitions’s strategic investment allows us to enhance and market our virtualized Avaya switch solution to call centers while supporting further innovation in the field.” Howard Lee was previously the CEO of PhotoWorks and HyperQuality.

Ignition Capital Growth is a private equity group based in Seattle, Washington, USA. It specializes in buyouts and the team brings along a combination of expertise, focus on the specific domains and also an operational experience with partners. The company has more than $2 billion under management and it partnered with Starbucks, Cisco, Microsoft and other leaders on their fields.

To find out more about Ignition Capital Growth, you can visit http://www.igncap.com/

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