Cresta Secures $125M to Expand AI Platform
Deal News | Nov 19, 2024 | LG Technology Ventures LLC
Cresta, a generative AI platform for contact centers, has raised $125 million in a Series D funding round led by new investors WiL and QIA. The round included participation from Accenture, EnvisionX, LG Technology Ventures, Qualcomm, Workday Ventures, and returning investors like Andreessen Horowitz and Sequoia Capital, bringing its total funding to over $270 million. The funds will be used to enhance Cresta's AI capabilities, expand its product suite, and boost its go-to-market efforts. Cresta plans to scale research and development, opening offices in Romania and India. Cresta has significantly grown its ARR and customer base over the last two years and has been acknowledged for its innovations, being named to the Forbes AI 50 List. The company aims to redefine contact centers through its human-centric AI solutions, providing Fortune 500 companies significant competitive advantages in customer engagement and operational efficiency.
Sectors
- Artificial Intelligence
- Venture Capital
- Contact Center Technology
Geography
- United States – Cresta is based in the United States, and several investors and partners, like WiL and Accenture, have operations in the U.S.
- Qatar – QIA, the sovereign wealth fund of Qatar, is one of the leading investors in this funding round.
- Japan – WiL has operations in Japan and focuses on fostering connections between startups and corporations in the region.
Industry
- Artificial Intelligence – Cresta operates in the AI space, providing AI-powered solutions for contact centers to improve customer engagement and operational efficiency.
- Venture Capital – The article discusses a Series D funding round involving multiple venture capital investors.
- Contact Center Technology – Cresta's products are designed to advance the technology used in contact centers, making them more efficient.
Financials
- $125 million – The amount raised by Cresta in its Series D funding round.
- $270 million – The total funding raised by Cresta to date including the Series D round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cresta | Target Company | Company | An AI platform for contact centers aiming to transform customer interactions and operational processes. |
| LG Technology Ventures LLC | Investor | Company | A venture capital firm involved in Cresta's Series D funding. |
| WiL (World Innovation Lab) | Investor | Company | A venture capital firm leading Cresta's Series D funding round with offices in Palo Alto and Tokyo. |
| QIA (Qatar Investment Authority) | Investor | Company | The sovereign wealth fund of Qatar participating in the Series D funding. |
| Ping Wu | CEO | Person | Chief Executive Officer at Cresta. |
| Rob Theis | Board Member | Person | General Partner and Chief Investment Officer at WiL, appointed to Cresta's board. |