Company Sees Unprecedented Growth in AI Bookings, Surpassing Previous Year's Performance

IntelePeer, a leading full-stack conversational AI platform provider, today reported a record-setting fiscal year 2024. In addition to AI-related annual recurring revenue (ARR) growing by more than 40% last year, the company’s bookings grew by 82%, with 90% of those bookings for AI solutions. In addition, the company’s subscription-based business grew approximately 45%.

During the year, IntelePeer saw its customer base turn to its conversational AI platform and suite of AI and analytical capabilities to help provide meaningful and personalized experiences. Throughout the year, more than 300M interactions were handled by IntelePeer’s platform, a more than 50% increase over the previous year. In addition, usage of the company’s revolutionary SmartAgent solution continued to grow with approximately 50% of all transactions being handled by an AI agent.

“IntelePeer was laser focused on AI in 2024 and customers across the board are turning to us to improve their customer interactions,” commented IntelePeer CEO Frank Fawzi. “There is so much potential with the technology and our impressive year-over-year growth in AI-generated revenue is a testament to that potential. Delivering self-serve autonomous AI agents, we’re moving the needle for our customers, enabling them to realize significant ROI by reducing the required labor to handle customer interactions, increase revenues, and drive measurable improvements in their customer and patient experiences.”

Through consistent delivery of innovations within its conversational AI platform, the company introduced a range of new features across its AI, data, and platform areas, including the Automatic Speech Recognition (ASR) engine for high-quality speech recognition, and the Agentic AI framework for orchestrating purpose-built AI agents. In addition, a KPI framework for streamlined reporting of business outcomes was implemented and the company achieved compliance with ISO 27001, PCI, and HIPAA standards.

In April 2024, IntelePeer announced its relationship with Microsoft Azure OpenSource AI Service to deliver advanced solutions to fully automate customer interactions and improve operational efficiencies for businesses while creating a faster and easier customer experience. Other key partnerships in the Healthcare and Finserv spaces include: Kinective, a leader in digital connectivity, document workflow and branch automation for the banking sector; Planet DDS, a leading provider of cloud-based, enterprise-grade dental software solutions; Redox, a leader in healthcare data integration; and Waterfield Technologies, a leading contact center software and systems integrator.

2024 Business Highlights and Customer Successes

• The company raised $140M in new growth financing that allows for the continued execution of IntelePeer’s vision to reinvent the contact center and reimagine the customer experience through AI and automation.
• Fueled by AI, IntelePeer saw its largest bookings ever in Q4 and had dozens of new customers turning to IntelePeer’s conversational AI platform to help provide meaningful and personalized experiences.
• IntelePeer’s platform continued to gain momentum across various industries, including an approximate 85% growth from the healthcare sector.
• The company introduced new speech to text functionality built on a breakthrough streaming architecture and saw improved speech to text accuracy rates go from 65% to 94%.

Industry Partnerships and Recognition

Throughout the year, IntelePeer continued developing key industry partnerships and received numerous accolades for its AI and customer innovation and culture, including:

• IntelePeer SmartAgent and SmartOffice Solutions available in the Microsoft Azure Marketplace, an online store providing applications and services for use on Azure. IntelePeer customers can take advantage of the productive and trusted Azure cloud platform, with streamlined deployment and management.
• IntelePeer partnered with Pindrop, a global leader in voice authentication and security. Through the partnership, contact centers receive the intelligence needed to quickly authenticate callers which enables the automation of more complex customer interactions.
• IntelePeer partnered with 42 North Dental, to deploy IntelePeer’s SmartOffice solution throughout its practices to automate and offer self-serve options for inbound and outbound customer calls, giving patients peace of mind knowing their inquiries will be handled and resolved quickly and efficiently.
• IntelePeer Received the CUSTOMER Magazine Contact Center Analytics Product of the Year Award for its SmartFlows Call Summary that uses AI to enable companies to access real-time data, helping them identify cost-saving opportunities and exceed business revenue goals and objectives. In addition, the company won the CUSTOMER Magazine Product of the Year Award for its SmartAgent solution.

“The momentum we’ve established continues and we remain steadfast in our commitment to deliver best in class customer and patient experiences while helping businesses lower costs. In addition to harnessing the latest AI technologies, we’ll continue to emphasize data and analytics. With real time access to data our AI models will be more accurate, adaptive, and more personalized while providing AI-driven analytics to deliver best-in-class self-serve automation that will help our customers better run their businesses,” concluded Fawzi.

For more information, visit: www.intelepeer.ai

About IntelePeer

IntelePeer streamlines customer interactions, enabling businesses and contact centers to lower costs, enhance the customer experience, and accelerate return on investment. Our comprehensive conversational AI platform integrates effortlessly with existing business software and infrastructure, automating complex processes with ease and delivering engaging, human-like interactions that foster valuable outcomes and insights. With a vendor-neutral approach, IntelePeer harnesses cutting-edge AI and analytics, equipping businesses to proactively address potential challenges while ensuring contextual continuity across all channels throughout the customer journey.

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