ZoomInfo to acquire Chorus.ai in a $575M all-cash deal

SaaS News -ZoomInfo-drops-$575M-on-Chorus.ai-as-AI-shakes-up-the-sales-market(source: SaaS Industry)
At a Glance

ZoomInfo is set to acquire conversational intelligence provider Chorus.ai in a $575M all-cash deal. The move is aimed to allow customers to make excellent, data-driven decisions through their sales funnel by combining ZoomInfo’s top-of-the-funnel strength with insights, driven from customer conversations that Chorus captures

ZoomInfo has announced its decision to acquire conversion intelligence cloud platform, Chorus.ai in a $575 million all-cash deal, including a cash tax benefit connected to the asset purchase of over $100 million. The company said that the purchase price would be funded with on-hand cash and $500 million in additional financing.  

In a press release, ZoomInfo stated that this planned acquisition of Chorus would add new actionable insights to ZoomInfo’s intelligence layer, unlock new workflows and drive engagements informed by engagements. The deal would also expand ZoomInfo’s total addressable market to $70 billion, generate positive adjusted operating income within 12 months and increase its cash flow in the second half of FY 2022.

Chorus.ai, founded in 2015, employs machine learning (ML) and artificial intelligence (AI) to analyze prospect and customer calls, meetings, and emails. It provides insights to enable revenue teams by listening to previous conversations and learning from them. 

The acquisition would allow customers to make data-driven decisions through their sales funnel, combining ZoomInfo’s top-of-the-funnel strength with insights taken from customer conversations that Chorus captures. Also, by integrating keyword trackers from Chorus into ZoomInfo, revenue teams in organizations would create audiences based on the aforementioned conversational insights and flag deals, renewals that could have otherwise been jeopardized. 

Jim Benton, CEO of Chorus.ai, who will now join ZoomInfo as senior vice president of emerging products, expressed delight at the acquisition and added,

ZoomInfo has a bold vision of delivering a world-class go-to-market platform that empowers companies to drive better execution and more revenue. Chorus will play a vital role in helping deliver on that promise with deep, A.I.-driven insights based on real interactions with prospects and customers, a previously untapped source of crucial data about their relationships.

Jim Benton, CEO of Chorus.ai

Commenting on the funding, Meagen Eisenberg, CMO at TripActions, opined that the acquisition meant a game-changer for the operations of B2B companies’ go-to-market. Stating that ZoomInfo is the key centerpiece that TripActions’ sales team relies on to connect with qualified leads engaging with our marketing campaigns, she added,

“The Conversation Intelligence which Chorus provides not only gives visibility into what happens next, it also allows us to use the voice of the customer to inform our strategy. These insights and actions are essential to driving repeatable success across our entire revenue organization.”

Meagen Eisenberg, CMO at TripActions
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