At a Glance
Balto has raised $37.5M in Series B to close the execution gaps in contact centers by offering them more insights to improve their conversations
Balto, a provider of real-time guidance platform for contact centers, has raised $37.5 million in a Series B funding round led by Stripes and RingCentral Ventures to close execution gaps for contact centers, a press release from the company said.
With the close of this funding round, the total funding raised by Balto touches $52 million. Existing investors – Sierra Ventures, TIA Ventures, OCA Ventures, Stage Venture Partners, SaaS Venture Capital, Sandalphon Capital, Cultivation Capital and Atreides Management – participated in the funding round.
Balto, founded in 2017, provides an AI-powered conversational platform that scales best practices for agents and offers insights into what works best. The company stated that the funding came on the heels of its latest product releases alongside its platform, surpassing 75 million guided calls and 185 million real-time recommendations.
“Balto is creating a mindset shift that is something you only see with category-defining products. We’re moving contact centers from conversation intelligence, which is a great starting point, to conversation excellence. That’s what we’re all shooting for,”Marc Bernstein, founder and CEO of Balto.
Balto stated that it would use the proceeds from the funding to double down on closing the execution gap in contact centers by offering them insights on best practices to improve their conversations. It also looks to make leaps into closed-loop reporting that allows organizations to tie agent behavior to call outcomes.
Riadh Dridi, operating partner at Stripes, stated that organizations have struggled for decades to utilize customer insights to make customer-facing agents more effective.
“Balto’s Real-Time Guidance solves this problem elegantly by empowering organizations to turn these insights into real-time actions. The addressable market for Balto is massive and I’m thrilled to be joining their board of directors as the company enters its next stage of hyper-growth.”Riadh Dridi