Tethr, an Austin AI startup that helps businesses learn about customers by transcribing and analyzing conversations, has raised a $15 million round of venture capital.
The Series A round was led by Grotech Ventures, a Vienna, Va.-based early-stage venture capital firm, and MissionOG, an early and growth stage B2B firm based in Philadelphia. It represents yet another Austin AI startup raising a strong round. Other AI fundings in the past year or so in Austin include: SparkCognition, CognitiveScale and Mythic Inc.
Tethr is a product of CollabIP Inc., which was founded in Minnesota in 2012 by two former Best Buy corporate employees. It had raised about $10 million in funding prior to this Series A, federal filings show.
The startup has 50 employees, will double its headcount next year and is looking for a new headquarters, 512Tech reported. The startup currently has 12 job openings listed.
Tethr's platform listens in on phone conversations from desk, mobile, Skype or other recording platforms. It transcribes those discussions and, then, AI and machine learning helps analyze those calls for insights.
"Companies have tried unsuccessfully to capture voice-of-customer insights by manually listening to phone call recordings, using outdated tools that provide proxy insights via sentiment or emotion, or distributing surveys that reinforce their bias," Tethr CEO Mike Mings said in a news release. "With Tethr listening to, analyzing and surfacing actionable insights from every customer phone conversation, companies can finally use the information customers are telling them directly to improve business performance and drive better outcomes.”
