Parloa raised $66M for product development and market expansion
Parloa recently announced the successful closure of a $66 million Series B that will unlock product development innovations and drive market expansion. Parloa's AI platform empowers organizations to deliver personalized, dynamic, and human-like customer experiences while reducing wait times.
AI-powered customer service automation leader Parloa recently announced the successful closure of a $66 million Series B funding round led by Altimeter Capital and backed by new and existing investors including EQT Ventures, Newion, Senovo, Mosaic Ventures, and La Famiglia Growth. The Series B follows Parloa's 2023 $27 million extended Series A funding round and brings the company's total raised funds to $98 million. Co-founded in 2018 by Malte Kosub and Stefan Oswald, the Berlin-based company harnessed AI's power to redefine call center operations and disrupt the $500 billion call center market.
Parloa's AI platform empowers major organizations across industries like insurance, e-commerce, utilities, and travel to deliver personalized, dynamic, and human-like customer experiences - reducing wait times and automating routine employee tasks. The company has tripled its revenue growth each year for the last 3 years and successfully broke into the US market in 2023 with the opening of its New York office, where it signed several Fortune 200 within six months. The new capital will support Parloa's innovative product development initiatives and continued expansion across European and US markets. Altimeter Capital Partner Apoorv Agrawal highlighted Parloa's talented team, its focus on the most valuable areas of customer experience, and a shared vision for AI-powered customer experiences as key factors in their investment.
In parallel, Malte Kosub, Parloa's Co-Founder and CEO, shared the company's excitement about using the funding to deliver innovative improvements in the customer service experience, set new standards for customer-enterprise communication, and scale in new markets with the strategic support of Altimeter, a revered tech investor sharing Parloa's vision. Parloa is built on top of Microsoft Azure and has worked closely with the company for some time. Moreover, strategic partnerships with consulting giants like KPMG and PwC, have been essential in guaranteeing widespread adoption of Parloa’s cutting-edge solutions.
Key features in the Parloa platform include:
- Intent recognition and routing enable the rapid identification of call reasons and automatically routing customers to appropriate agents after authentication.
- 24/7 wait-free Smart FAQs handling.
- End-to-end independent AI management of tasks like address changes, banking, and order fulfillment.
- Automated conversations with personalized cross/up-selling capabilities to improve business outcomes.
These features come together to solve customer frustrations with rigid, script-based voice bots, alternatively providing personalized, dynamic, and humanlike experiences that actively reduce employee busywork and customer wait times.
