Omilia Raises $20 Million for AI Innovation
Omilia supports the growth of its conversational AI
Innovator in the conversational AI landscape, Omilia, recently raised $20 million with Grafton Capital to enhance the growth and adoption of its leading conversational AI. The customer care virtual assistant from Omilia uses machine learning to provide a more human-like experience, working on all platforms, from web chat, to social media, SMS, and phone systems too.
Omilia uses a contextually aware system for dialog management to guide customers through a call, while biometric technology works in the background to verify caller identity. This ensures that customers can access human-level support without having to worry about lengthy wait times and complex security protocols. At the same time, businesses can access better customer satisfaction, a more unified platform, and improved security too.
Transforming Customer Interactions
Since the start of the company in 2002, Omilia’s machine learning solution has trained using billions of interactions. In 2019, the revenue for the company grew by more than 100%, with massive input from North America. What’s more, the customer care assistant is now available in 21 languages, with access to different accents and dialects too.
The Omilia AI is a market leader in conversational intelligence, used by banks, insurance firms, and mobile operators alike. The service improves call capacity by up to 43%, and self-service use by 40%, while also reducing the number of internal transfers by up to 96%. Omilia also reduces call handling time and demand for return calls by up to 50%.
Omilia’s AI system echoes human understanding and conversation. The proprietary speech recognition software, dialogue technology, and voice biometrics in the system can be deployed both in the cloud and on-site. Additionally, the company can provision the technology rapidly, without any need for excess downtime.
Beyond the Integrated Platform
Aside from its integrated platform, Omilia also offers plug-and-play services in the form of miniApps. These tools require no training or coding, and they’re each independent components, configurable to support various business rules. As companies worldwide have had to direct customers to the digital world in the time of the coronavirus outbreak, Omilia’s platform provides a scalable solution.
Automated customer service technologies have promised a lot for a long time, but Omilia intends to finally deliver on those processes. Co-founder and CEO of Omilia, Dimitris Vassos, said that the company left legacy approaches behind, and built a solution with the customer journey in mind. The Managing Partner of Grafton Capital, Oliver Thomas, will be joining the Omilia board of directors after the new investment. Oliver noted that the company has spent months listening to brands around the globe praising the performance of Omilia’s platform.
According to Thomas, Omilia is the only AI platform available today that is capable of delivering a scalable and effective conversational experience. The new capital offered by Grafton will help to strengthen Omilia’s indirect and direct go-to-market strategies in Western Europe and North America. Omilia will also be investing to extend its tech footprint globally.