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- Invoca
Invoca Revenue, Valuation, Funding & Investors
Invoca is valued at $1.1B as of June 2022, a 11.0x multiple on its last reported $100M revenue.
Last Invoca valuation
$1.1B
Series F · Jun 2022
Last Invoca funding round
$83M
Series F · Jun 2022
Invoca revenue
$100M
Series F · Jun 2022
Key investors in Invoca
Accel
Upfront Ventures
Salesforce Ventures
Rincon Venture Partners
H.I.G. Growth Partners
Morgan Stanley Alternative Investment Partners
About Invoca
Invoca is a Santa Barbara, California-headquartered conversation intelligence platform that analyzes phone calls and digital interactions for marketing and sales teams. The AI-driven system integrates with Google Ads, Zendesk, and Salesforce to attribute revenue from conversations and trigger automated workflows. Brands like AutoNation, DIRECTV, Mayo Clinic, Mutual of Omaha, and Verizon use Invoca to optimize call routing, personalize experiences, and boost conversions. Founded in 2007, the platform processes billions of interactions yearly across e-commerce and service industries.
Founded
2008
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$100M (Jun 2022)
Valuation
$1.1B (Jun 2022)
Invoca Valuation
Invoca is currently valued at $1.1B, based on its Series F in June 2022.
The $83M round was led by Silver Lake Waterman, with participation from H.I.G. Growth Partners, Industry Ventures, Hollyport Capital, Upfront Ventures, Accel and 2 other investors.
Invoca valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jun 2022 | Series F | $1.1B | 11.0x |
Invoca Revenue
Invoca's latest recorded revenue is $100M, as of its Series F in June 2022. At a $1.1B valuation, that implies a 11.0x revenue multiple.
Invoca revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jun 2022 | $100M | $1.1B | 11.0x | Series F |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Invoca Funding History
Invoca has raised a total of $191M across 4 funding rounds.
Invoca's first fundraising round was a $22M Series C in January 2014. The most recent completed round was a $83M Series F in June 2022.
Invoca funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2022 | Series F | Silver Lake Waterman (lead); H.I.G. Growth Partners; Industry Ventures; Hollyport Capital; Upfront Ventures; Accel; Kingfisher Investment Advisors; Fenwick & West | $83M | $1.1B | Invoca is a cloud-based leader in AI-powered conversation intelligence for revenue teams, helping marketing, sales, and contact center teams analyze calls, connect digital journeys to revenue outcomes, and optimize customer interactions in industries like automotive, telecom, healthcare, financial services, and real estate. Customers include AutoNation, Banner Health, DIRECTV, ORKIN, Rogers Communications, Mayo Clinics, and University Hospitals. The company was recognized as a Leader in The Forrester Wave™: Conversation Intelligence: Sales And Marketing, Q4 2021, and employs nearly 400 people as of June 2022. On June 14, 2022, Invoca raised $83 million in a Series F equity financing led by Silver Lake Waterman, with participation from Accel, Fenwick & West, H.I.G. Growth Partners, Hollyport Capital, Industry Ventures, Kingfisher Investment Advisors, and Upfront Ventures, bringing total equity financing to $184 million at a post-money valuation of $1.1 billion. The round was announced alongside exceeding $100 million in run-rate revenue. Proceeds were allocated to accelerate product innovation via organic development and acquisitions (following the DialogTech deal in May 2021), expand contact center solutions like automated quality management, agent coaching, performance tracking, call routing, and conversational IVR, deepen automotive industry offerings, strengthen contact center partnerships, and grow market presence in the U.K. At the time of the Series F, Invoca reported exceeding $100 million in run-rate revenue. By April 2023, the company confirmed surpassing $100 million in annual recurring revenue (ARR) for its fiscal year ending January 31, 2023, highlighting strong traction in AI-driven solutions for conversation intelligence, including integrations with platforms like Five9 and accolades from Opus Research as Leader and Top Solution for Sales & Marketing in 2022 Conversational Intelligence Intelliview. Invoca launched automotive-specific products like Invoca for Multi-Location CX, AI-powered QA scorecards, and ring group call routing to improve conversions and reduce missed calls. The company onboarded major clients like Subaru of America and focused on North America (95% of base) while expanding globally. |
