Cresta, a company that uses artificial intelligence to help its sales and service representatives, has raised $50 million in Series B funding. The company has almost 100 customers, including Verizon, Porsche, and CarMax. It has projected that revenue will triple by 2021. The company is seeing growth from existing customers, who are signing five or six-figure deals to test its software.
Cresta raises $50 million in Series B funding
Cresta, which turns individuals into virtual client service agents, has raised $50 million in Series B funding. The startup offers real-time assistance via chat and calls. It has already attracted investors including Tiger Global, Greylock Partners, and Allen & Company. In a few short weeks, its revenue doubled and its valuation soared to $1 billion unicorn level.
The company’s AI platform helps enterprises improve customer service with real-time assistance. Its recent $50 million Series B funding comes from Sequoia Capital and other investors. Google X co-founder Sebastian Thrun and former AT&T CEO John Donovan also sit on Cresta’s board. The startup plans to use the funding to accelerate its growth and continue developing its AI platform, the Cresta Expertise Engine.
As the AI market continues to grow, Cresta is focusing on improving customer service. It recently acquired artificial intelligence startup TalkIQ, which uses software to study customer interactions. In addition to Cresta, other top-performing AI companies include Amazon Web Services and Salesforce. These companies also have dedicated teams focused on machine learning research.
Cresta’s technology enables companies to scale the skills of their top employees to meet the needs of customers. The startup initially focused on sales and customer service but has since expanded its customer base to include Porsche, Intuit, and Dropbox. In addition to its current customers, Cresta also announced that it has raised $50 million in Series B funding.
Company uses artificial intelligence to help sales and service representatives
AI can help companies speed up sales cycles, cut the ramp-up time for new sales representatives, and even help sellers find up and cross-sell opportunities. But these technologies are not without their flaws. It is important for companies to understand the capabilities of AI and how it will impact their sales strategy before incorporating it.
AI is used by organizations in every sector to make decisions and improve customer experiences. Sales organizations are no exception. AI is no longer an add-on, but a necessity for their teams in a rapidly-changing marketplace. Here’s how AI can benefit your company: It automates sales research and customer interactions, freeing up sales representatives’ time.
AI tools can also help sales representatives build trust and loyalty with their customers. They can quickly access customer information on social media and learn the most effective ways to approach them. They also help reps prioritize leads and identify those that are most likely to convert. Furthermore, intelligent tools can generate emails and other marketing materials with tailored messages to maximize the impact of every interaction.
AI can be used to identify decision makers and determine the best time to make sales. It also helps sales representatives by analyzing sales data and making recommendations based on past experiences and activity patterns. AI is already being used by many companies, but sales departments are slow to catch on. In fact, 90 percent of companies that use AI are planning to incorporate AI into email marketing and sales forecasting in the future.
Sales representatives are still critical to the company’s success. While AI can assist them with data analysis, they still need to use their own judgment to solve more complex problems. Using AI to help them is a smart way to improve customer service for everyone involved.
Founder Sebastian Thrun’s Google background is a “talent magnet”
Aldebaran Robotics is a French company that deals with humanoid robotics. Founded in 2005, it was one of the first companies in the world to deal with such technology. Thrun was at Google when the company was in its early stages, and his background at Google helped the company attract other talented engineers.
Cresta Raised $50 Million in Series Capital
Cresta is a real-time intelligence platform for contact centers. The company raised $50 million in Series B funding from Tiger Global and other top tier investors. The company’s revenue tripled last year and the company is valued at $1.6 billion post-money. Its artificial intelligence software helps retail agents answer customers’ questions and close more deals.
The company targets large enterprises, including Porsche, Verizon, and CarMax. Its revenue will triple by 2021 and is already in the double digits. A majority of its revenue will come from existing customers who sign five or six-figure contracts. This is a key driver of the company’s growth.
The company’s founder, Zayd Enam, was a doctoral student at Stanford University when he got the idea for Cresta. He was presenting his research in an AI lab there when his professor asked him about his future plans. It was then that Zayd Enam decided to leave his doctoral program and launch Cresta.
The company has also successfully raised $172.5 million in Series A funding. It is currently trading on the Nasdaq under the symbol KNBE. Despite its recent success, the company has faced challenges in the past. The biggest hurdle for Cresta is getting funding from the right investors.