Digital customer service has moved from “nice-to-have” to “must-have” for financial service firms.
Glia, a company that provides digital customer service tech as a service, demonstrated that reality, this week reaching $152M in total fundraising after a new round, effectively landing unicorn status of $1 billion in total valuation.
“The future of customer service is digital, and those that have yet to take steps to modernize their support and engagement strategies are already behind,” Dan Michaeli, Co-Founder, and CEO, said. “We’re thrilled by our investors’ confidence reflected in the round’s valuation, recognizing that we’ve only scratched the surface of what Glia can accomplish.”
R&D cash money
The New York based-global VC and private equity firm Insight Partners led the round, joined by existing investor Wildcat Capital Management and newcomers like RingCentral Ventures. Michaeli said that the proceeds would go directly toward R&D to fuel Glia’s decade-long commitment to innovation in digital service.
“Our rapid growth and successful relationships with financial services companies of all types demonstrate the urgent need for Digital Customer Service,” Michaeli said. “As we build upon a decade of innovation, this capital will further extend our reach and help even more businesses across the globe reimagine how they connect with customers digitally.”
Glia said it plans to invest in advanced AI, analytics, messaging, voice, and video capabilities. They also noted that the capital would aid in expanding their geographic footprint to deliver the benefits of Digital Customer Service to financial institutions all over the globe.
Seamless digital experience
Based in NYC, Insight Partners is a global software investor with $90B in assets under management.
They said they have more than 600 companies worldwide. Lonne Jaffe, MD at Insight Partners, said the opportunity was too great to pass up.
“As enterprises digitize processes and services across the board, digital communication is inevitable, and Glia is leading the way in digitally transforming customer service,” Lonne Jaffe, MD at Insite Partners, said.
“Most people haven’t yet experienced first-hand the magic and power of Digital Customer Service as consumers, which stems from Glia’s proven ability to create seamless, uninterrupted experiences across co-browsing, voice, chat, and video. We’re excited to support Glia once again as they deepen their investment in R&D and continue to set the standard for Digital Customer Service across the globe.”
Glia has partnered with over 250 banks, credit unions, insurance companies, and other financial institutions across the globe.