Balto, a St. Louis-based real-time guidance startup, has secured $37.5 in Series B financing to expand its foothold in the contact center industry.
The funding round was led by Stripes and counted with participation from RingCentral Ventures, Sierra Ventures, TIA Ventures, OCA Ventures, Stage Venture Partners, SaaS Venture Capital, Sandalphon Capital, Cultivation Capital, and Atreides Management. Stripes Operating Partner Riadh Dridi, who will be joining Balto’s board of directors, referred to the round by saying:
“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. 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.”
Balto seeks to provide contact centers with a means to improve communication in real-time, especially when it comes to closed-loop reporting to identify and escalate top-performing behavior. This approach has resulted in the real-time guidance startup surpassing 75 million guided calls with more than 160 million real-time recommendations. CEO Marc Bernstein referred to Balto’s vision by stating:
“Balto is creating a mindset shift that is something you only see with category-defining products. 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. 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.”
During the next year, the real-time guidance startup will focus on improving the platform’s ability to surface insights to users as well as the technology behind its fully automated loop, cementing itself as a major contributor to the contact center industry.