Tuesday, August 31, 2021

Invoca Claims Record Results, Says It Will Hit $100M Revenues By EOY

Santa Barbara-based Invoca, which develops call tracking and other customer tracking software, says it is on the path towards $100M in annual recurring revenue (ARR) by the end of its fiscal year. The company did not disclose its current revenues, but said it has seen "record growth" in the first half of FY21. The company has raised $116M in venture capital, from such investors as Accel, Upfront Ventures, H.I.G. Growth Partners, Morgan Stanley, and Salesforce Ventures. Although the company did not say why it was touting its results, the announcement is typical of companies looking at an IPO, acquisition, or other exit efforts.