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German AI Customer Support Provider Parloa Announces Funding Round

By Tracey E. Schelmetic April 30, 2024

Call center work often covers a very broad range of duties. Agents are tasked with pleasing customers and personalizing the support experience, but at the same time they must engage in a great deal of “busy work” to properly conclude customer interactions and in-office assignments. In recent years, AI is increasingly being built into contact center solutions in ways that allow agents to focus more on customer-pleasing – and revenue-generating – activities. Given the size and value of the contact center industry, investors have been eager to advance more AI-driven solutions.

AI-powered automation and customer support solutions provider Parloa has announced that it has raised $66 million in Series B funding led by Altimeter Capital, with participation from new and existing investors EQT Ventures, Newion, Senovo, Mosaic Ventures and La Famiglia Growth. The new funding brings Parloa’s total capital raised to-date to $98 million, following its $21 million Series A funding round led by EQT Ventures and extended in a second closing to bring Series A to a total amount of $27 million in 2023.

Berlin, Germany-based Parloa was founded to harness the power of AI to revolutionize the way contact centers operate. The company’s platform enables organizations to use their contact centers to deliver more personalized, dynamic and humanlike experiences to customers while reducing wait times and automating basic work tasks for their employees. Parloa, which has reported three times revenue growth in each of the last three years, entered the U.S. market in 2023 with the opening of an office in New York.

Parloa works closely with Microsoft and has been using Microsoft Azure for its solutions for several years. In addition, Parloa has established strategic partnerships with leading global consulting firms, including KPMG and PwC. These partnerships are instrumental in assisting enterprises with AI transformation and the implementation of Parloa’s cutting-edge solutions, said the company.

“We see tremendous potential in Parloa and share its vision of AI-powered customer experiences,” said Apoorv Agrawal, partner at Altimeter Capital. “We have been studying the space deeply and we believe that Parloa stands out as a leader given their incredibly talented team and their deep focus on the most valuable parts of the customer experience stack. Not only have they earned the trust of some of the world’s largest enterprises, but they have gotten here in a capital efficient manner. We look forward to partnering with Parloa to scale their impact globally.”

Edited by Alex Passett
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