SpeechCycle Closes $10 Million Equity Financing

SpeechCycle Inc., a leading provider of on-demand, intelligent automated agents for the cable and telecom industry, recently announced the completion of a $10 million round of equity financing. The funding, SpeechCycle’s first institutional round, was led by M/C Venture Partners, an established venture capital firm focused on the communications sector. Additionally, Matthew Rubins, General Partner for M/C Venture Partners, will join SpeechCycle’s Board of Directors.

“SpeechCycle delivers an incredibly strong value proposition to the communications industry, which we know well. Its strong technology and success with the cable industry position SpeechCycle to be a breakout company in the rapidly growing speech applications space,” said Rubins.

SpeechCycle’s LevelOne automated agents, comprising the industry’s only triple play automation suite, are currently used by major cable and telecom service providers for broadband, video and digital phone technical support. SpeechCycle will use the new funding to aggressively expand sales and marketing both domestically and internationally, to extend its current product offerings, and for the rapid development of new automated agents.

“Today we are handling millions of calls every month for many of the leading cable and telecom providers in the world. Our LevelOne automated agents, built on Speech 3.0 technology, are designed to handle complex customer care calls and provide our customers a viable alternative to outsourcing call center operations,” said Zor Gorelov, CEO and founder of SpeechCycle. “The financing provided by M/C Venture Partners combined with M/C’s focus on the communications sector allows us to pursue new opportunities and accelerate our growth. Further, we are excited to work closely with Matt Rubins, a strong addition to our Board of Directors.”

SpeechCycle is a leading provider of speech self-service applications for digital service providers. The company’s LevelOne agents automate the full lifecycle of speech self-service capabilities, making sure the best agent is always on the call. The SpeechCycle SaaS platform allows organizations to deploy speech self-service applications in a fraction of the time and at a fraction of the cost of first- and second-generation speech offerings.

For more information, please visit www.speechcycle.com