ConverseNow — the Austin, Texas-based voice AI technology company with specialization in AI phone ordering and drive-thru tech — announced Tuesday that the company had acquired now-former competitor Valyant AI.
With the acquisition, ConverseNow will be able to accelerate its growth in the drive-thru space and combine the resources/operator partners of both companies to gain shares within the quick-service restaurant industry. For the time being, both companies will operate separately and continue to service their individual customers under their respective brands.
"Our vision is to democratize AI for brands of all sizes, making it accessible across all ordering channels," Vinay Shukla, cofounder and CEO of ConverseNow said in a statement. "This acquisition brings us closer to that goal. We are thrilled to welcome Valyant AI, whose drive-thru expertise complements our Voice AI capabilities in the QSR industry. Together, we offer robust, scalable solutions at competitive rates."
Although both companies offer similar solutions for restaurant operators — including offering virtual ordering assistants in both male and female voices on the phone or in the drive-thru lane that replicate human dialogue and exemplify skills like upselling — Valyant AI adds a couple of new features. For example, Valyant AI has an employee assist AI training program, which allows staff during or after job training to ask the AI assistant questions and receive instant responses. The technology has already been piloted with a select number of operators and will be rolling out fully by the end of this quarter.
ConverseNow, meanwhile, has previously partnered with Google Bard to add generative AI capabilities to its voice assistant and improve conversations at voice AI-powered drive-thrus across the country.
“Joining ConverseNow takes Valyant AI to an exciting new level," Michael Silverman, CEO of Valyant AI, said in a statement. "Our shared values and complementary technologies create a powerful synergy. Our ready-to-deploy infrastructure and ConverseNow conversational and emotional intelligence give us an unrivaled ability to deliver true, accurate, and ethical AI solutions to our customers.”
The acquisition marks yet another merger in the restaurant tech sector that has been slowly shrinking over time as companies have been acquired, merged, or have gone bankrupt. Although the ConverseNow/Valyant AI powerhouse still has plenty of competition as one of several independent voice AI solutions in the industry, a less crowded tech space will mean that the remaining food tech companies will come out stronger.
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