By every metric, 2018 was the most successful year in Invoca company history.
We saw nearly 200 percent year over year growth in enterprise annual contract value (ACV) and grew Q3-Q4 ACV by 115% relative to the last two quarters of 2017. We’re working with top brands in the biggest considered purchase industries including telecommunications (DISH Network and Frontier Communications), insurance (Mutual of Omaha), financial services (SunTrust), and health care (University Hospitals).
We continued to invest in our strategic product partnerships with Google, Facebook, Adobe, and Salesforce, and as the company grew, celebrated the opening of a new office in Denver and will soon move into our new headquarters in the heart of Santa Barbara. And we were fortunate to receive a number of key accolades for product, innovation, and workplace culture.
So after our fiscal year drew to a close in January, it was time to reflect upon what contributed to such great progress, and how we can build upon the momentum throughout 2019.
Focus on Customer Success
The pillar of our success at Invoca is driving business value for our customers. We relish the opportunity to work with the most sophisticated marketers, who use cutting-edge strategies and technology like Invoca to improve advertising effectiveness and deliver great consumer experiences. And there is no better quantitative measure of customer satisfaction than being recognized as the top-scoring Leader in the G2 Crowd Winter 2019 Enterprise Grid® Report for Inbound Call Tracking Software. We received the highest overall score in this report, beating out six other vendors in the call tracking and analytics space. Our high ranking for satisfaction (which is based on customer reviews) underscores our focus on product innovation, unmatched service, and delivering meaningful results for customers. And when I continually hear feedback like “the team is what really stands out at Invoca,” I am confident that we are headed in the right direction.
Driving Meaningful Innovation
Many software companies race to add features as quickly as possible, but it is far more difficult to build products that solve deep and meaningful business challenges. That is why our product, engineering, and data science teams engage with customers through on-site visits and at events like Invoca Summit to iterate on new product concepts. This collaborative approach has helped us push the boundaries of what is possible in call analytics with our award-winning Signal AI platform. When Signal AI earned Invoca a Strong Performer ranking in The Forrester New Wave™: AI-Fueled Speech Analytics Providers, Q2, 2018, researchers noted that “Invoca is advancing state-of-the-art call classification,” and that “Invoca’s unexpected insights can challenge assumptions and reveal uncomfortable truths.” These findings, representing the first time a marketing call analytics platform has been included in a major analyst evaluation, were not only a great piece of third-party validation, but also a source of inspiration to keep delivering customer-focused innovation.
In that respect, we believe that Invoca is more than just great marketing analytics technology—it helps companies build better connections with consumers. Technology has made the process of buying everyday products seamless, but with more complex, expensive, or stressful purchases consumers look for more than convenience—they want to feel confident in their purchase decision. Brands that exhibit strong EQ (emotional quotient) by offering access to expert human advisors instill that confidence when buying products like a mortgage or healthcare plan. And that’s why helping marketers connect the entire customer journey—from digital marketing interactions to offline phone conversations—continues to be the mission that propels our growth.
Being Mindful of Company Culture As We Grow
When I joined Invoca in October 2016, I was amazed at the friendly, passionate culture that permeated the company. Time and time again, new employees pulled me aside to remark how much they enjoyed their first few weeks at Invoca, and how dramatically it differed from places they had worked in the past. And that sentiment extends beyond the office, to participating in community volunteer events together, organizing a company band, and competing in beach volleyball leagues in Santa Barbara.
I am grateful to be part of such a special team, but also very mindful of advice from CEOs I admire, like Jeff Lawson of Twilio, on the importance of strengthening company values. We have to continue building the culture we want as a company, and removing the elements we don’t like. We must hire intentionally to build a great workplace with people who embody our values of learning, teamwork, and customer success.
In 2019, we are off to a fast start as we open a new headquarters in Santa Barbara with 50 percent more space and expand our presence to the metro Denver area. We’ve also recently added five seasoned SaaS executives with experience from companies including Salesforce, Kenshoo, Citrix, Intel, and Oracle, to lead the company toward continued growth.
Looking Forward to 2019
Without a doubt, 2018 was an incredible year for Invoca, and I’m grateful to our employees, our customers, and our partners for helping propel our business and mission forward. The past twelve months have demonstrated the passion of our community for making Invoca a leading marketing analytics provider. I am proud to work with such an amazing group of people and look forward to another year of growth and innovation.
PS – if you would like to learn more about joining us on the Invoca journey, take a look at our open positions. We would welcome the opportunity to grab a coffee and explore how to grow your career as part of the team.