Making customer communication smarter, Berlin-based conversational AI platform wins 4 million euros
For too long, customer service numbers have been anything but obsolete. Users are forced to call numbers in a so-called touch menu and face long wait times, while agents are forced to spend 30-40% of their time performing repetitive tasks like authentications or routings .
Aiming to end the call center craze and change the way companies communicate with their customers, the Berlin-based SaaS platform for conversational AI, Parloa raised 4 million euros in funding.
The round saw participation from venture capitalists such as the Amsterdam-based firm newionbased in Munich Senovo and angel investors, including Michael Wax and Erik Muttersbach (co-founders of Forto), Nicholas Peters (co-founder Signavio). The new cash will allow the startup to expand its operations, expand its international presence, and help companies around the world make their call centers more profitable while enabling them to retain customers.
The company enables businesses to easily integrate AI technology into their customer service for unique customer experiences across all relevant customer service touchpoints.
Malta Kosub, co-founder and CEO, Parloa said, “The lack of efficiency in many call centers not only leads to frustrating customer experiences and unhappy agents, significantly damaging a company’s reputation, but also leads to very high costs for companies. With Parloa, we provide a unique AI solution for businesses to make their customer service smarter and more profitable, resulting in happier and more loyal customers.
Stefan Ostwald, co-founder, CTO and CPO, Parloa added, “We first started as an agency for AI and built Parloa’s technology from our own cash flow and profits. After receiving huge demand for our software, we decided to create a spin-off and turn Parloa into a SaaS platform and successfully start the business over the past few years into a multi-million business.
The platform combines automated speech recognition and natural language understanding to enable businesses to create automated dialogues for phone, chat, voice assistants and messaging, all in one place. The company says its AI setup includes the same amount of words and contexts as a call center agent. It follows a low-code and API-first approach and can therefore be integrated seamlessly into any technology stack and used and trained by any employee, even without any technical training. The startup already works with companies like Ergo, SwissLife, Decathlon, Admiral Direkt, HSE and the German Red Cross.