| Oct 2019 | Series E | H.I.G. Growth Partners (lead); Upfront Ventures (lead); Morgan Stanley Alternative Investment Partners; Bonfire Ventures; Accel | $56M | - | Invoca is the leader in AI-powered call tracking and conversational analytics, helping marketers turn conversational insights into revenue. On October 17, 2019, the company raised $56 million in a funding round led by existing investor Upfront Ventures and new investor H.I.G. Growth Partners, with participation from Accel, Morgan Stanley Alternative Investment Partners, and Bonfire Ventures, bringing total financing to $116 million. This round followed 75% year-over-year bookings growth in the first half of 2019 and served clients like Dish Network, U.S. Bank, Dignity Health, and Gusto, while deepening partnerships with Google, Facebook, Adobe, and Salesforce. Invoca planned to use the funds to accelerate product development, including features like Signal Discovery for real-time consumer intent analysis, double headcount over three years, and broaden ecosystem partnerships in digital advertising, marketing technology, CRM, and affiliate marketing. The company was recognized as a Fortune Best Workplace, highlighting its focus on a transparent, supportive, and inclusive culture. Later developments include a $83 million Series F in 2022 at a $1.1 billion valuation led by Silver Lake Waterman, with participation from Upfront Ventures, Accel, and H.I.G. Capital, after surpassing $100 million in run-rate revenue. In 2023, Invoca announced surpassing $100 million ARR in its last fiscal year, investing in AI innovation, automotive solutions, contact center partnerships, and U.K. expansion. |
| Mar 2016 | Series D | Morgan Stanley Alternative Investment Partners (lead); Salesforce Ventures; StepStone Group; Rincon Venture Partners; Upfront Ventures; Accel | $30M | - | - |
| Jan 2014 | Series C | Accel (lead); Salesforce Ventures; Rincon Venture Partners; Upfront Ventures | $22M | - | Invoca is a Santa Barbara-based company founded in 2009 that provides AI-powered conversation intelligence and call tracking solutions for marketers and revenue teams, helping analyze phone calls from paid search campaigns to improve customer acquisition and revenue. The company began incorporating AI around 2014 to better understand contact center conversations and outcomes. Mobile search drove significant sales volume, with $1.7 billion in transactions over its platform by mid-2014. Later rounds included a $56 million raise in 2018 amid 75% year-over-year growth, a Series F of $83 million in 2022 at $1.1 billion valuation after surpassing $100 million run-rate revenue, bringing total funding to $184 million. Invoca serves B2C brands in automotive, healthcare, financial services, telecom, real estate, and more, with customers like Mayo Clinic, Verizon, AutoNation, and Subaru. It acquired DialogTech in 2021, doubling R&D and investing $20 million in innovation. By 2021, it reported record growth in first half FY21 toward $100 million ARR, with over 2,300 customers and high retention. The company focuses on AI for contact centers, including quality management, agent coaching, and integrations with platforms like Google for smart bidding. |
Who has invested in Invoca?
13 investors have backed Invoca across its funding rounds, including Accel, Upfront Ventures, Salesforce Ventures, Rincon Venture Partners, H.I.G. Growth Partners and Morgan Stanley Alternative Investment Partners.
Lead investors include Silver Lake Waterman, H.I.G. Growth Partners, Upfront Ventures, Morgan Stanley Alternative Investment Partners and Accel.
Invoca Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Jan 2014 | ||
| 4 | Lead | Jan 2014 | ||
| 2 | Participant | Jan 2014 | ||
| 2 | Lead | Oct 2019 | ||
| 2 | Participant | Jan 2014 | ||
| 2 | Lead | Mar 2016 | ||
| 1 | Participant | Jun 2022 | ||
| 1 | Participant | Mar 2016 | ||
| 1 | Lead | Jun 2022 | ||
| 1 | Participant | Jun 2022 | ||
| 1 | Participant | Oct 2019 | ||
This data is available for Pro users. Sign up to see all 13 Invoca investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by Invoca
Invoca has acquired 2 companies to date.
