Unveil Calls Up $6.5M From VCs

A maker of speech recognition and language software, Unveil Technologies, last week revealed the close of a Series B round of venture capital, a $6.5 million deal financed by the Waltham, Mass.-based company’s longtime backers, Sevin Rosen, TD Technology Ventures and Solstice Capital.

Unveil’s systems combine automated voice recognition technology with live customer service agents to build call centers.

“The enterprise call center market is looking for a voice self-service solutions that can push the automation envelope while simultaneously increasing customer satisfaction,” says Elliott Swan, a managing director with TD Technology.

Since its first round of venture capital closed a year ago, the company has signed its first customers and a round of strategic partnerships with the likes of Cap Gemini Ernst & Young, Rockwell FirstPoint Contact and Genesys Labs.

Peter Durlach, Unveil’s president, and the rest of the company’s management team are veterans of the automated speech and voice recognition industry. They founded a company called Articulate Systems Inc. back in the 1980s to provide automated dictation services to the health care industry. It was sold to Lernout & Hauspie in 1999 for $28 million, and the team then joined that company, but split in the fall of 2000 to develop the technology that now sits at the core of Unveil.

This year, with a new round of funding in place, the company plans to add staff to its software development team, build a sales and marketing force, commercialize new technologies, and expand into new international markets, says Jim Williams, the company’s director of marketing.

Email Carolina.Braunschweig@thomson.com