Cisco has agreed to buy CloudCherry, a customer experience management (CEM) company, as part of the strategy to enhance its contact center offerings.
Vinod Muthukrishnan and Nagendra CI are the co-founders of CloudCherry. CloudCherry is backed by investors such as Vertex Ventures, Capillary, Cisco Investments, Pelion Venture Partners, The Chennai Angels and Chiratae Ventures.
CloudCherry in Sept 2018 announced it raised $9 million in Series A funding led by Pelion Venture Partners with additional funds coming from existing investors: Cisco Investments, Vertex Ventures and IDG Ventures India.
CloudCherry earlier said its revenue has more than tripled over the past twelve months. The company has added brands such as Puma, Cisco, DBS Bank and Petronas.
The Customer Experience Relationship Management market grew 15.5 percent to $42.14 billion, the largest software market tracked by Gartner, with SaaS’s agility and flexibility being big drivers, according to Julian Poulter, research director at Gartner.
Cisco and CloudCherry, based in Salt Lake City, UT, will help companies transform their contact center from delivering reactive care to providing predictive support and move from isolated customer interactions to engaging experiences for improved business outcomes.
CloudCherry’s API platform simplifies how customer data is ingested from records, transactional data, and other data sources in real time to help contact center agents close the feedback loop and improve customer loyalty and satisfaction.
“This is the next step in realizing our vision for cognitive collaboration in the contact center, enabling the delivery of the best, most personalized customer experiences, ultimately improving customer loyalty and lifetime value,” Vasili Triant, vice president and general manager, Cisco Contact Center Solutions, said.
CloudCherry team will join Cisco’s Contact Center Solutions business, led by Vasili Triant, vice president and general manager. Cisco collaboration customers include 95 percent of the Fortune 500. Cisco Contact Center business has 30,000+ customers.