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Grafton Capital invests $20m in Omilia

Grafton News, Portfolio Updates

28th Sep 2018

Home Grafton Capital invests $20m in Omilia

Grafton Capital has become the first outside investor in Omilia, investing a $20 million Series A funding round. Omila was founded in 2002 by Dimitris Vassos and is a leading global player in conversational AI with a focus on the customer experience. 

Omilia’s AI platform delivers automated, conversational customer care at enterprise scale. Leading businesses, across banking, insurance, telecom, and broadcast, rely upon Omilia’s platform to address hundreds of millions of customer queries per year. The company’s deepVB voice biometric technology operates in the background to verify the caller’s identity, and its customer care virtual assistant leverages machine learning (ML) algorithms for a more lifelike experience, which separates it from other Natural Language Understanding software. The technology also works on all platforms, including social networks and smart speakers, and with any existing system.

In an interview with TechCrunch, Omilia Co-founder and CEO Dimitris Vassos said: “The advantage of deepVB over competitive offerings is that we can do a very accurate reading with very little speech sample, and in the background. Users don’t need to say anything special. Therefore, we can seamlessly blend this technology in our AI voice bots.”

Customers implementing Omilia can improve their users’ satisfaction and increase automation in a unified platform to take pressure off contact center staff. The software supports 21 languages, including regional dialects and accents, and is trusted by large banks, mobile operators, and insurance firms. 

Omilia says it has improved the call capacity of its enterprise customers by 43 percent, increased self-service usage by 40 percent, reduced internal transfers by 96 percent, and cut call handling time by 50 percent and costs by 20 percent. The company reports that its revenues increased by more than 100 percent in 2019, coming mostly from North America.

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