Invoca, a conversation intelligence company powered by artificial intelligence, closed $83 million in Series F financing on Tuesday, giving it a $1.1 billion valuation.

The financing round was led by Silver Lake Waterman, a global technology investment firm. It brings the total of equity financing to $184 million.

The round goes against today’s tech valuation trend and validates the strong long-term fundamentals that the company should surpass $100 million in run-rate revenue this year.

“One thing we heard in discussions with investors, when looking at the public markets, people are being a little bit more conservative,” said Gregg Johnson, Invoca CEO. “I expect to see rounds on the smaller end as we go through the summer, so between $75 million and $100 million down the middle for a company like ours.”

Investors focused more on discipline than in the past, as well as what could surface as a macroeconomic challenge like “what is your European exposure given the war in Ukraine,” he said.

The company, founded in 2008 and mostly supports companies in the United States, but plans to expand further in the United Kingdom this year. It originally was created for phone call analytics and attribution, but the COVID-19 pandemic exposed fundamental weaknesses in the contact center and elevated the need for a personalized phone call experience.

The $83 million will go toward deepening a focus in the contact center to help brands find the data to better support their customers.

When asked to cite the biggest challenge for the year, Johnson pointed to “adjusting the business and finding the correct path forward” in the midst of layoffs and pull back in advertising. Coinbase, for example, this morning laid off 18% of its workforce. Coinbase CEO Brian Armstrong wrote in an open letter today that the “difficult decision” to lay off about 1,000 employees was made to ensure “we stay healthy during this economic downturn.”

“We exceeded our Q1 targets quite significantly, and signed the biggest new customer contract in the history of the company in early Q2, so we continue to see very positive signs in the business,” Johnson said. “But you’re always calibrating growth expectations based on what’s happening around you.”

Invoca, a conversation intelligence company powered by AI, closed $ 83 million in Series F financing on Tuesday, giving it a $ 1.1 billion valuation.