RALEIGH – Cloud communications platform thinQ has acquired teli, a privately-held, Denver-based provider of text messaging APIs.
With the acquisition, the two combined companies will rebrand, and will now be known as Commio.
The company will combine technologies to provide an integrated cloud communications platform as a service (CPaaS) to its clients, the company said in a statement.
“Businesses today want to deliver a seamless customer experience across lots of communication channels and devices,” said Aaron Leon, CEO of the company, in an interview with WRAL TechWire. “They don’t have the time to learn the complexities of telecommunication infrastructure or how calls and text messages are delivered. They just want to have better quality conversations.”
Commio comes from a combination and shortening of “communications” and the better communications that can flow “in and out,” using technology like those developed by thinQ and teli, noted Leon.
“We started thinQ a decade ago to help our customers communicate with their customers, creating software that would reliably put their calls and text messages through,” Leon said. Acquiring teli is a natural extension of the company’s roots, Leon noted, and the company now plans to strengthen its customer experiences while reducing overall cost to customers.
Technology developed by the company is used by more than 1,500 clients, including Zoom, Leon noted. “We’ve experienced year over year growth of more than 40% and customer retention north of 90%.”
The combination of companies will also lead to new features and products, as the company announced in a statement that it will add enhanced redundancy capability in the early part of 2022.
The combination comes at a time when the industry is experiencing rapid growth, said Leon, noting that some analysts project a 39% increase in spending in the next five years.
“More organizations are putting customer experience fueled by CPaaS integration as a priority,” said Leon. “Commio has uniquely and strategically placed itself to appeal to this market.”
Smartphone adoption is near all-time highs and customers want omnichannel, cross-context experiences, said Leon. “That’s what we power,” he added.
The company moved to a fully remote work environment after the onset of the global coronavirus pandemic and does not have a set date to return to an in-person office environment, Leon told WRAL TechWire. The company employs more than 40 people who are located in the Triangle, Leon said, and plans to hire in sales, marketing, and development.
After the deal, there were no changes to board composition and company leadership has been integrated, Leon said.
Financial terms of the deal were not disclosed.