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Spitch announces breakthrough year results

24 February 2022

Spitch announces breakthrough year results

Spitch announces breakthrough year, a global leader in Conversational AI solutions, is proud to report that more than 40 enterprises worldwide, digital leaders in fact are operational with its Conversational AI platform, the most complete of its kind available today. The Omnichannel platform provides Virtual Assistants (text and voice), Speech Analytics and Voice Biometrics as well as Knowledge Base, Сhat Platform and all seamlessly integrated within their existing infrastructures.

Market conditions helped to foster its growth during the year. For example, the Financial Services sector faced a perfect storm in terms of the challenges from disruptive elements in the market, with the resulting focus on:

  • Cost reduction, whilst enhancing customer satisfaction
  • Coping with reduced customer face-time
  • Ensuring continuity of customer contact via any channel they chose
  • Adapting to the new norm in interacting with staff, suppliers and customers
  • Managing risk, including fraud and compliance

This in turn drove growth of 130% CAGR in the conversational AI market, as Enterprises looked for concrete solutions that addressed their pain points, delivered in quick-time, achieved proven ROI and ultimately prepared them to be adaptable and nimble for what could be thrown at them next.

Through its trusted end-to-end conversational AI platform, Spitch enabled its customers uniquely with:

  • True Omnichannel capabilities, including voice and text
  • The full stack of conversational technologies
  • A comprehensive set of tools and OOTB models with low-code, no-code capabilities
  • Big Data reusability across internal systems, with deep analytics capability
  • Utmost privacy and security allowing on-prem, cloud and hybrid implementation models

These distinct advantages made Spitch the leading provider in Switzerland, heralding many additions to its large, operational customer-base across Europe and the US, including Baloise Insurance, PostFinance, Gruppo Reale, Versicherungskammer Bayern, large customers in the USA, Middle East and Eastern Europe, soon to be announced as well as several other blue-chip market leaders.

With multiple five-star reviews for its solutions on Gartner Peer Insights and Gartner Digital Markets platforms Spitch more than delivered on its promises and is particularly proud and honoured to be a trusted partner to SAP, Swisscom, NTT Data, TCS Group, swisspro, Adnovum and many others.

In addition to the previous Gartner Reports, in which Spitch was listed as “Cool Vendor”, the company has been recognized in the Forrester report “Best Practices and Trends: Voice Biometrics”, published in 2021.

The last two years have seen Spitch revenues grow far above the market rate up to 400% year-on-year. As a B2B2C provider, Spitch solutions handled over 50 million end-user interactions the last year. This level of growth could not have happened without its laser-focus on selling only what it can deliver and doing so strictly to the timetable… this is Switzerland after all.

The year saw the successful implementation of many projects for Spitch and an ever-increasing trust from existing and new customers alike, not to mention its valued partners. Adding to this achievement, the completion of the first round of investment in 2021 has paved the way to the next fundraising event in 2022, enabling Spitch to scale-up and establish new relationships. Spitch meanwhile continues to invest in business development, especially in the European and US markets and in the continuous enrichment of its conversational AI platform.

Spitch is keenly focused on expanding sales and increasing its global market share to continue the strong growth in FY2022. Spitch CEO and founder, Mr Alexey Popov, commented on the breakthrough year results: “We’re proud to be able to deliver both immediate and tangible business value to our customers and honoured to be their strategic partner and trusted advisor on their conversational AI journey. We’re confident that our unique value proposition will help us expand our Swiss leadership to the other countries on the global level in the years to come”.