Last acquisition by Invoca was on May 28th 2025. Invoca acquired Symbl.ai for undisclosed valuation.
Latest Acquisitions by Invoca
| Description | - | DialogTech is a Chicago-based conversation intelligence platform that tracks, analyzes, and optimizes inbound phone calls for marketing attribution and revenue growth. Serving Fortune 500 brands such as Brooklinen and HelloFresh, it captures call transcripts, sentiment analysis, and keyword insights to measure campaign ROI. The platform integrates with Google Ads, Facebook, and CRMs like Salesforce, providing dashboards for conversation quality scoring and agent coaching tools used by agencies and e-commerce companies. |
| HQ Country | ||
| HQ City | - | Chicago, IL |
| Deal Date | 28 May 2025 | 24 May 2021 |
| Valuation | undisclosed | $100M |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Invoca acquisitions and their M&A valuation multiples. Start Free Trial | ||
Invoca Competitors
Invoca competitors include listed companies like Rezolve AI, SoundHound and Appier Group, and private ones like People.ai, Amperity and Jasper.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $41M | - | $1.1B | 26.8x | ||
| Private | $70M | - | $1B | 14.3x | ||
| Publicly listed | $47M | ($109M) | $950M | 4.0x | ||
| Private | $75M | - | $1.5B | 20.0x | ||
| Publicly listed | $169M | $19M | $2.7B | 11.3x | ||
| Publicly listed | $281M | $44M | $1B | 2.9x |
Invoca Public Comps
Invoca is still privately-owned, but its public comps include Deluxe, Braiin, ZoomInfo, iFLYHealth, Appier Group, Rackspace, Rezolve AI, Beijing CTJ Info Tech, Sprinklr and ODDITY Tech.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.1B | $379M | 1.2x | 1.2x | 6.7x | 5.6x | |||
| $73M | ($15M) | 15.8x | 13.0x | (76.1x) | 89.6x | |||
| $1.2B | $326M | 2.0x | 2.1x | 7.8x | 5.1x | |||
| $136M | ($7M) | 7.7x | 6.2x | (150.8x) | (144172.5x) | |||
| $281M | $44M | 3.4x | 2.9x | 21.6x | 15.7x | |||
| $2.7B | $244M | 1.5x | 1.6x | 17.1x | 15.0x | |||
| $47M | ($109M) | 23.3x | 4.0x | (10.0x) | (19.3x) | |||
| $123M | $13M | 5.3x | 4.9x | 51.3x | 34.6x | |||
This data is available for Pro users. Sign up to see all Invoca competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Invoca
| When was Invoca founded? | Invoca was founded in 2008. |
| Where is Invoca headquartered? | Invoca is headquartered in Santa Barbara, CA, United States. |
| Is Invoca publicly listed? | No, Invoca is a private, VC-backed company. |
| What is Invoca's valuation? | Invoca was last valued at $1.1B in its Series F in June 2022. |
| How much funding has Invoca raised? | Invoca has raised $191M across 4 funding rounds. |
| What was Invoca's last funding round? | Invoca's last funding round was a $83M Series F in June 2022, led by Silver Lake Waterman. |
| Who are Invoca's investors? | Invoca's investors include Upfront Ventures, Accel, Salesforce Ventures, H.I.G. Growth Partners, Rincon Venture Partners, Morgan Stanley Alternative Investment Partners, Industry Ventures, StepStone Group, Silver Lake Waterman, Hollyport Capital and 3 others. |
| What is Invoca's revenue? | Invoca's latest recorded revenue is $100M (June 2022). |
| What is Invoca's revenue multiple? | Invoca's latest valuation implies a 11.0x revenue multiple ($1.1B valuation on $100M of revenue). |
| Which companies are comparable to Invoca? | Companies comparable to Invoca include People.ai, Amperity, Rezolve AI, Jasper, SoundHound and Appier Group. |
| How many companies has Invoca acquired? | Invoca has acquired 2 companies, including Symbl.ai and DialogTech. |
| What was the largest acquisition by Invoca? | The $100M acquisition of DialogTech in May 2021 is the largest acquisition Invoca has made to date. |
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