Berlin-based Parloa has raised €20 million in a Series A funding round. The platform uses conversational AI to automate customer service, e.g in phone bots or chatbots. Including a seed round announced in May of 2022, Parloa has raised €24 million to date.
The Series A round was led by EQT Ventures and saw the participation of a number of existing investors including 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 angel investor Mario Götze.
Looking to cash in on a $400 billion customer service market, Parloa’s platform combines automated speech recognition and natural language understanding to enable companies to build automated dialogues for phone, chat, voice assistants and messenger – all in one place.
The company claims its AI setup understands the same amount of words and contexts as a call centre agent. It follows a low code and API-first approach and hence can be seamlessly integrated into any tech stack and used and trained by any employee - even without any technical background.
The company counts insurance companies ERGO, Helvetia, Swiss Life, and AdmiralDirekt; retail companies Decathlon, HSE, and Thalia; Teamviewer; and the German Red Cross amongst its client base.
"Our platform is already demonstrating the tremendous value AI tools bring to customer service in very simple, groundbreaking ways,” said Parloa CEO and co-founder Malte Kosub. “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/ We have found an experienced international investor in EQT Ventures, who are actively supporting our further development and global expansion.”