Company Accelerates Market Penetration and Expansion of Product Capabilities
Los Altos, CA — December 14th, 2004 — TuVox, the pioneer in enterprise software for speech applications, today announced an 800 percent increase in revenue during fiscal 2004. This extraordinary growth has been fueled by continued acceleration of customer acquisition, significant momentum with strategic partners and the delivery of seven new product releases. Demonstrating strong support from the investment community, the company also rounded out the year with the closing of a $15 million equity financing led by new investor Norwest Venture Partners (NVP).
"TuVox's momentum over the past year is a clear indicator that the market is adopting a better approach to customer service," said Daniel Hong, Voice Business Analyst at Datamonitor. "Spending on speech-enabled self-service solutions in North America will more than double from $480 million in 2004 to $1.2 billion by 2008. The cost effectiveness and improved design capability of speech application software from companies like TuVox will enable more enterprises to replace their outdated IVRs with a high quality speech self-service solution that provides a better caller experience."
The most recent customer acquisitions, such as AmeriMark, Greyhound and TV Guide, add to TuVox's rapidly growing roster of customers, which includes Columbia House, MCI, Netflix, Oriental Trading Company and the United States Postal Service. These newest customers will be in production over the next 30 to 60 days, further demonstrating TuVox's unique ability to reduce the time and resources required to deploy, update and maintain sophisticated enterprise speech applications.
A key component to TuVox's success in 2004 was the company's continued investment in innovation, furthering its technology lead in the marketplace. This year, the company launched seven new products, including the latest upgrade to TuVox's flagship product — TuVox CVR 4.0 and a number of new pre-built applications, such as TuVox Perfect Connect and the recently announced TuVox Perfect Router application. The industry has recognized TuVox's unique innovation through multiple awards over the past year, including two 'Product of the Year' awards.
"The number, size and scope of successful deployments demonstrate TuVox's ability to put 'Speech Within Reach' by offering customers a way to cost effectively deploy highly customized speech applications quickly and easily," said Larry Miller, president and CEO, TuVox. "The significant increase in sales and the considerable expansion of our customer base during 2004 clearly point to increasing consumer acceptance of voice self-service and the market's excitement around the benefits and strategic advantage of the TuVox solution. With our recent $15 million in financing, we are accelerating the expansion of our product capabilities and market penetration, including the opening of our European Operations."
Launched in early fiscal 2004, the TuVox Partner Program continues to expand. Through strategic partnerships with companies like Convergys (NYSE: CVG), Genesys (NYSE:ALA), ScanSoft (NASDAQ:SSFT), VoiceGenie and Verascape, TuVox has successfully closed a number of joint customer wins this year.
"We began the year with a clearly stated objective to be recognized as a leader in the speech application market, and we are confident that our continued momentum is enabling us to achieve that goal," continued Miller. "The growing acceptance of TuVox solutions has been driven by our success in consistently enabling our customers to deliver a better caller experience and higher levels of automaton than their existing IVR systems. In 2005, we will build on this momentum to further solidify our reputation as a company that always delivers for its customers."
TuVox is the leading provider of enterprise software for speech applications. TuVox's award-winning software creates a superior caller experience through sophisticated speech applications that are fast to develop and easy to deploy and maintain. Built completely on open standards, TuVox's enterprise software can automate virtually any type of call - including natural language call routing, self-service transactions, information requests and customer support. TuVox has pioneered industry-leading SmartGen™ technology that allows enterprises to quickly create highly sophisticated and conversational speech applications from their existing content, data and business processes. TuVox's mission is to create high quality voice applications that deliver a superior and differentiated caller experience, and to make voice automation so cost-effective that any enterprise can deploy it.
TuVox customers include companies such as Activision, CBCA, Columbia House, Definity Health, MCI, Netflix, Oriental Trading Company, Roxio, TiVo, and the United States Postal Service.
For a demonstration or more information, visit www.tuvox.com or call 1-866-257-1830 to speak with one of our representatives.
TuVox is a trademark of TuVox Incorporated. All other company or product names mentioned may be trademarks or registered trademarks of the respective companies with which they are associated.