Company outlines vision for building long-term shareholder growth
BOCA RATON, Fla., April 17, 2024 (GLOBE NEWSWIRE) -- Vocodia Holdings Corp (CBOE: VHAI) ("Vocodia" or the "Company"), a leader in AI software development focusing on practical AI applications, today provided an update on the Company's progress since becoming public, highlighting recent achievements and outlining future growth strategies.
Brian Podolak, CEO of Vocodia, expressed optimism about the Company’s trajectory, stating, “Vocodia is entering a transformative period marked by key strategic partnerships and significant technological breakthroughs. Our next-generation conversational AI technology is redefining standards for customer interaction through efficiency and personalization, opening substantial revenue opportunities for our clients in major industries worldwide.”
Operational Milestones:
In February, Vocodia announced the installation of its AI service platform at dealerships of a top 3 global automobile reseller, with more installations expected in the first year. This program, based on a fixed price per location pricing model, is anticipated to enhance Vocodia's revenue and profitability. Additional pilot programs with other auto resellers are also in progress.
Vocodia recently launched a pilot program with a major utility provider, utilizing its AI technology to streamline the process of switching energy providers. This initiative is designed to improve operational efficiency and reduce costs. The pilot targets an energy provider with over 1 million customer connections.
Strategic Growth Initiatives:
Vocodia is advancing its AI technology platform through upgrades to its proprietary switch. This will increase the speed and reliability of AI-to-customer connections, reduce reliance on external telecom infrastructure, and lower operational risks, facilitating rapid scaling across various industries. The Company is committed to continuous innovation and improvement of its technology to maintain leadership in service delivery and operational efficiency.
Financial Highlights:
Vocodia completed its underwritten initial public offering (IPO), raising $5.95 million. The IPO comprised 1,400,000 units, including common stock, Series A Warrants, and Series B Warrants. Additionally, the Company granted underwriters an option to purchase extra shares. Each unit was offered at $4.2500, generating gross proceeds of $5,558,764.75. This successful initiative has strengthened the Company's financial foundation and broadened its support base.
CEO Brian Podolak, along with significant contributions from co-founder and CTO James Sposato and CFO Scott Silverman, invested $400,000 in the Company's IPO. This investment underscores the leadership team's belief in Vocodia's strategic direction and alignment with shareholder interests.
Podolak further noted, “These insider investments reflect our management team’s belief in Vocodia’s mission, demonstrating our commitment to driving success and fostering closer alignment with our shareholders. The enhancements to our proprietary switch, improving the speed and reliability of AI-to-customer connections, reinforces our dedication to delivering value to our enterprise clients. Additionally, the launch of our pilot programs opens massive growth opportunities in two of Vocodia's major target markets, laying the groundwork for further expansion into promising sectors already in our sales pipeline.” He added, “We are thrilled by our initial progress and, looking forward, we are confident in our ability to redefine the benchmark in conversational AI call center technology.”
Vocodia's AI platform, capable of managing 20,000 simultaneous calls, employs multiple Digital Intelligent Sales Agents (DISAs) to facilitate human-like conversations between machines and humans in over 50 languages. Vocodia's scalable and efficient technology is poised to significantly enhance customer satisfaction and drive sales growth for the call center industry.
About Vocodia Holdings Corp Vocodia is an AI software company that builds practical AI functions and makes them easily obtainable for businesses on cloud-based platform solutions at low costs and scalable to multiagent vast enterprise solutions. Vocodia is a conversational AI software developer and provider that offers scalable enterprise-level AI sales and customer service solutions which allow for AI sales representatives to reduce human labor costs and responsibilities while increasing the reach and efficacy of human-led, purposeful, agenda driven and conversational communications. The Company delivers its patent-pending conversational AI software in the form of Digital Intelligent Sales Agents (the "DISAs"), which are built with AI software programmed to sound and feel human and to perform business tasks that require humans to converse with one another effectively, and thus to provide the best representation for each of its customers' businesses. For more information, please visit: vocodia.com
Forward-Looking Statements This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "believe," "project," "estimate," "expect," strategy," "future," "likely," "may,", "should," "will" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the risks and uncertainties more fully in the section captioned "Risk Factors" in the Company's Registration Statement on Form S-1 related to the public offering (SEC File No. File No. 333-269489) and other reports we file with the SEC. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, our actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Forward-looking statements contained in this announcement are made as of this date, and undertake no duty to update such information except as required under applicable law.
