The Israeli start-up world is applauding another graduate this quarter, GONG. In less than 18 months, this US-Israeli AI startup scored $305 million in funding. Just this past December the company raised $65 million, followed by another $200 million in recent months. Even more impressive than these speedy rounds of fundraising is the valuation of this young Israeli startup – $2.2 billion.
GONG’s software claims to help companies make better decisions as it automatically captures the full range of a company’s interactions with customers – via emails, web conference calls, phone calls, and more – reducing the risk of incomplete or data. GONG then uses patented AI technology to understand what exactly is being said in these customer interactions.
The goal is simple, but the methods are complex. GONG spokesperson explains that its value is in its ability to “help companies uncover patterns and trends in the data, leading to insights that can help increase sales, reduce churn, and increase market share.”
- A rapidly-expanding customer base, currently over 1,100, including such names as Autodesk, Hubspot, LinkedIn, MuleSoft, Outreach, PayPal, Shopify, Slack, Twilio, Zillow, and Zoominfo
- Over 64,000 sales and support professionals using the platform
- The recently launched Deal Intelligence module, providing sales professionals with unprecedented deal pipeline visibility and alerts on deals requiring intervention
The latest funding was led by Coatue and joined by Index Ventures, Salesforce Ventures and Thrive Capital, with participation from existing investors Battery Ventures, NextWorld Capital, Norwest Venture Partners, Sequoia Capital and Wing Venture Capital.
This US-Israeli company is certainly one to keep an eye on. It continues to move the industry forward in the areas of AI and customer service, empowering brands and businesses to optimize their operations. GONG is another success story of great Israeli companies that helps others to make better decisions, and ultimately become more profitable. This is a recipe for success.