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."