Echo AI, Startup Featured on Takeover List, Sold to Software Provider
Echo AI, whose generative artificial intelligence tools allow companies to analyze customer conversations, has been bought by Calabrio, a maker of software for contact centers that’s owned by private equity firm Thoma Bravo, according to Echo CEO Alexander Kvamme.
Seven-year-old Echo was one of 78 startups included on The Information’s list of generative AI startups that were likely acquisition targets because they had not raised money in at least two years or because they were developing cost-intensive products like foundation models or robots.
Echo, with 40 employees, had raised $35 million from investors including Kleiner Perkins, Insight Partners and Quiet Capital, most recently in April 2021. Echo’s employees started integrating their technology into Calabrio’s offerings this week, said Kvamme on LinkedIn. Terms of the buyout weren’t disclosed.