LivePerson acquires Dallas AI startup Conversable
Today’s another big day for the Texas (and Dallas) startup ecosystem.
Conversable, a leading conversational intelligence platform with a focus on the quick service restaurant and hospitality industries, today announced that is has been acquired by LivePerson, a New York-based, leading provider of conversational commerce solutions.
The acquisition brings additional AI, social listening and outbound messaging campaign management capabilities to LivePerson and its conversational commerce platform LiveEngage. With over 18,000 customers including household names like Citibank, HSBC, Orange and The Home Depot, LivePerson is transforming the way people communicate with brands.
Financial terms of the transaction were not disclosed.
“Conversational commerce is about using AI and natural language – a conversation – to interact with a brand,” said Robert LoCascio, CEO and founder of LivePerson. “Consumers do not want to download more apps or navigate websites to order ahead. They want to type, tap or voice order what they want from the messaging services they already enjoy. Conversable brings to LivePerson proven social and marketing capabilities that will enhance our conversational commerce solutions, along with a set of templates and integrations that accelerate bot development for common consumer requests, and commerce tasks like ordering ahead at restaurants. We are excited for their talented team to join our global product and technology organization and the work we’ve been doing on conversational commerce in telecommunications, financial services, retail, travel and automotive.”
Founded in 2015 by Andrew Busey, CPO and Chairman, and Dallas entrepreneur Ben Lamm, CEO, Conversable’s noteworthy clients include McDonald’s, TGI Friday’s, Pizza Hut, Denny’s Sam’s Club and Whole Foods. The company’s headquarters are in Austin with a local presence in Dallas as well. The deal with LivePerson demonstrates another big exit for the founders, who were also members of the founding teams for Team Chaos and Chaotic Moon.
“We are excited for Conversable to join LivePerson in taking conversational commerce to the mainstream market,” adds Ben Lamm, co-founder and CEO of Conversable. “Conversation is a transformative interface and an unprecedented opportunity. Businesses that get started early will have the most important advantage in the AI era: high-fidelity data to train machine learning models. In bringing together our companies, we are paving the way to intuitive and authentic brand conversations throughout the entire customer lifecycle, but the value doesn’t stop there. These conversations arm businesses with a new level of customer understanding.”
More than forty percent of messaging conversations on LivePerson’s LiveEngage platform already include some form of AI bot and automation. LiveEngage enables brands to connect with and create consumer experiences across SMS; popular messaging services such as Facebook Messenger; voice assistants; and a brand’s own apps, website and phone systems.
LiveEngage brings together the AI and automations necessary to operate these consumer experiences at scale, along with the backend integrations to offer capabilities such as payments and order status updates.
“We are very excited about the combined value and innovation that will stem from Conversable’s industry expertise coupled with LivePerson’s leading conversational AI platform for the enterprise.” Sherif Mityas, Chief Experience Officer, TGI Friday’s
The Conversable acquisition brings a suite of complementary tools for building and deploying both structured and unstructured conversations, as well as social listening and outbound campaign management capabilities. Conversable also brings an innovative integration with GM Onstar to facilitate in-car ordering and other brand engagements.