ConverseNow – the Austin, Texas-based voice AI technology company specializing in AI phone ordering and drive-thru technology – announced Tuesday the acquisition of former competitor Valyant AI.
The acquisition will allow ConverseNow to accelerate its growth in the drive-thru space and combine the resources/operator partners of both companies to gain market share in the quick service restaurant industry. For now, both companies will operate separately and continue to serve their individual customers under their respective brands.
“Our vision is to democratize AI for brands of all sizes and make it accessible across all ordering channels,” said Vinay Shukla, co-founder and CEO of ConverseNow, in a statement. “This acquisition brings us closer to that goal. We are excited 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 prices.”
Although both companies offer similar solutions for restaurant operators – including male and female voice virtual ordering assistants on the phone or in the drive-thru lane that mimic human dialogue and demonstrate skills like upselling – Valyant AI adds some new features. For example, Valyant AI has an AI employee assistance training program that allows employees to ask the AI assistant questions during or after training and get immediate answers. The technology has already been tested with a select number of operators and will be fully rolled out by the end of this quarter.
ConverseNow, meanwhile, has already partnered with Google Bard to add generative AI capabilities to its voice assistant and improve conversations in voice-controlled drive-ins across the country.
“Joining forces with ConverseNow takes Valyant AI to an exciting new level,” said Michael Silverman, CEO of Valyant AI, in a statement. “Our shared values and complementary technologies create a powerful synergy. Our ready-to-use infrastructure and ConverseNow’s conversational and emotional intelligence give us the unmatched ability to deliver real, accurate and ethical AI solutions to our customers.”
The acquisition marks another merger in the restaurant tech sector, which has been slowly shrinking over time as companies have been acquired, merged or gone bankrupt. Although AI powerhouse ConverseNow/Valyant still faces plenty of competition as one of several independent voice AI solutions in the industry, a less crowded tech space will mean the remaining food tech companies will emerge stronger.
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