Parloa, a Berlin, Germany-based conversational AI platform for automating omni-channel customer service, announced that it raised €20 million in Series A funding to propel the international expansion of its game-changing AI-based customer service.
The round was led by EQT Ventures, with participation from existing investors Newion and Senovo. This investment will accelerate the company’s expanding international footprint.
Other investors in the round included founders from numerous German unicorns, such as Erik Muttersbach and Michael Wax (Forto), Hanno Renner (Personio), and Nicolas Peters (Signavio), German contact center entrepreneur Jens Bormann (Muuuh! Group), as well as soccer professional and business angel Mario Götze.
“Our platform is already demonstrating the tremendous value AI tools bring to customer service—in very simple, groundbreaking ways,” said Malte Kosub, CEO of Parloa, who founded the German company in 2018 with Stefan Ostwald. “This represents a huge opportunity for companies, their employees, and their customers—and shows the immediate applicability and value of AI. Customer contact is a multi-billion dollar global market—and one of the first to be disrupted by AI,” said Kosub. “We have found an experienced international investor in EQT Ventures, who are actively supporting our further development and global expansion.”
Parloa’s natural-sounding, always-accessible AI speech application ups the ante on automated spoken customer communication. The company combines a multitude of AI components, including its own AI modules as well as large language models like the generative pre-trained transformer (GPT) via the Azure OpenAI Service.
Current customers include insurance companies ERGO, Helvetia, Swiss Life, and AdmiralDirekt; retail companies Decathlon, HSE, and Thalia; Teamviewer; and the German Red Cross.
Company: Parloa GmbH
Raised: €20.0M
Round: Series A
Funding Month: March 2023
Lead Investors: EQT Ventures
Additional Investors: Newion and Senovo, Erik Muttersbach, Michael Wax, Hanno Renner, Nicolas Peters, Jens Bormann, and Mario Götze
Company Website: https://www.parloa.com/
Software Category: Conversational AI Platform
About the Company: Founded in 2018 by Malte Kosub and Stefan Ostwald, Parloa is an AI company that focuses on automating customer service with game-changing, intuitive conversations that reduce frustration and increase high-volume efficiency. Parloa’s Contact Center AI platform uses state-of-the-art technology to extend natural-sounding customer conversations across all relevant service channels, decreasing time-to-resolution and resulting in better quality customer and employee experiences. Based in Berlin, the company now employs more than 100 people.
Source: https://www.parloa.com/parloa-raises-20-million-series-a/