Slang.ai, a New York-based AI-powered phone answering product, has emerged from stealth mode and raised $20 million in a Series A funding round led by Homebrew, with participation from Stage 2 Capital, Wing VC, Underscore VC, Active Capital, and Collide Capital.
Notable angel investors, including celebrity chef Tom Colicchio and Scott Belsky, Founder of Behance, also joined the round. Existing investors include executives from prominent technology companies like Snap and Zoom.
The recently raised funds will be used to enhance Slang's generative AI capabilities, forge product partnerships and integrations in industries like hospitality, retail, and e-commerce, and bolster the growth of the go-to-market team.
"With the emergence of generative AI, businesses are searching for real-world applications for this powerful technology. For decades, customers have experienced the frustrating process of calling a business and being put on hold in order to make a new appointment or say they're running late for a reservation. Now, there is a better way. We're excited to help businesses use this technology to dramatically improve the phone experience, helping them serve their customers better than they ever thought possible," shared Slang.ai CEO and Co-Founder, Alex Sambvani.
The company leverages AI technology to improve the phone calling experience, particularly for restaurants and retail businesses. The platform offers AI-powered phone agents tailored for restaurants and retail businesses, employing natural language processing technology to automate reservations, orders, and common queries.
With a simple 30-minute onboarding process, it has already gained over 200 customers, including Slutty Vegan, Palm House Hospitality Group, STUDS, PLANTA, Hammitt, and Nikki Beach Miami.
Round: Series A
Funding Month: June 2023
Lead Investors: Homebrew
Additional Investors: Stage 2 Capital, Wing VC, Underscore VC, Active Capital, Collide Capital, Tom Colicchio, and Scott Belsky
Company Website: https://www.slang.ai/
Software Category: AI-powered Phone Answering Software
About the Company: Slang.ai is an AI-powered phone answering software designed to free up staff and help businesses avoid missed calls. With a mission to transform the phone into a channel that is personalized, efficient, and delightful, Slang helps restaurants, retailers, and other business operators use AI to answer phone calls more effectively than they ever thought possible. For businesses that typically struggle with staffing levels, Slang acts like a reliable team member that gives real-time responses and helps drive more revenue, minimize staff distraction, and improve customer satisfaction. Slang.ai's advanced technology utilizes an extensive proprietary database of conversation data to ensure responses are accurate. Slang can be customized to mirror the personality of the business and is always ready to answer calls promptly and in a personalized manner.