Israeli B2B data company Zoominfo, a firm that develops go-to-market intelligence solutions, has announced its intention to acquire Chorus.ai, also an Israeli company that developed a conversation intelligence platform for sales teams. The value of the transaction was listed at approximately $575 million in cash.
Founded in 2000, Zoominfo offers accurate and actionable B2B contact and company intelligence to help organizations accelerate profitable growth. It enables sales and marketing teams to execute marketing campaigns and improve sales prospecting efforts with access to on-demand direct-dial phone numbers, email addresses, and background information.
Chorus.ai was founded in 2015, developing a conversation intelligence platform for high-growth sales teams that aims to transform conversations into data and insights. Chorus.ai’s technology transcribes and analyzes business conversations in real-time, with proprietary algorithms detecting key, high-value moments during sales calls. These insights serve as the foundation of a coaching strategy for sales and customer-oriented teams. Its clients include Zoom, Qualtrics, Adobe, TripActions, and GitLab.
Chorus has 14 granted patents and is headquartered in San Francisco, with offices in Tel Aviv, Boston, Toronto, and Salt Lake City.
Together, ZoomInfo and Chorus.ai will allow “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 companies said in the announcement released last week.
“The acquisition of Chorus will accelerate our vision to deliver a modern go-to-market platform that brings together best-in-class intelligence with comprehensive data management, workflow, and engagement software, empowering companies to effectively execute their revenue-generating strategies,” said Henry Schuck, ZoomInfo founder and CEO. “With the largest Conversation Intelligence patent portfolio in the industry, Chorus will advance each aspect of our vision by surfacing a new category of insights, illuminating new workflows, and enabling more targeted engagement at scale.”
Chorus.ai CEO Jim Benton said “ZoomInfo has a bold vision of delivering a world-class go-to-market platform that empowers companies to drive better execution and more revenue. Chorus will play a vital role in helping deliver on that promise with deep, AI-driven insights based on real interactions with prospects and customers, a previously untapped source of crucial data about their relationships.”
Benton will join ZoomInfo as Senior Vice President, Emerging Products.
The acquisition of Chorus.ai will expand ZoomInfo’s total addressable market to $70 billion, the company said. It is its second announced acquisition in two months. In June, Zoominfo said that it acquired Insent, a Japanese conversational marketing platform that identifies website visitors through artificial intelligence (AI) and chatbot technology.