- Slovakian startup CloudTalk raises $28 million Series B round.
- The latest round is co-led by KPN Ventures and Lead Ventures and supported by existing investors Point Nine Capital, henQ, Presto Ventures, and Orbit Capital.
- CloudTalk was founded in 2016 to help businesses connect with customers over the phone and make customer experience a great competitive advantage for driving more revenues.
“It’s been fun to see how our product solves challenges for over 4,000 sales and customer-facing teams across 100+ countries, powering more than 400 million customer conversations. That translates into an unbelievable 665 years of calling,” said Martin Malych, CEO of CloudTalk.
The new investment will strategically accelerate CloudTalk’s growth and product innovation, mainly in enhancing its AI-powered cloud phone system and contact center solutions. This funding comes at a crucial time when sales and customer service teams worldwide are aiming at improving performance and efficiency during major economic changes.
“Users want a phone solution that helps with basic things like boosting call quality, increasing pickup rates, and improving CRM hygiene. But they also want the phone solution to be smart. For example, to summarize calls with artificial intelligence, automate note-taking, and monitor customer opinion via sentiment analysis. That’s why our focus is now intensely on AI, maximizing team efficiency, optimizing conversations, and driving revenue growth for our clients,” Malych added.
Advancing AI-driven communication solutions
CloudTalk will now aim to advance its AI-driven communication solutions, ensuring smooth integration with modern business tools and providing seamless interactions for users worldwide.
“With up to 60% of all work done by support and sales teams being administrative, CloudTalk gives agents more time to work on complex issues and provides managers with the tools they need to optimize resource allocation. Also, thanks to AI, humans can do more personalization which results in up to 20% higher customer satisfaction, sales conversion, and employee engagement. There are challenges on the horizon though, such as data security, a huge topic when it comes to AI and LLMs. Another topic or long-term challenge is the quality of AI for various languages. We know it works well for English, Spanish, German, and some other highly used languages, however, the results for lesser-used languages like Greek can be confusing. There’s still a long road ahead of us,” CloudTalk’s chief marketing officer David Cacik tells IT Logs.
Thus, CloudTalk’s vision is to create a unified ecosystem for sales and customer service teams’ communication where every professional can engage in more productive and meaningful conversations.
Dealing with challenges through innovation
For Presto Ventures, one of the company’s earliest backers, it’s impressive to see how far CloudTalk has come since its beginnings.
“I think back to 2018 when we were closing the CloudTalk investment. It was one of Presto’s very first and at the time, CloudTalk was a budding startup with a few clients and a minimalist product. It’s amazing to witness how far the company has come and the challenges its team has had to grapple with over that time. The current investment round marks another milestone in CloudTalk’s journey of becoming a market leader in customer voice communication tools. We’re proud to have been with them from the beginning and look forward to supporting their journey going forward,” says Premysl Rubes, founding partner of Presto Ventures.
KPN Ventures, a major telecom operator in the Netherlands and lead investor in this round, fully supports CloudTalk’s mission.
“We are impressed with CloudTalk’s intuitive AI solutions and its ability to meet the dynamic needs of modern businesses. Their commitment to excellence and innovation perfectly aligns with our vision,” commented Sem Alberga, Investment Director at KPN Ventures.
“This investment is a leap towards our ‘moonshot’ goals. Not just in terms of financial growth, but in fundamentally transforming how businesses communicate. A big thanks to everyone who helped us on our journey – our customers, as well as our 140+ person team of CloudTalkers. I feel extremely lucky to have such incredible professionals around me. I am excited to continue working with all of them towards driving more meaningful conversations that bring revenue and satisfaction,” Malych concludes.