On Tuesday, Tenfold announced that it closed a $7.5 million Series C, led by Next Coast Ventures with participation from Andreessen Horowitz and Salesforce Ventures.
Tenfold is computer telephony integration company, which means it creates technology that allows phone calls to work with computer software and cloud computing.
Still unsure of what this means? Picture this scenario:
Imagine you’re having trouble with your internet, so you decide to call customer service — something we all dread doing. As soon as the call goes through, you hear an automated voice that gives you several options depending on what department you want to talk to.
You select an option and then get put on hold. After waiting, you hear from a person who asks you to identify yourself and your problem. Once you do that, the customer service rep realizes they can’t help you and pass you to someone else. You have to wait on hold again and then repeat what you just said — again.
This is also a pain for people on the customer service or sales side, who on their end need to hunt down relevant information in their files while talking to a customer. This can take time and may prevent the customer from getting what they want.
Tenfold’s technology integrates phone information with a CRM platform. So as soon as the customer calls in, the person on the other line will have all of his or her information on their computer — making it that much easier to give them what they need.
Tenfold says it has over 600 deployments in more than 60 countries. It works with a number of large enterprise companies and analyzes over 1.5 billion interactions every year.
The company plans to use this new funding to help expand its business.
“This additional funding will give Tenfold the ability to further empower global sales and service organizations to better serve customers at the point of interaction with intelligent ‘no touch’ data capture and streamlined sales and service workflows,” Tenfold CEO Jeff Cotten said in a statement.