On EQT Ventures' investment in Parloa, the voice bot you want to talk to
Stefan Ostwald (co-founder), Doreen Huber (EQT Ventures), Malte Kosub (co-founder), and Tino Mittelmeier (CFO/COO).
Hold music, automated voice bots, and long waiting times — something we’ve all experienced when booking tickets or changing our mobile provider. Customer service often falls short of serving the customer.
More than $400B dollars are spent every year to operate customer contact centers around the world. Companies are struggling to find the right technology to balance efficient operations with a personalised experience.
Fortunately, tech can help and with AI this will propel to a new level. And despite their bad rep, voice bot offers a solution for businesses struggling to provide positive and efficient customer service experiences in the face of difficult labour conditions and soaring costs.
AI can play a key role in improving automated customer service, helping businesses and customers alike. It’s big business too — AI for customer communications will become one of the largest software markets in the world in the coming years.
As Delivery Hero’s COO back in 2011, when we were scaling rapidly and had to build contact centers for several languages at record speed to make our customers happy, I experienced firsthand how business-critical and also cost-intensive this department is.
In our early days, sometimes the whole management team had to support customer care due to unexpectedly high volumes, website bugs, or payment errors.
The goal is to make your customers happy, to have a high NPS to ensure re-orders and at the same time keep the costs under control. And customer care is a very visible number on your P&L.
That’s why when I came across Malte Kosub and Stefan Ostwald, co-founders of Parloa, I knew I had to be a part of their journey of forging a revolution in the contact center industry.
Parloa is a leading AI company focused on automating customer service with game-changing, intuitive conversations that reduce frustration and increase efficiency.
Its Contact Center AI platform empowers companies to scale high-quality customer service operations, as it allows for thousands of customer dialogues to happen at the same time. Parloa’s combination of AI components, including GPT in Azure Open AI, has given it the capacity to communicate in a language that sounds natural, rather than scripted and to easily customize.
Parloa decreases costs for businesses, allows employees to focus on more complex, high-value interactions, and results in better quality customer experiences through personalised interactions. Ultimately removing the frustrations of customers while allowing businesses to capture all the benefits that AI has to offer.
As we are now leading the investment round, we at EQT Ventures are so excited by Parloa’s team and are convinced its unique technology will make a significant contribution to improving customer service.
I look forward to supporting Malte, Stefan, and the whole team at Parloa as they grow, innovate, and make our day-to-day interactions with customer service much better!
