Pindrop has acquired New York City-based Next Caller Inc, a provider of enterprise-grade call verification and fraud detection technology for contact centers. No financial terms were disclosed. Pindrop is backed by Andreessen Horowitz, Citi Ventures, Felicis Ventures, CapitalG, GV, IVP and Vitruvian Partners.
Pindrop, the global technology leader in identity, security, and trust for voice interactions, today announces the acquisition of Next Caller Inc., the industry’s smartest enterprise-grade call verification and fraud detection technology for contact centers.
Before the pandemic, CMO.com reported more than 91% of business decision makers investing in voice technology solutions. Since the start of the COVID pandemic, this investment has accelerated as consumers change the way they interact with brands. This shift has resulted in a dramatic increase in the need for security in the voice technology stack. This acquisition positions Pindrop for rapid growth, expands its world-class customer set, and consolidates its position as industry leader in all things voice security, including fraud prevention, authentication, and verification. The two companies will work together to provide unparalleled security offerings for call center operators – combining agility with deep expertise to offer solutions ranging from the lightest touch to best-in-class comprehensive protection, authentication, and personalization – meeting customers wherever they are in their voice security and customer experience journey.
The timing of this acquisition couldn’t come at a more important time for contact centers. According to a Forrester Report commissioned by Pindrop in November 2020, on average:
42% of brands surveyed saw an increase in year-over-year call center call volume since the pandemic began
Two-thirds of these brands also reported that maintaining security without negatively impacting the customer experience is a top challenge
65% of companies reported they struggle to manage the high call volume
80% of firms reported fraud is a very serious issue in the call center
“Next Caller is a true pioneer in the device verification space. The growth Next Caller has experienced has been truly impressive to witness. Operating independently as close partners, we’re thrilled to be able to now work together to provide even better solutions to our respective customers and prospects while keeping a close eye on the many growth opportunities ahead of us,” said Vijay Balasubramaniyan, Pindrop’s CEO.
“As we thought about the future of our industry, it has always been clear to me that Pindrop would lead the charge. Thus, when the opportunity arose to join forces with the Pindrop team, we jumped. Our two companies will now be able to service the market in its entirety with the right solution for whatever stage of voice security and authentication they are in,” said Ian Roncoroni, Next Caller Co-founder and CEO.
The acquisition will allow current and future customers of both companies to experience greater flexibility and increase their options to support personalization, fraud prevention, ANI validation, authentication and caller verification – all while working with a Pindrop company. Whether they need a lightweight solution or full-stack, multi-factor authentication, customers can now work with the two organizations to accelerate better customer experiences and reduce the average time to serve, while mitigating risk. The partnering of Pindrop and Next Caller combines focus, agility, and a wealth of experience, positioning the two companies to rapidly grow and reach into new vertical sectors.
“We couldn’t be more bullish about the future. The need for our combined solutions will only continue to grow as brands across multiple industries not only look to better secure their voice channel, but also improve the customer experience. Understanding who you are speaking to is the most effective way to build a better relationship with customers, resulting in a higher NPS and subsequently more profitable exchanges.,” added Balasubramaniyan.
Next Caller will operate as a wholly-owned subsidiary and will work under the umbrella of the Pindrop family. Through this, and via cross-team collaboration, Pindrop will provide strategic support, drawing on lessons and insights from its own rapid growth trajectory to inform go-to-market strategies.
The news comes following Pindrop’s recent launch of both a new IVR solution that extends its fraud monitoring and detection capabilities for enterprises and the availability of its state-of-the-art voice authentication technology for use in OTT streaming devices, platforms, and consumer services.
For more information about Pindrop please visit www.pindrop.com.
Pindrop® Solutions are leading the way to the future of voice by establishing the standard for identity, security, and trust for voice interactions. Pindrop solutions protect some of the biggest banks, insurers, and retailers in the world using patented technology that extracts intelligence from the calls and voices encountered. Pindrop Solutions help detect fraudsters and authenticate genuine customers, reducing fraud and operational costs, while improving customer experience and protecting brand reputation. Pindrop Security, Inc., a privately held company, headquartered in Atlanta, GA, was founded in 2011 by Dr. Vijay Balasubramaniyan, Dr. Paul Judge and Dr. Mustaque Ahamad. Pindrop is venture-backed by Andreessen Horowitz, Citi Ventures, Felicis Ventures, CapitalG, GV, IVP and Vitruvian Partners. For more information, please visit pindrop.com.
About Next Caller
Next Caller is the market’s smartest enterprise-grade call verification and fraud detection technology for contact centers. Next Caller’s primary service, VeriCall®, allows businesses to instantly and passively “green light” real customers while flagging suspicious activity (like call spoofing) to stop phone fraud before it starts. With Next Caller, businesses save time, money, and avoid treating customers like criminals—all without compromising security. Next Caller was founded in 2012 with headquarters in New York City. For more information visit http://www.nextcaller.com.