Real-time guidance platform Balto has announced the completion of a $37.5 million Series B funding round led by Stripes and joined by RingCentral Ventures.
The funding follows Balto’s two latest product releases, while the company’s Real-Time Platform surpasses 75 million guided calls and 160 million Real-Time Recommendations. The total funding is valued at $52 million.
Balto’s CEO Marc Bernstein said:
“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.”
Balto plans to close the execution gap by providing contact centres with a way to improve conversations as they’re happening. This round of funding will be used to make leaps in closed-loop reporting, allowing organisations to tie agent behaviour to call outcomes and scale top-performing behaviour to the entire organisation.
“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.”
“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”, added Bernstein.
Riadh Dridi, Operating Partner at Stripes, said: “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.”
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.
