Omilia raises $67M to expand its AI customer support platform

In short: Omilia, a company that helps businesses handle customer calls and messages with AI, raised $67 million in new funding.

What happened

Omilia, which is based in Athens, raised a $67 million Series B round led by Expedition Growth Capital. A “Series B” is a common step for startups to raise money to grow after they have already proven they can sell their product.

The company builds tools that automate customer support across phone calls, chat, and messages. You can think of it like a digital support agent that can answer routine questions, and pass harder issues to a human when needed.

Omilia’s CEO, Dimitris Vassos, said the company does not believe every support task needs the most complex kind of AI. He argued that many customer questions are simple, like checking an account balance, so using a large language model (an AI that generates text like a very advanced autocomplete) can be unnecessary.

Omilia said this is its second fundraise since a $20 million round in 2020. It also said its annual recurring revenue, meaning the subscription-like revenue it expects to repeat each year, has grown 10 times to $60 million.

The company plans to use the new money to open a new office in the US, hire senior sales and marketing leaders, and grow its staff from about 500 people to 600 by the end of the year. Omilia said its clients include Capital One, Discover, and Taco Bell, and it is focusing more on quick-service restaurants using voice ordering.

Why it matters

When customer support automation works well, it can mean shorter wait times and faster answers for everyday problems. This funding shows investors are still putting money into AI-powered support, but Omilia is betting that simpler, more targeted tools can be more practical than using heavy-duty AI for everything.

Source: TechCrunch AI