Real-time Guidance Startup Balto Raises $ 37.5 Million in Series B Funding
Balto, a St. Louis-based real-time referral startup, has secured $ 37.5 Series B funding to expand its presence in the contact center industry.
The funding round was led by Stripes and counted with the participation of RingCentral Ventures, Sierra Ventures, TIA Ventures, OCA Ventures, Stage Venture Partners, SaaS Venture Capital, Sandalphon Capital, Cultivation Capital and Atreides Management. Stripes’ operational partner Riadh Dridi, who will join Balto’s board, referred to the cycle, saying:
“For decades, organizations have struggled to use customer information to make direct customer agents more efficient. Balto’s Real-Time Guide elegantly solves this problem by empowering organizations to turn that information into real-time action. Balto’s addressable market is huge and I am delighted to join their board of directors as the company enters its next hypergrowth stage.
Balto seeks to provide contact centers with a way to improve real-time communication, especially when it comes to closed-loop reporting to identify and escalate top performing behaviors. This approach allowed the start of real-time guidance to exceed 75 million guided calls with over 160 million real-time recommendations. CEO Marc Bernstein referred to Balto’s vision, saying:
“Balto creates a shift in mindset that you only see with category definition products. We’re moving contact centers from conversational intelligence, which is a great starting point, to conversational excellence. This is what we are all aiming for. Balto is the only company in the world that offers a closed loop for finding the best thing to say on a call and recommending it to large numbers of people at scale in real time while giving insight – in real time – to what exactly works and what doesn’t.
Over the next year, the real-time guidance startup will focus on improving the platform’s ability to deliver information to users as well as the technology behind its fully automated loop, consolidating itself as a major contributor. to the contact center industry.