Parloa, an AI platform for customer service, secures $66 million in funding

Parloa, a conversational AI platform, has just secured a whopping $66 million in a Series B round of funding, marking a significant milestone for the German startup. This comes just a year after Parloa raised $21 million from European investors to fuel its international expansion.

With a strong focus on the U.S. market, Parloa opened an office in New York last year, which helped it onboard several Fortune 200 companies in the region. The latest funding round was led by Altimeter Capital, a prominent U.S.-based VC firm known for its investments in tech giants like Uber, Airbnb, and Twilio.

The rise of AI and automation in customer service has been a hot topic in the tech industry, with investors showing keen interest in companies that offer smart conversational AI solutions. Parloa’s unique selling point lies in its emphasis on voice interactions, which CEO Malte Kosub believes sets them apart from the competition.

Co-founder and CTO Stefan Ostwald highlighted Parloa’s deep-rooted expertise in AI, emphasizing their use of proprietary and open source large language models for speech-to-text applications. The company’s success in the U.S. market has been nothing short of remarkable, with revenue tripling each year for the past three years.

The Series B funding round, which included investments from EQT Ventures, Newion, and Mosaic Ventures, brings Parloa’s total capital raised to $98 million. With a strong financial backing and a solid track record of growth, Parloa is well-positioned to further expand its presence in both Europe and the U.S. as it continues to revolutionize the customer service industry with its innovative AI solutions.