Khoros Acquires Topbox
Khoros, a provider of digital customer engagement software, has acquired enterprise customer experience (CX) analytics software maker Topbox. Financial terms of the deal were not disclosed, but the deal was made possible by a new equity investment from Vista and other investors.
The acquisition of Topbox brings an omnichannel CX analytics solution to Khoros' digital customer engagement platform.
"Topbox is an incredible company with a great product, and I'm excited to welcome Topbox to Khoros," said Jack Blaha, CEO of Khoros, in a statement. "Last year accelerated the push toward digital transformation and amplified the criticality for brands to be better connected to the voice of the customer. With the insights Topbox delivers, and the continued support from Vista and our other investors, Khoros' platform is strongly positioned to empower more brands to communicate with their customers more effectively. Our vision is to help companies create customers for life, and that starts with great customer engagement. Khoros combined with Topbox makes that vision a reality."
Topbox aggregates disparate data from customer touchpoints such as call recordings, chat transcripts, email, social media, surveys, reviews, in-app communications, and web feedback, and applies proprietary natural language processing (NLP) and artificial intelligence.
"Today marks the beginning of a new chapter for Topbox, where we will further our mission in providing businesses with innovative technology to listen to their customers, when and where they talk about their experiences," said Chris Tranquill, CEO of Topbox, in a statement. "There are thousands of organic conversations happening every day that contain business-changing insights, and we're thrilled to join forces with Khoros to deliver actionable insights and even more value to customers."
In addition to funding the Topbox acquisition, Khoros will use the equity investment to advance product innovation and accelerate organic growth.
"We believe Khoros is uniquely positioned to win the massive CX market, which is expanding rapidly as enterprises realize the urgent need to transform the way they listen to and engage with customers," said David Bonnette, managing director of Vista, in a statement. "We are pleased to continue our partnership with Khoros and to support organic growth and innovation as well as strategic opportunities to incrementally augment capabilities as the company continues to lead the next revolution in digital CX."