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  • GTM Technology

Zenarate is a natural language AI Simulation Training enterprise SaaS platform to develop confident top-performing customer and prospect facing agents.

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About Zenarate

Zenarate is a conversation simulation training SaaS solution for call centers. Its lynchpin offering AI Coach serves as a virtual role-play partner for agents to rehearse “stories” – i.e., templates for how to optimally handle types of common queries – and receive feedback based on their performance relative to the client’s best-practice criteria.

The solution possesses an impressive depth in functionality: 1) facilitating both verbal and written practice interactions; 2) simulating the required system navigation and workflow process to resolve a given query type; 3) evaluating the agent not only on the accuracy of their responses’ explicit content but also the use of appropriate emotional tone given the scenario’s nature. The platform provides agents with a highly realistic experiential learning environment, resulting in engaged, prepared, and confident reps that provide stronger customer experiences.

Over the past few years, the Company has accumulated an impressive base of blue-chip customers and has become a leader in a disruptive category. With this strong foundation, the business partnered with Volition to accelerate growth and fund product development.

WHY WE INVESTED

Zenarate has found a strong product-market fit solving a key pain point for customer support centers, evidenced by its 234% year-over-year enterprise client growth and best-in-class SaaS retention characteristics. Customers attest to the platform’s tangible ROI with 33% CSAT improvement, 52% faster agent speed-to-proficiency versus traditional training methods, and a 32% reduction in agent attrition. The clients we spoke with universally plan to expand their usage of Zenarate, praising management’s long-term vision.

the Company has built a competitive moat in a new category. AI Coach is sold with no PII or integration requirements, resulting in the oxymoron of a short enterprise cycle. Its offering is viewed favorably compared to alternatives due to its realistic simulations, ease of use, performance reporting, and top-tier customer support. With this, the company has built strong inroads to leading Fortune 1000 enterprises, resulting in a proprietary data library of best call practices which will become the critical ingredient for facilitating call simulations as large language models become commoditized.

While the call center technology stack remains antiquated, with 60% – 80% on-premises, the market is reaching a long overdue inflection point. Call center cloud software is estimated to grow at a 20% CAGR over the next ten years, driven by hybrid work environments and the expected proliferation of AI-enabled tools. A 2023 survey by Zendesk found that 67% of call center leaders expect to increase spending on AI tools over the next year, with 50% expecting increases of at least 25%. Given that Zenarate sits at the intersection of call centers’ burgeoning adoption of cloud architecture and AI, it is poised to support the industry throughout this adoption curve.

Most importantly, we are deeply impressed with the Company’s leadership, CEO Brian Tuite, and Executive Chairman Rab Govil. The pair possess a unique combination of industry domain knowledge, business acumen, and technical expertise while having an ambitious vision to build a large, disruptive business.

We could not be more thrilled to partner with the Zenarate team and are excited to help the company navigate its next stage of growth.

 

FUN FACTS

  • The Company’s Co-Founder and CEO used to lead contact centers at a Top 5 financial institution.
  • The VP of Customer Success, Holly, has worked with CEO Brian Tuite for over 15 years at various companies.
  • Zenarate is a minority-owned business.
  • The VP of Sales was the decision-maker at Zenarate’s fourth customer prior to joining the team.

ZENARATE'S PERSPECTIVE

To be honest, we didn’t really need the capital. We’ve been building the company from day one with strong unit economics and capital efficiency in mind. We had many VCs reach out to us. However, there were a few things that we were impressed with regarding Volition. First, they are just genuine, caring people that I know our team would love to work with. Second, they truly understand why our product is differentiated and the serious opportunity we have to help people communicate around the world. Finally, the knowledge and expertise that Sean and the team have, not only our industry but in across the venture and business landscape, make Volition the perfect partner for us.

– Brian Tuite, CEO & Co-Founder, Zenarate

Click here to visit Zenarate’s website. 

In The Media

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Zenarate AI Coach Transforms How Agents Learn and Perform Through Natural Language AI Simulation Training Zenarate

PALO ALTO, Calif. and DENVER, June 27, 2023 /PRNewswire/ -- Zenarate, the leading natural...... more

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Zenarate Conversation Simulation AI Coach Wins Gold and Silver in the 2023 Stevie® Awards for Sales & Customer Service PR Newswire

PALO ALTO, Calif. and DENVER, March 9, 2023 /PRNewswire/ -- Zenarate, the leading AI...... more

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How To Select AI Technology For Contact Centers Brian Tuite

Emerging AI technologies empower leaders to transform their businesses and employees to...... more

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