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Interactions Corporation

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Interactions LLC
Company typePrivate
IndustryCustomer care
Founded2004
FateActive
Headquarters
Franklin, Massachusetts
,
United States
Area served
Telecommunication, Hospitality, Finance, Insurance and Warranty, Retail, Utility, Consumer Software and Electronics, and Healthcare
Key people
Mike Iacobucci (Chief Executive Officer)
Mary Clermont (Chief People Officer)
Matt Malek (Chief Financial Officer)
Peter Mullen (Chief Marketing Officer)
Phil Gray (Chief Product Officer)
ProductsVirtual Assistants
Websiteinteractions.com

Interactions LLC is a privately held[1] technology company that builds and delivers hosted Virtual Assistant applications that enable businesses to deliver automated natural language communications for enterprise customer care.

Interactions offers Intelligent Virtual Assistants that integrate conversational artificial intelligence and human understanding, allowing businesses to engage with their customers in effective conversations.[2]

History

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Interactions LLC was founded in 2004 and is headquartered in Franklin, Massachusetts.[3] Since inception, Interactions has raised $167M[4] and is venture-backed by Sigma Partners, Cross Atlantic Capital Partners, Updata Partners, North Hill Ventures, Revolution Growth, NewSpring Capital, and Comcast Ventures. Michael Iacobucci serves as Interactions' CEO.[5] Interactions has additional offices in Indiana, Michigan, New Jersey and New York.

In 2010, Interactions received PCI DSS compliance validation.[6]

In April 2012, Interactions was named a 2012 Gartner 'Cool Vendor' in CRM Customer Service and Social.[7]

In November 2014, Interactions announced the acquisition of AT&T's Speech and Language Technology group,[8] along with its AT&T Watson(SM) platform.

In June 2016 the company announced a new service named Curo Speech and Language Platform, based on the acquired AT&T technology, to provide enhanced natural language understanding within its products.[9] Later in 2016 the company updated its Virtual Assistant offering to include a voice biometric add-on, which helps prevent fraud in automated Virtual Assistant interactions.[10]

In May 2017, Interactions acquired AI-based social media engagement innovator Digital Roots.[11] Interactions Digital Roots uses social AI, natural language processing and machine learning to help global household brands engage with consumers on social media. In September 2017, Interactions was named to the Forbes Next Billion-Dollar Startups list.[12]

In August 2020, Interactions joined MassTLC's Tech Compact for Social Justice. The Tech Compact was created under the leadership of the Executive Diversity and Inclusion Steering Committee of the MassTLC Board of Trustees as a way for the industry to come together and bring meaningful change on a scale greater than any one company could achieve on its own.[13]

In January 2021, Interactions was named one of Built In’s Best Places to Work. The company was recognized across four categories: Best Remote-First Companies to Work and Boston’s Best Places to Work, Best Midsize Companies to Work, and Best Paying Companies.[14] In February 2021, Interactions was recognized as a leader in Opus Research Enterprise Intelligent Assistants Report. It followed up this success with similar rankings in 2022, 2023 and 2024.[15]

In July 2022, Interactions secured a $50M senior term loan from Runway Growth Capital. The new investment provided an opportunity for research and development efforts, bolstered operational infrastructure and growth with a primary focus on extending the company’s product roadmap. In November of the same year, Interactions launched Trustera, a real-time, audio-sensitive redaction platform.[16]

In May 2024, a collaboration was announced between Interactions and Kyndryl, the world’s largest IT infrastructure services provider. The announcement highlighted the availability of Kyndryl Interactive AI for Service Desk, a dynamic IT support service that utilizes Interactions blend of artificial intelligence (AI) and human expertise to deliver a hyper-personalized interactive IT support experience.[17]

In August 2024, Interactions launched its new AI-powered agent assist tool Task Orchestration, which aims to reduce Agent Handle Time. The feature was launched together with GoDaddy.[18]

Technology

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The Interactions platform is built on nearly 20 years of work and 131 patents. Its IVA solution combines traditional Conversational AI with Generative AI (GAI). Interactions patented Human Assisted Understanding (HAU), a process that blends Conversational AI with human understanding in real time to deliver conversational experiences across voice- and text-based customer-care channels.[19]

Interactions also develops an agent-assist tool called Task Orchestration. When customers engage with self-service customer support through any channel, the Interactions IVA system quickly authenticates their identity and routes their requests, which removes the need for transferring calls or chats to agents. It also reduces the challenge of introducing AI-powered automation into complex contact center environments by eliminating the need for creating new APIs to communicate between systems and by interfacing with existing robotic process automation (RPA) solutions. Additionally, it is designed for businesses to incorporate real-time human intelligence when needed, thereby ensuring businesses can adopt transparent, responsible AI protocols.[20]

Interactions develops a real-time, audio-sensitive redaction platform named Trustera, which preemptively identifies and protects sensitive information like credit card numbers and solves compliance challenge in today’s contact-center environment: protecting a customer's Payment Card Information (PCI) anywhere it appears during a call.[21]

Services

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Operating under a SaaS business model, Interactions' service includes both an application's design and build, as well as continuous operating and tuning.[22]

Customers

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Interactions' customer base includes consumer-facing companies, including GoDaddy, TXU Energy, Evergy, Progressive, University Hospitals, and Citi. Interactions customers represent the telecommunication, travel and hospitality, finance, insurance, retail, utility, and healthcare industries.[23]

