Invoca Hits Unicorn Status With $83M Silver Lake-Led Funding Round

Keerthi Vedantam

Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

Invoca Hits Unicorn Status With $83M Silver Lake-Led Funding Round
Photo by CDC on Unsplash
Invoca, a Santa Barbara-based AI software platform that analyzes customer service calls for sales and marketing teams, is now a unicorn.

The startup announced an $83 million Series F funding round on Tuesday that values it at $1.1 billion. Silver Lake Waterman led the round, which takes Invoca’s total private financing to $184 million. New investors Hollyport Capital, Kingfisher Investment Advisors and Fenwick & West also participated, as did existing backers Upfront Ventures, Accel, H.I.G. Capital and Industry Ventures.

Founded in 2008, Invoca’s platform uses artificial intelligence to help customer service call centers better address inquiries and complaints. The company provides its clients with data from those conversations that provide insight into how calls were handled and the outcomes of those interactions.

Invoca’s clients include notable consumer brands such as AutoNation, DirecTV, Orkin and Rogers Communications. The startup, which employs around 400 people, recently reported 70% annual revenue growth and says it surpassed $100 million in annual run-rate revenue.

Invoca said it will use the new funding to “accelerate product innovation” both internally and through acquisitions like its May 2021 purchase of call tracking and analytics company DialogTech. It also plans to “broaden its geographic coverage” beyond its core U.S. and Canada markets and into Mexico, South America and Europe.

The Series F funding follows Invoca’s $56 million Series E round in 2019, which was led by Santa Monica-based Upfront Ventures. Prior to that, the company raised a $30 million Series D in 2016, led by Morgan Stanley Investment Management, and a $20 million Series C in 2014, led by Accel.

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Regard Raises $15M for AI-Powered Software That Help Doctors Diagnose Patients

Decerry Donato

Decerry Donato is dot.LA's Editorial Fellow. Prior to that, she was an editorial intern at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

Regard Raises $15M for AI-Powered Software That Help Doctors Diagnose Patients
Courtesy of Regard

Culver City-based health care startup Regard, which uses AI-driven software to help physicians accurately diagnose patients, has raised $15.3 million in Series A funding.

Pasadena-based Calibrate Ventures and Colorado-based Foundry Group led the investment in Regard, formerly known as HealthTensor. Other investors that participated in the round include TenOneTen Ventures, Susa Ventures, Brook Byers of Byers Capital and Dropbox CEO Drew Houston. The new funding will be used to grow Regard’s team and customer base, the company said in a press release.

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This Week in 'Raises': Regard Secures $15M, MaC Venture Capital Raises $203M for Second Fund

Decerry Donato

Decerry Donato is dot.LA's Editorial Fellow. Prior to that, she was an editorial intern at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

This Week in 'Raises': Regard Secures $15M, MaC Venture Capital Raises $203M for Second Fund
Image by Joshua Letona

This week in “Raises”: A local healthcare startup secured funding to help grow the team and deploy its software to more physicians and hospitals, while Black-led, seed-stage venture capital firm surpassed its goal for its second fund.

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Braid Theory's Plan to Foster the Next Generation of Ocean Tech Startups

Keerthi Vedantam

Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

Braid Theory's Plan to Foster the Next Generation of Ocean Tech Startups
Photo courtesy of the Port of Los Angeles.

San Pedro-based Braid Theory is one of the growing number of accelerators in the country looking to grow the so-called blue economy, which spans a range of ocean-related industries and is estimated at $2.5 trillion a year.

The accelerator is accepting online applications until July 18, with its second-ever program kicking off in August.

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