Cresta, a US-based artificial intelligence startup, has secured $125 million in a Series D funding round. The round was led by new investors World Innovation Lab and QIA, with participation from Accenture, Comcast Ventures, EnvisionX, LG Ventures, Qualcomm, Scan Health, Workday Ventures, and returning investors Andreessen Horowitz, Greylock Partners, J.P. Morgan, Sequoia Capital, and Tiger Global. This latest investment brings Cresta’s total funding to over $270 million.
Cresta provides an integrated platform that enhances customer conversations and workflows for contact centers through a combination of human and AI agents. The company has experienced remarkable growth over the last two years, nearly quadrupling its annual recurring revenue and almost doubling its customer base. To support this expansion, Cresta plans to open new engineering hubs in Romania and India, adding to its existing offices in Palo Alto, San Francisco, New York, Berlin, and Toronto.
Zayd Enam, Chief Executive Officer at Cresta, said, “Cresta provides Fortune 500 companies like Intuit and Verizon with leading AI-powered technology that empowers them with clear competitive advantages.
Cresta secures major Series D funding
With this latest round of financing, we look forward to expanding our end-to-end AI platform to help dramatically reimagine how contact centers function and expand the use of human-centric AI to both augment human agents and make them more effective, while also using virtual agents to save costs.”
Cresta’s platform has helped clients like Brinks Home, North America’s leading home security and alarm monitoring company, transform their contact center operations and revitalize customer engagement.
By combining real-time agent assistance with Cresta’s AI-driven quality management and coaching capabilities, Brinks Home successfully cut QM costs by 50%, increased first-call resolution to 75%, and boosted their net promoter score by 30 points. William E. Niles, CEO of Brinks Home, said, “Partnering with Cresta has enabled us to build stronger customer connections, boost retention, and drive revenue.
We have transformed customer conversations into a competitive edge, cutting call transfers from 30% to 8%—a 73% improvement. Furthermore, we are thrilled to use Cresta’s next-generation virtual agent platform to dramatically reduce costs and reinvest in the business in other ways. It’s going to be a complete game changer for Brinks Home.”
The funding follows Cresta being named to the Forbes AI 50 List of Top Artificial Intelligence Companies of 2024 and recognition in Forrester’s Real Time Revenue Executions Platforms Q2 2024 Wave.
This substantial funding round highlights the rising demand for AI-driven solutions in the customer service industry and positions Cresta for further development and innovation in transforming contact center operations.
