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Cresta Raises $125M to Create the Unified Platform for Human and Virtual Agents
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CRESTA RAISES $125M TO CREATE THE UNIFIED PLATFORM FOR HUMAN AND VIRTUAL AGENTS

I’m excited to share a major milestone in Cresta’s journey today: we’ve secured
$125 million in Series D funding, co-lead by World Innovation Lab (WiL) and QIA,
with additional contributions from Accenture, EnvisionX, LG Ventures, Qualcomm,
and Workday Ventures. Returning investors Andreessen Horowitz, Greylock
Partners, J.P. Morgan, Sequoia Capital, and Tiger Global also joined the round.



This new round brings our total funding to over $270 million, and it stands as a
reflection of the confidence our investors, existing and new, have in our work
to transform the contact center industry with human-centric AI.

What makes this moment especially exciting for us isn’t just the funding raised
– although that certainly helps. It’s what this investment represents: the
opportunity to double down on the work we’re already doing and rapidly deliver
more value to our customers.


EXPANDING THE VISION: HUMAN-CENTRIC AI

Our mission is to help organizations redefine the way they approach customer
service through the power of combining human expertise with the capabilities of
AI.

Contact centers are at a turning point. The pressure to reduce costs while still
delivering exceptional customer experience and growing revenue is higher than
ever, and we’ve been laser-focused on addressing this challenge. For many
businesses, there isn’t a higher point of leverage to drive efficiency with AI
than the contact center given the incredible annual human labor investment,
inefficient processes, and legacy technology.

At Cresta, we’ve built a platform that doesn’t just automate tasks for the sake
of efficiency. We’re enabling contact centers to leverage real-time insights,
behavioral best practices, and virtual agents to fundamentally reimagine how
they operate. And we’re doing it in a way that puts the human element in the
center. Our AI blends human augmentation with AI automation through virtual
agents in a flywheel that helps enterprises successfully transition into the AI
era.

Starting with human augmentation allows for you to maximize your existing
investment in your teams, capture data to train future models, and identify
automation opportunities. Automation takes over from there to take over the
mundane, inefficient work, while allowing your human agents to do what they do
best creating an efficient and effective customer experience.






PIONEERING INNOVATION

This funding allows us to accelerate our vision. With it, we’ll continue
expanding our R&D team, with new engineering hubs in Romania and India, to push
the boundaries of what our AI can do. We’re continuing to grow our global
footprint and investing in the innovations that will drive true value for our
customers.

CRESTA TALKS





Just last month, we announced Cresta Voice Virtual Agent, a powerful, autonomous
solution that’s built in a hybrid approach: combining advanced LLMs with
deterministic systems to transform the customer experience. This all-in-one
solution delivers 24/7 personalized and empathetic experiences, effortlessly
managing complex, multi-step workflows – all while seamlessly collaborating with
human agents. Designed to continuously learn from both virtual and human
interactions, Cresta’s virtual agent ensures every customer experience is
thoughtful and efficient. Read more about Cresta Voice Virtual Agent here.

SAY GOODBYE TO SLOW, LIMITED CONVERSATION ANALYSIS





Outcome Insights empowers organizations to uncover the key topics and agent
behaviors that are driving case resolution across every single customer
interaction. Using our proprietary AI, it accurately detects resolved and
unresolved conversations, delivering precise resolution rates across 100% of
interactions – or seamlessly integrating with your own existing case disposition
data. With advanced drill-down features, teams can identify the reasons behind
low resolution rates and reinforce the high-impact agent behaviors that are
resolving cases. By tracking resolution rates over time, businesses can monitor
the effectiveness of coaching initiatives and operational changes.

Outcome Insights not only increase first-call resolution (FCR), but also have a
measurable impact on Average Handle Time (AHT) by helping agents work more
efficiently. Additionally, by aligning agent behaviors with best practices,
Outcome Insights drive improvements in Customer Satisfaction (CSAT), ensuring a
smoother and more satisfying customer experience.

ACCESS IMMEDIATE VOICE-OF-CUSTOMER INSIGHTS





AI Analyst transforms how teams interact with their data, enabling
natural-language questions for instant, powerful insights without the need for a
Masters in Statistics. Users at any level can dive deep into their conversation
data, exploring root causes, before-and-after comparisons, and recommended
searches – all prioritized by their ultimate impact on business outcomes.
Customizable dashboards empower every user to slice and dice data the way they
want to, save key reports, and share insights tailored to their unique roles and
objectives. It’s voice-of-the-customer insights, democratized. With AI Analyst,
reporting becomes both more accessible and actionable, equipping organizations
to unlock deeper intelligence and drive more strategic decisions with ease.


LOOKING AHEAD

I want to take a moment for some important thank you’s. I want to thank our
investors, both new and returning, for their trust in Cresta’s mission. Special
thanks to Rob Theis and the team at WiL for believing in our potential to lead
the AI revolution in contact centers. Rob is joining our board, and I know his
deep expertise in this space will be invaluable as we navigate this next phase
of growth.

I also want to recognize the incredible team at Cresta. None of this would be
possible without the passion, dedication, and relentless drive this team brings
every day. You’ve turned bold ideas into reality, pushed the boundaries of
what’s possible with AI, and delivered meaningful results for our customers
every day.

We’ve hit some major milestones over the last two years: quadrupling our annual
recurring revenue (ARR), partnering with incredible brands like Cox
Communications, United Airlines, and more, and launching groundbreaking
products. But there’s so much more to come.

For those of you who have been with us on this journey, thank you for your
support. And for anyone out there who’s thinking about how to evolve their
contact center – we’d love to chat. We’re just getting started.

Ping Wu
CEO, Cresta

To read more about the details of today’s announcement, please read our press
release.

Author:

Ping Wu

November 19, 2024

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