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Why the Dubber (ASX:DUB) share price rocketed 16% today

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The Dubber Corp Ltd (ASX: DUB) share price shot up by 16% today as investors fought to get a parcel of its shares.

Shares in the cloud-based software-as-a-service (SaaS) company closed out the day at $1.45. Let’s take a look at what was driving the gains in the Dubber share price today.

What does Dubber do?

Dubber is a cloud call recording and data capture company that provides unified communication products to its clients. The company’s technology enables voice calls to be analysed and turned into data for process improvement.

New product launch

Dubber unveiled today the global launch of its unified recording and voice artificial intelligence solution for Microsoft Corporation (NASDAQ: MSFT)’s Microsoft Teams.

This marks the first-of-its-kind capability for Microsoft. The technology automatically records voice and video of every conversation and converts it into rich voice data. The captured information is then transformed for compliance and performance improvement.

The global channel program is expected to eliminate the cost, complexity and risk of traditional recording. In turn this allows the user to unlock benefits of voice data at scale.

Dubber advised the extensive launch for its Microsoft partners will include support, deployment, and training resources.

Management commentary

Commenting on the market gap, Dubber CEO Mr Steve McGovern said:

COVID has dramatically accelerated the demand globally for unified communications solutions. As workforces have dispersed and network end-points multiplied the demand for automated call recording at scale has become essential to addressing regulatory requirements and enterprise-wide visibility. With Dubber supporting Microsoft Teams via our global platform, users can activate recording immediately in the cloud – eliminating the need to build solutions or buy hardware.

He added:

Our integration with Microsoft Teams advances Dubber as the preeminent and de facto cloud-based unified call recording solution for communications providers – and as a source of differentiation and value for resellers globally.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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