The pandemic pushed a fast-growing tech company in unexpected directions. While several moves were for survival, others lay the groundwork for a solid 2021.
When CallMiner closed a $75-million investment round with Goldman Sachs at the end of 2019, the speech analytics firm knew the benefits of such a huge capital investment. It wasn’t as clear at that point, though, how fortuitous it would be for the company to have completed that process when it did.
“It was certainly, in retrospect, good timing to have closed on the money when we did, given everything that transpired in 2020,” says Paul Bernard, president and CEO of CallMiner, founded in Fort Myers in 2002.
Those funds were earmarked for efforts to grow the company’s customer base domestically and internationally, increase its channel relationships and expand into additional market segments. “The good news is from a strategic perspective, we continued to move down that path,” says Bernard. “But the pandemic slowed the path of some of those changes and growth, because we wanted to make sure our existing customer base was strong and solid and our team was strong and solid.”
That meant the 2020 first quarter didn’t see a lot of new customer additions. “But we added new customers in Q2 and more in Q3, and we anticipate in Q4 to be almost back on track in terms of our original plans,” says Bernard. “The growth has been slower this year than we originally hoped, but in spite of everything that’s going on, we’re headed in the right direction.”