Texas-based Inbenta has announced its acquisition of Toronto software firm Horizn, which provides easy-to-embed interactive product demos.
The financial terms of the deal were not disclosed. The acquisition will see Horizn’s tech integrated into Inbenta’s artificial intelligence (AI) customer experience platform, while Horizn co-founder and CEO Janice Diner will become Inbenta’s head of marketing.
“The entire Horizn team is excited about this next stage of impact and innovation and looks forward to integrating itself into Inbenta’s leading customer experience platform.”
– Janice Diner, Horizn
Inbenta helps companies improve customer experience with conversational AI. Per Inbenta, the deal will expand its offering beyond text and enable clients to “rapidly develop, edit and deploy helpful step-by-step tutorials, improving self-service and reducing agent escalation.”
“By acquiring Horizn, Inbenta has expanded the number of customer experience touchpoints that it can offer, setting itself apart from the industry’s text-reliant majority,” Diner said in a statement. “The entire Horizn team is excited about this next stage of impact and innovation and looks forward to integrating itself into Inbenta’s leading customer experience platform.”
Founded in 2011, Horizn describes itself as a “digital adoption platform designed exclusively for banks and financial institutions.” The company’s software aims to equip employees and clients with the knowledge to improve customer experience and accelerate digital adoption.
Horizn’s customers include Wells Fargo, Royal Bank of Canada, National Bank, Scotiabank, BMO Financial Bank, First Direct, and Northwest. According to its LinkedIn page, Horizn currently has 64 employees.
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Inbenta provides conversational AI as a service, including AI-powered chatbots, knowledge management, and search engine tools to clients like DocuSign, HP, BMW, Samsung, and Deutsche Bank. Within the AI chatbot for customer support space, Inbenta’s competitors include Toronto-based Ada.
For Inbenta, the Horizn acquisition comes about eight months after the company announced $40 million USD in funding led by Austin, Texas-based private equity firm Tritium Partners and a new CEO in Melissa Solis, previously of Tritium Partners.
“Everyone knows how helpful and time-saving a tutorial can be when presented in an easy-to-understand, visual format,” Solis said in a statement. “At Inbenta, customer experience is at the center of everything we do—it was only natural that product demo capabilities should be included within our customer experience platform.”
Feature image courtesy Horizn.
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