The AI-powered coaching platform for sales and customer service agents has seen revenue quadruple over the past year. Here are the top-line bullets you need to know.
Cresta, an AI-powered contact center software provider, has raised a $50M Series B. The round was led by Sequoia Capital along with participation from Andreessen Horowitz, Greylock Partners, Porsche Ventures, and Allen & Company.
How’s the company performing?
- San Francisco-based Cresta provides real-time coaching to sales and customer service agents on calls or chats.
- Cresta’s revenue reportedly quadrupled in the last year. The company also launched an integration with Amazon Web Services’ Amazon Connect cloud contact service platform in 2020.
- Cresta’s customers include Intuit, Porsche, Adobe, Dropbox, Cox Communications, and other Fortune 500 companies.
Why does the market matter?
- The contact center software market is expected to grow at a CAGR of 14.3%, from $20.72B in 2020 to $60.32B by 2027, according to a report from Fortune Business Insights.
- The Covid-19 pandemic has increased the influx of customer inquiries, leading companies to deploy smart and automated AI solutions to tackle the surge in queries and increase the bandwidth of their contact centers.
- Major players like Avaya, SAP, Mitel, Alcatel-Lucent, and Cisco are investing substantially in contact center software solutions.