CloudTalk, the Bratislava-based startup that offers cloud call center software-as-a-service, has raised 6 million EUR in Series A funding, adding to their €1.3M seed investment by Presto Ventures from 2019. The round is led by henQ and joined by Point Nine Capital. With this investment, the team is looking to expand its marketing, sales and product development efforts to new regions.
Founded in 2018 by Martin Malych and Viktor Vanek, the company started as an embeddable click-to-call widget but realized that there was potential to build something with a much greater impact. That’s how CloudTalk was born. Now, as CloudTalk successfully expands to new markets — with customers from over 80 countries — it is seeing that the demand for modern cloud-based call center solutions is bigger than ever, supported primarily by the shift to remote work.
The long-stagnant $50B-a-year telephony market continues to experience a gradual shift towards modern cloud-based solutions, with 70% of contact centers currently being built on legacy on-premise solutions. CloudTalk is attracting companies from the small- to medium-sized spectrum, with an average of 10 to 3,000 users.
CloudTalk’s main focus is building a product that focuses on pristine call quality, workflow automation and configurability — in other words, a modern phone suite. Aside from that, CloudTalk’s unique selling point is the ability to easily integrate with leading CRMs and helpdesks, giving customer service agents and sales teams better visibility of their customer or prospect base. This saves them 2-3 minutes per call because the need to look up information or to update systems post-conversation is significantly reduced.
“On our mission to provide services with top of the class call quality, we had to tackle multiple technical obstacles. Instead of going the traditional route and being dependent on 3rd-party vendors like Twilio, we decided to build our own infrastructure, giving us better control over voice quality and enabling us to deliver this promise to our customers,” Malych said.
CloudTalk has 8x its valuation since seed and has set ambitious goals for 2021 with confidence. “At this stage, planning for the next year was surprisingly easy. We’ve already identified the key growth initiatives and are simply scaling up on what has been working for us,” Vanek said.
“At CloudTalk, we started out as a few people obsessed with new cloud technology. Today, we are a team of 57 people, 11 different nationalities, servicing thousands of customers from over 80 countries. Our plans are to triple our headcount, develop multiple new integrations and set up an AI-focused Innovations Lab that will help us bring innovations to the long-outdated business telephony market,” Malych added.
Since 2019, CloudTalk’s customer base has grown 25x and spans a wide range of industries — with the company’s presence being the strongest in the SaaS, e-commerce, tech and finance field, and with prolific customers such as Glovo, OYO, Fujitsu and Tech Mahindra relying on its technology.
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