ZoomInfo will pay $575M to acquire conversation intelligence startup Chorus.ai
ZoomInfo, which went public last year, is a subscription service which offers data on businesses to sales, marketing and recruiting professionals. It also acquired Insent, a chat function startup, last month.
Founded in 2015, San Francisco-based Chorus uses machine learning and artificial intelligence to analyze customer calls, meetings and emails. Teams can listen to previous conversations to learn from them. Chorus recognizes meeting participants and can analyze their sentiments, among other features.
Here’s how the companies describe the deal in a press release: “The combination of Chorus and ZoomInfo allows customers to make excellent, data-driven decisions through their sales funnel, combining ZoomInfo’s historic top-of-the-funnel strength with insights driven from the middle of the funnel in the customer conversations that Chorus captures.”
The acquisition brings ZoomInfo’s total addressable market to $70 billion. ZoomInfo is valued at about $21 billion. Shares were up slightly Tuesday morning.
“The acquisition of Chorus will support our aim to be a champion for sales professionals, helping them to identify, connect with, and sell to decision makers at the companies who are most likely to buy their products and services,” ZoomInfo CEO Henry Schuck wrote in a blog post.
Chorus CEO Jim Benton will become ZoomInfo’s senior vice president of emerging products as a result of the deal. Chorus had raised more than $100 million in funding, according to PitchBook.