Glia revealed on Monday that a Series D investment headed by Insight Partners had brought in $45 million for the company.
The business has received new capital, increasing its valuation to over $1 billion, making it the newest tech unicorn in New York City. More and more consumer requirements are being met online, and as a result, individuals who are creating tools to help meet those wants are becoming more and more well-known.
The most recent development is Glia, which just closed a $45 million Series D funding round, raising the company’s valuation to over $1 billion.
Working and Future Planning Of The Glia
Have you ever spent hours on hold hoping a customer service manager would come to your rescue only to be greeted by a voice automated system that was unable to comprehend your request to “talk to a representative”? Glia, a customer relationship management firm driven by artificial intelligence, is on a quest to ease that all-too-familiar aggravation.
Glia is ecstatic that our investors had faith in us as seen by the round’s value and realizes that we have only begun to scratch the surface of what Glia is capable of. Our rapid growth and successful collaborations with numerous financial services companies demonstrate the importance of digital customer service in today’s market.
About The Company And Its Fundings
Former investors Insight and Wildcat contributed to Glia’s $78 million Series C financing in January 2021. The company, which has its headquarters in New York and a sizable workforce in Tallinn, Estonia, claimed it has now received more than $150 million in total.
Glia collaborates with businesses like banks and credit unions to offer message, audio, and video support to customers who run into problems and require assistance.
Glia’s co-founder and CEO, Dan Michaeli, Said We’re overjoyed by the confidence of our investors demonstrated in the round’s valuation, realizing that we’ve only begun to scratch the surface of what Glia can do. Glia’s global reach will be extended even further with more funding.
Because of the company’s amazing development and speed as well as the large market opportunity, we are investing more in it, according to Lonne Jaffe, managing director at Insight Partners.
The enchantment and strength of digital customer service, which derives from Glia’s demonstrated capacity to establish seamless, uninterrupted experiences across co-browsing, voice, chat, and video, are still largely unknown to the majority of people.
A little over a year after its $78 million Series C fundraising, Glia received new money.
CRM Technologies Of Glia
According to the business, Glia has alliances with over 250 financial institutions worldwide in 12 countries. Glia first established its reputation by offering CRM technologies to the finance sector, and the majority of its clients are still found in that sector.
It asserts that credit unions, insurance companies, more than 250 banks, and other lenders presently utilize its technologies to help their customer service agents answer support requests and, given how strong customer service and sales are now interwoven, possibly upsell those clients to further services.
Similar to the last round, R&D will receive the majority of the funds. In particular, Glia intends to develop more tools that make use of analytics and AI to assist customer service representatives in their direct work with clients — both to assist them with basic support questions and in those instances where they screen share with clients to get guided through a problem and then navigate them to fixing an issue.
It claimed to have handled over 10 billion interactions to date, creating a sizable data set that is utilized to train and improve its machine learning algorithms. Additionally, Glia will spend on improving its messaging, audio, and video products.
Finally, Glia will make investments in business development to increase its global reach. Since publicly traded RingCentral has hundreds of international clients, Glia will probably invest more in developing services to cater to that international clientele.
Customer service is unlikely to move away from those digital channels when the globe calms down following COVID-19 being entrenched and something we can live with.