Enterprise AI CRM Startup Glia Raises $45M Reaching $1B Valuation
Customer relations managment AI startup Glia has closed a $45 million Series D funding round led by Insight Partners. The new money raises the company’s valuation past $1 billion as it develops conversational AI for direct customer service and as an aid to human agents.
Glia’s customer platform operates across text, voice, and video platforms. That includes chatbots and voice AI, but Glia is best known for connecting customer service agents with a kind of advisor AI to guide them in interactions with customers. The goal is a best of both worlds approach with human adaptability and social skills boosted by AI memory and algorithmic thinking. The company started working with the finance industry but has since diversified into other verticals. The company has now raised more than $150 million, and the latest round is earmarked for creating better AI tools to help customer service agents. More than 250 finance institutes utilize Gila, and the AI has helped with more than 10 billion interactions, according to the startup. That data gets reused for machine learning algorithm training to continually improve the AI’s interactions and advice. The money will also aid Glia in reaching more multinational customers.
“The future of customer service is digital, and those that have yet to take steps to modernize their support and engagement strategies are already behind,” Glia CEO Dan Michaeli said in a statement. “We’re thrilled by our investors’ confidence reflected in the round’s valuation, recognizing that we’ve only scratched the surface of what Glia can accomplish.”
The COVID-19 pandemic accelerated the push for integrating AI into customer service and support. That’s led to a lot of funding rounds, large and small, for companies able to offer such support. Despite helping it reach unicorn status, Glia’s raise is still smaller than Shelf.io’s $52.5 million, and nowhere near the truly enormous stage represented recently by Dialpad’s $170 million, Yellow.ai’s $78.15 million, or Uniphore’s $400 million last month. The money is helping those companies diversify as Glia plans. The $70 million raised by Kore.ai led to a recent expansion into healthcare AI, for instance.
“Our rapid growth and successful relationships with financial services companies of all types demonstrates the urgent need for Digital Customer Service,” Michaeli said. As we build upon a decade of innovation, this capital will further extend our reach and help even more businesses across the globe reimagine how they connect with customers digitally.”