Awards and recognition

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In November 2019, Interactions was named a Gold Winner at the 9th annual Best in Biz Awards. Interactions' Guest Experience Platform (GXP) received Best New Product of the Year in the Enterprise category. This was Interactions second consecutive Gold Best in Biz award, after Interactions Intelligent Virtual Assistant (IVA) secured the top honor in the Enterprise Product of the Year – Marketing Software category in 2018. Interactions IVA also went on to be named a Silver winner at the International Best in Biz Awards in 2019 as well.[24]

In March 2020, Interactions was named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies (MIC) for 2020. The list honors the businesses making the most profound impact on both industry and culture, showcasing a variety of ways to thrive in today’s fast-changing world. 2020 MIC list featured 434 businesses from 39 countries while Interactions was recognized in the Artificial Intelligence category alongside fellow industry leaders, including NVIDIA and Graphcore.[25]

In March 2022, Interactions Intelligent Virtual Assistant (IVA) for Insurance was honored in the New Contact Center Solution category at the 16th annual Stevie Awards for Sales & Customer Service. The Bronze award marked Interactions’ fourth consecutive Stevie award and second consecutive win in this category, following 2021's recognition for Interactions Virtual Collections Assistant (VCA).[26]

In October 2023, Interactions was recognized by Comparably as one of 2023's "Best Places to Work". The company was honored in four categories: Happiest Employees, Best Company Compensation, Best Company Perks & Benefits, and Best Company Work-Life Balance.[27]

References

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  1. ^ "Interactions Corporation raises 12m more to ease the pains of automated customer service". Retrieved 2024-09-10.
  2. ^ Gutierrez, Daniel (2023-01-26). "AI Under the Hood: Interactions". insideAI News. Retrieved 2024-09-10.
  3. ^ "Franklin firm works to improve business interactions". Retrieved 2024-09-10.
  4. ^ "The 10 Top Funded Artificial Intelligence Startups in Boston". Retrieved 2024-09-10.
  5. ^ "Franklin firm works to improve business interactions". MetroWest Daily News. Retrieved 2024-09-10.
  6. ^ "Interactions corp validated as PCI DSS compliant". tmcnet.com. TMC Net. 2010-11-24. Retrieved 2016-11-24.
  7. ^ "Interactions Corporation named 'Cool Vendor' by Leading Analyst Firm". prnewswire.com. PR Newswire. 2012-04-12. Retrieved 2016-11-24.
  8. ^ "AT&T sells its Watson speech recognition tech to Interactions Corporation in equity deal". venturebeat.com. Venture Beat. 2014-11-05. Retrieved 2016-11-24.
  9. ^ "Interactions Launches Curo Speech, Revolutionizing Customer Care". interactions.com. 2016-07-22. Archived from the original on 2016-11-24. Retrieved 2016-11-24.
  10. ^ Top, Derek (2016-11-23). "Interactions Adds Voice Biometrics to Curo Platform". opusresearch.net. Opus Research. Retrieved 2016-11-24.
  11. ^ "Interactions Acquires Pioneer Digital Roots".
  12. ^ "The Next Billion-Dollar Startups 2017". Forbes.
  13. ^ "DEI Initiatives - Massachusetts Technology Community". Mass Tech Leadership Council. Retrieved 2024-09-10.
  14. ^ "100 Best Places To Work In Boston". www.builtinboston.com. 1992-01-01. Retrieved 2024-09-10.
  15. ^ Top, Derek (2021-02-02). "Opus Research Report: "Decision Makers' Guide to Enterprise Intelligent Assistants (2021 Edition)"". Retrieved 2024-09-10.
  16. ^ "Interactions Launches Trustera, Redaction Solution for Contact Center Compliance". ContactCenterWorld.com. 2022-11-14. Retrieved 2024-09-10.
  17. ^ "Kyndryl announces Kyndryl Interactive AI for Service Desk". Kyndryl. Retrieved 2024-09-10.
  18. ^ Miller, Dan (2024-08-09). "Interactions Takes "Task Orchestration" to Task". Retrieved 2024-09-10.
  19. ^ "Interactions LLC Saves $300 Million Annually for Top Clients". Yahoo Finance. 2024-04-30. Retrieved 2024-09-10.
  20. ^ "Interactions Launches Task Orchestration, an AI-Powered Agent Assist Solution that Transforms Customer Experience and Operational Efficiency in Contact Centers". Yahoo Finance. 2024-08-06. Retrieved 2024-09-10.
  21. ^ "Interactions Launches Trustera, Redaction Solution for Contact Center Compliance". ContactCenterWorld.com. 2022-11-14. Retrieved 2024-09-10.
  22. ^ "Humana expands deployment of voice portal technology". 3 November 2011. Retrieved 2024-09-10.
  23. ^ Top, Derek (2024-05-10). "United Airlines, TXU Energy, and Memorial Hermann Among Opus Research's 2024 Conversational AI Award Winners". Retrieved 2024-09-10.
  24. ^ "Fast Company Innovative AI Companies". go.interactions.com. Retrieved 2024-09-10.
  25. ^ "Infobip named to Fast Company's Annual List of the World's Most Innovative Companies of 2024". Infobip. Retrieved 2024-09-10.
  26. ^ "Search All Past Stevie Winners and Finalists". Stevie Awards. Retrieved 2024-09-10.
  27. ^ "Interactions Named One of Comparably's Best Places to Work". GlobeNewswire News Room. 2023-06-28. Retrieved 2024-09-11.
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