Austrian chatbot testing company Botium has now been acquired by Melbourne-based customer experience (CX) assurance platform Cyara. The deal will lead to the addition of chatbot and conversational AI testing capabilities to Cyara’s portfolio. The company will also leverage Botium’s hold on Central and Western Europe to expand in the region.
The chatbot market is rapidly growing with a 22.5% compound annual growth rate (CAGR) projected between 2020 and 2027. The increased use of chatbots and natural language understanding (NLU) throughout the digital customer journey has created the need for solutions that can efficiently and effectively test and monitor the performance of chatbots and conversational AI.
This is where Botium steps in. It offers a platform to build a communication channel with the chatbot. With over 100 million chatbot tests executed on Botium Box and a 92% recurring customer rate, it has a portfolio of over 1,500 Botium Box customers, in addition to 185,000 open source users.
Christoph Börner, co-founder and CEO, Botium said: “We see Cyara as a natural fit as it is well-positioned to lead the digital CX assurance category. Joining its team will give us additional resources to expand our efforts in developing innovative solutions for testing chatbots and conversational AI, as well as reaching a wider global customer base.”
The new buy is part of Cyara’s strategic plan for international growth and product innovation, fuelled by its recent $350 million growth investment.
“This acquisition is a major milestone in Cyara’s growth and it further enhances our ability to help companies assure their end-to-end customer experiences,” said Alok Kulkarni, CEO, Cyara.