[PR] Parloa raises 4M EUR to bring an end to the customer service madness

Mona Gindler
senovoVC
Published in
4 min readMay 12, 2022

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Berlin, May 12th 2022 — Parloa, a leading SaaS platform for Conversational AI, today announced that it raised 4M Euros. Newion, Senovo, Michael Wax and Erik Muttersbach (co-founders Forto), Nicolas Peters (co-founder Signavio), and other renowned business angels as well as other founders of unicorn companies invested in this seed round.

The company enables businesses to easily integrate Parloa’s market-leading AI technology into their customer service to create unique consumer experiences at all relevant customer service touchpoints, while simultaneously saving companies a significant amount of time and money. With the funding, Parloa will be able to scale its operations, enlarge its international footprint and fulfill the existing demand and help companies worldwide to make their call centers more cost-efficient while enabling them to increase customer loyalty.

Parloa Co-Founders Malte and Stefan

Malte Kosub, co-founder and CEO at Parloa said: “We are on a mission to change the way businesses communicate with their customers and put an end to the call center madness. For too long customers were forced to press numbers in a so-called touch-tone menu and confronted with long waiting times, while agents were obliged to spend 30–40% of their time doing repetitive tasks like authentications or routings. This lack of efficiency in many call centers not only results in frustrating customer experiences and unhappy agents, harming a company’s reputation significantly, but also leads to very high costs for businesses. With Parloa, we provide a unique AI solution for companies to make their customer service smarter and more cost-efficient leading to happier and more loyal customers.”

Stefan Ostwald, co-founder and CTO & CPO at Parloa adds: “We initially started as an agency for AI and built Parloa’s technology out of our own cashflow and profits. After having received huge demand for our software, we decided to make a spin-off and turned Parloa into a SaaS platform and successfully bootstrapped the company over the course of the past years into a multi-million business. We are all very proud to welcome such renowned investors and business angels who support us in our ambition to make customer communication smarter, more efficient and more fun.”

This is how Parloa works

Parloa’s software combines automated speech recognition and natural language understanding to enable companies to build automated dialogs for phone, chat, voice assistants & messenger — all in one place. Today, Parloa’s AI is able to understand the same amount of words and contexts as a call center agent and allows companies to train the technology on the company’s specific vocabulary, so the solution becomes better, smarter and more efficient every single day. Parloa 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. Companies such as Ergo, SwissLife, Decathlon, Admiral Direkt, HSE or the German Red Cross already trust Parloa for automating calls and thereby optimizing customer communication in their contact centers, saving them on average one minute per customer request.

About Parloa

Parloa is a leading Conversational AI platform for automating omni-channel customer service. The Berlin-based company that currently employs more than 40 people, was founded in 2017 by Malte Kosub and Stefan Ostwald with the goal to reimagine the future of customer communication. Parloa is backed by Senovo, Newion and renowned business angels, and is one of the close international partners of Microsoft’s Digital Contact Vision. Further information can be found at: www.parloa.com

About Newion

Newion is an Amsterdam-based venture capital firm, focused on early-stage investments in European B2B software companies. Newion III is supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI), set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to finance. Further information can be found at: www.newion.com

About Senovo
Senovo is an early-stage venture capital firm based in Munich and Berlin that partners with exceptional founders building global B2B SaaS category-leaders from Europe.

As European first-mover, the fund invests since 2013 into a new generation of B2B software startups which enable the digitalization of medium and large enterprises. Their focus is primarily on supporting teams working in the areas of process optimization, industry 4.0 and data-enabled solutions. Senovo joins the journey after a company has first revenues in a late Seed or Series A round. Their team of SaaS specialists seek meaningful eye-level relationships and regularly publish their learnings and thought leadership at www.medium.com/senovovc.
Further information can be found at: www.senovo.vc

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