Cresta Closes $125 Million Series D

<p><strong><span class&equals;"legendSpanClass"><span class&equals;"xn-location">PALO ALTO<&sol;span><&sol;span> <&sol;strong>&&num;8212&semi; <u><a href&equals;"https&colon;&sol;&sol;c212&period;net&sol;c&sol;link&sol;&quest;t&equals;0&amp&semi;l&equals;en&amp&semi;o&equals;4306354-1&amp&semi;h&equals;3547298440&amp&semi;u&equals;https&percnt;3A&percnt;2F&percnt;2Fcresta&period;com&percnt;2F&amp&semi;a&equals;Cresta" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener">Cresta<&sol;a><&sol;u>&comma; an end-to-end generative AI platform for contact centers&comma; has announced the closing of its <span class&equals;"xn-money">&dollar;125 million<&sol;span> Series D round of financing&period; The round was led by new investors World Innovation Lab &lpar;WiL&rpar; and QIA with participation from Accenture&comma; EnvisionX Capital&comma; LG Technology Ventures&comma; Qualcomm Ventures&comma; and Workday Ventures&period; The round also includes returning investors Andreessen Horowitz&comma; Greylock Partners&comma; J&period;P&period; Morgan&comma; Sequoia Capital&comma; and Tiger Global&period; This brings the company&&num;8217&semi;s total funding to over <span class&equals;"xn-money">&dollar;270 million<&sol;span>&period;<&sol;p>&NewLine;<p>There is increased pressure in the contact center space to drastically drive down costs while improving customer loyalty and top-line revenue&period; Cresta provides a unified platform for human and AI agents that transforms customer conversations and workflows at every level of the contact center&period; With Cresta&comma; customers can uncover real-time insights and behavioral best practices in order to scale winning behaviors across their human agents&comma; while automating mundane tasks using virtual agents&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Cresta provides Fortune 500 companies like Intuit and Verizon with leading AI-powered technology that empowers them with clear competitive advantages&comma;&&num;8221&semi; said <b><span class&equals;"xn-person">Ping Wu<&sol;span>&comma; Chief Executive Officer at Cresta<&sol;b>&period; &&num;8220&semi;With this latest round of financing&comma; 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 to make them more effective and save costs using human-like virtual agents&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Cresta also announced several major milestones for the company&colon;<&sol;p>&NewLine;<ul >&NewLine;<li>In the last two years&comma; the company says it has nearly quadrupled its annual recurring revenue &lpar;ARR&rpar; and nearly doubled its customer base&period;<&sol;li>&NewLine;<li>Cresta will be rapidly scaling R&amp&semi;D&comma; opening two new engineering hubs in <span class&equals;"xn-location">Romania<&sol;span> and <span class&equals;"xn-location">India<&sol;span> to add to existing offices in <span class&equals;"xn-location">Palo Alto<&sol;span>&comma; <span class&equals;"xn-location">San Francisco<&sol;span>&comma; <span class&equals;"xn-location">New York<&sol;span>&comma; <span class&equals;"xn-location">Berlin<&sol;span>&comma; and <span class&equals;"xn-location">Toronto<&sol;span>&period;<&sol;li>&NewLine;<li>Cresta has appointed <span class&equals;"xn-person">Rob Theis<&sol;span>&comma; General Partner and Chief Investment Officer at WiL&comma; to the company&&num;8217&semi;s board of directors&period;<&sol;li>&NewLine;<&sol;ul>&NewLine;<p>&&num;8220&semi;Ping and the Cresta team consistently show that they have what it takes to succeed in the contact center AI space&comma;&&num;8221&semi; said <b><span class&equals;"xn-person">Rob Theis<&sol;span>&comma; General Partner and Chief Investment Officer at WiL &lpar;World Innovation Lab&rpar;<&sol;b>&period; &&num;8220&semi;We were impressed by Cresta&&num;8217&semi;s track record with Fortune 500 companies and we view Cresta as the strongest end-to-end platform in the market&period; They are defining the next era of contact centers with best-in-class AI performance&period;&&num;8221&semi;<&sol;p>&NewLine;