Go-to-market cloud software company ZoomInfo Technologies said Tuesday that it's acquiring Chorus.ai in an all-cash transaction valued at $575 million. Chorus is known as a provider of conversational intelligence, and its software is used by sales teams to extract insights from calls, meetings, and emails with current and prospective customers.
ZoomInfo said that by adding Chorus' technology to its platform, it will gain middle-of-the-funnel intelligence that bolsters ZoomInfo's existing top-of-the-funnel strength.
"For example, the combined company will expand visibility into companies' buying committees by identifying and recommending other key contacts involved in the buying decision or referenced by participants in conversations," ZoomInfo said in a press release. "As Chorus recognizes meeting invitees and participants and listens for their sentiments, motivations, and concerns, ZoomInfo will further enrich the profile of each member with detailed contact and company intelligence. By integrating keyword trackers from Chorus into ZoomInfo, revenue teams will also be able to create audiences based on insights from conversations, flag deals and renewals that could be in jeopardy, and trigger alerts to address concerns in real time."
Founded in 2007, ZoomInfo got its start as a business information search engine, continually crawling millions of websites for information about industries, companies, people, products and services, which were then organized into profiles for use by sales professionals. The platform has evolved over the years to include more data, insights and automation across the sales funnel.
ZoomInfo, which went public last June, said it had over 20,000 customers at the end of 2020, of which 850 were bringing in more than $100,000 in annual contract value. Looking ahead, the company said the Chorus acquisition will expand its total addressable market to $70 billion, and will be immediately accretive to growth, generating positive adjusted operating income within 12 months.