Venture Capital Access Online | The eMarketplace for the Venture Capital Industry

 

Home

Marketplace
Database
News
Store
Resources
Contact Us

 

 

News


VENTURE CAPITAL DIRECTORY | PRIVATE EQUITY DIRECTORY

List of Venture Capital / Private Equity Firms and Sources
Published since 1998, VCPro Database is the most reliable, up-to-date and affordable venture capital directory

2021 EDITION SPECIAL OFFER
Buy Now for only $119.95 plus a FREE 2022 update in January 2022

Learn More or Buy Now

VCPro Database 2021 24th Edition -- a downloadable and searchable venture capital database with 6,500+ venture capital and private equity firms worldwide. The most reliable, up-to-date and affordable venture capital directory of its kind. VCPro Database is available in both Windows and macOS versions. It has been published since 1998. (Updated JULY 2021)

Learn More or Buy Now




Balto Raises $37.5M; Pushes to Close Execution Gap for Contact Centers

ST. LOUIS, August 19, 2021-- Balto, the #1 Real-Time Guidance Platform for contact centers, has announced the completion of a $37.5 million Series B funding round. The funding is led by Stripes and joined by RingCentral Ventures.

Existing investors that participated include Sierra Ventures, TIA Ventures, OCA Ventures, Stage Venture Partners, SaaS Venture Capital, Sandalphon Capital, Cultivation Capital, and Atreides Management. Riadh Dridi, Stripes Operating Partner and CMO at Automation Anywhere, joins Balto's board.

The funding comes on the heels of Balto's two latest product releases and as Balto's Real-Time Platform surpasses 75 million guided calls and 160 million Real-Time Recommendations. It brings Balto's total funding to $52 million.

"Balto is creating a mindset shift that is something you only see with category-defining products," said CEO Marc Bernstein. "We're moving contact centers from conversation intelligence, which is a great starting point, to conversation excellence. That's what we're all shooting for."

From "What's the Best Thing to Say?" to "Scale the Best Things to Say"

In the past, contact centers have had to deal with an execution gap between knowing what's going wrong on calls and actually fixing it. Most solutions danced around this issue without ever solving it: Speech analytics, more coaching, staffing up QA, sticky notes, or whisper mode. These solutions could only tell you what was wrong on calls, or offer solutions after the call was already long gone.

With this round of funding, Balto is doubling down on closing the execution gap by providing contact centers with a way to improve conversations as they're happening. Specifically, Balto is planning to make leaps in closed-loop reporting, allowing organizations to not only tie agent behavior to call outcomes but also scale top-performing behavior to the entire organization.

"Balto is the only company on earth that offers a closed loop of sourcing the best thing to say on a call and recommending that to a massive amount of people at scale in real time, all while giving insight - in real-time - into what exactly is working and what is not," said Bernstein. "In the next year, we're going to be looking at two things: improving Balto's ability to surface insights so users can implement changes at the push of a button, and improving our fully automated loop."

"For decades, organizations have struggled to utilize customer insights in order to make customer facing agents more effective. Balto's Real-Time Guidance solves this problem elegantly by empowering organizations to turn these insights into real-time actions," said Riadh Dridi, Operating Partner at Stripes. "The addressable market for Balto is massive and I'm thrilled to be joining their board of directors as the company enters its next stage of hypergrowth."

Since its launch in 2017, Balto has provided over 160 million Real-Time Recommendations across dozens of enterprise customers, including AmTrust Financial, Katapult, Advantage Communications, and National General Insurance. Teams using Balto have seen statistically significant results, including 26% increases in conversion rates, 25% increases in CSAT scores, and 75% faster ramp times for new agents.

"I'm excited to take Real-Time from where we started it, where organizations accept it as a benefit to their teams, to organizations accepting it as the new standard for contact centers," said Bernstein.

About Balto

Balto is the #1 Real-Time Guidance Platform for contact centers. Balto is centered around a simple truth: Better conversations make more money. Powered by AI, Balto scales best practices to agents with the push of a button and gives immediate insight into what's working and what's not. Founded in 2017 and based in St. Louis, Missouri, Balto has guided over 75 million conversations around the world.

About Stripes

Stripes is a leading growth equity firm that partners with founders who are building the best products in the software and consumer markets. Stripes' software practice invests in leading horizontal and vertical software platforms servicing customers from SMB to Enterprise around the world. Stripes strives to serve its partners by delivering valuable resources to create transformative companies. For more information please visit Stripes.


News Index

Venture Capital Database 

 

 NEWS

Latest VC News
VC News Archive
News Search
RSS News Feed

List Your Firm

Entrepreneurs
Investors
Advisors

Venture Capital Database

VCPro Database
Download Trial
Buy Now

Business Plan Tools

Free Business Plan Template

 

Copyright 1998-2021 Access InterComm  All rights reserved. 
Site Map | Privacy Statement | Legal Notice & Disclaimer