Omilia, a customer support platform specializing in voice AI, has raised $67 million in Series B funding led by Expedition Growth Capital. The round follows a $20 million raise from Grafton Capital in 2020, and marks the company’s second capital infusion. The funds will be used to open a new U.S. office, bolster its go-to-market team, and hire key leadership roles including a chief revenue officer and chief marketing officer.
The company has managed to increase its annual recurring revenue by 10 times since 2020, reaching $60 million. CEO Dimitris Vassos emphasized that Omilia’s success is rooted in its strong unit economics, which allows the company to operate without large cash infusions compared to competitors. Vassos also highlighted the importance of offering real ROI, stating that companies with this capability will dominate the market in the coming years.
Omilia’s clients include major brands like Capital One, Discover, and Taco Bell, which has deployed the company’s technology across more than 1,000 outlets. Vassos noted that quick-service restaurants are now a key focus area, though he acknowledged that AI deployments can be hit or miss, citing a reported incident at Taco Bell where a customer ordered 18,000 cups of water. Vassos maintains this incident never occurred, and Omilia’s logs do not support it. The company is currently in talks with two more U.S. quick-service restaurants.
Source: techcrunch
