Exceed acquired by Genesys ｜West Fountain Portfolio Company Exceed exits via Acquisition
September 2021, Global Cloud Customer Service Solutions Leader Genesys Telecommunications Laboratories, Inc. . (“Genesys”) announces the acquisition of Israeli AI marketing company Exceed.ai . (“Exceed”) to enhance its artificial intelligence robotics dialogue ability, the consummation product layout, for customer’s digitization transformation empowerment.
In August 2020, the West Fountain Global Fund LP (“West Fountain”), which is the West Fountain Parallel Fund for overseas investments, completed its Co-Lead investment into the Series Seed round of Exceed. Other investors in the financing round included Gilot Venture Fund, a top Israel VC fund, the founder of Zoom Technologies and the founder of Walkme.
Exceed, is an Israeli company that specializes in using conversational artificial intelligence ( AI ) to help marketing & sales teams scale up operations. Exceed was named by Forbes as: “One of the 25 most anticipated machine learning start-ups in the 2021.”. Exceed’s next generation AI email platform uses machine learning dialogue technology to mimic the automatic two way conversation between a human being and a potential customer, qualifying and nurturing potential customers before handing them over to human salespeople, which is intended to generate more high quality sales opportunities and reduce customer churn.
Genesys is a global leader in delivering a global channel customer experience and focal point solution with more than 300,000 customers in 80 countries, managing more than a billion interactions a day from the focal point to the back office. For 10 consecutive years, starting in 2008, Gartner ranked Genesys as the leading global focal point infrastructure provider.
The acquisition is significant for Genesys, as it will allow them to take advantage of Exceed’s excellent NLP chat robotics technology to expand its product line to create enhanced conversational AI robots designed for sales and marketing and provide one-stop service for customers’digital transformation with its own platform. Olivier Jouve, Genesys executive vice president, said: “Our acquisition of Exceed will enhance Genesys’conversational AI capabilities, which we believe will bring exponential growth to Genesys’business.”
With the acquisition of Exceed by Genesys, West Fountain Parallel Fund’s investment has achieved a substantial return for the fund in just one year. This is a breakthrough successful outcome for the fund to invest in the early-stage growth of technology enterprises and going forward, West Fountain will continue its efforts to discover quality investments in the field of digital transformation in its efforts to achieve further substantial returns for the fund.