Bratislava-based CloudTalk, which makes AI-powered software for call centres, has raised a €26m Series B (€20m in equity and €6m in debt) co-led by Dutch CVC KPN Ventures and Budapest-based Lead Ventures. Existing investors Point Nine Capital, henQ, Presto Ventures and Orbit Capital have also reinvested.
This is one of the biggest VC rounds in the history of Slovakia’s startup ecosystem, according to Dealroom.
What does CloudTalk do?
Founded in 2016, CloudTalk is a cloud-based platform that helps teams that speak a lot on the phone — call centre, marketing, sales and customer service teams — to connect with clients and make their calls more efficient.
“Users want a phone solution that helps with basic things like boosting call quality, increasing pickup rates and improving CRM hygiene,” says the company’s cofounder and CEO Martin Malych. “But they also want the phone solution to be smart; to summarise calls with artificial intelligence, automate note-taking and monitor customer opinion via sentiment analysis.”
CloudTalk’s solution is used by more than 4,000 companies worldwide. Most are SMEs, but it also has bigger clients like Glovo, Tier, DHL and Nokia.
The startup currently employs 144 people across offices in Bratislava and Prague, although more than half of them work remotely.
It has recently focused on AI solutions — such as AI-powered diallers, conversational intelligence and speech recognition — and, as Malych says, this has helped them to secure the Series B. “We were already an attractive company for investors because we can be very capital efficient. AI is helping us to streamline these processes even more in this regard,” he says. “We’ve implemented AI wherever it was possible — into our internal processes but especially into our product itself, where we see AI as a clear direction for the future.”