Aircall, a cloud-based customer service and call center technology provider, has raised $120 million in its latest round of funding, propelled by investors to a $1 billion valuation.
Founded in 2014, Aircall is a French startup that has grown strongly this year, from 166 employees to 254 in just the last 6 months.
This announcement marks an important step for Aircall, demonstrating that its cloud-based customer service technology has captivated the attention of investors and opened up a new chapter for the company.
Aircall gets $120 Million Funding, Crosses a $1 Billion Valuation
Aircall is a cloud-based phone system tailor-made for modern business. It offers impressive features to better serve customers, increase team efficiency, and improve customer experience. Aircall offers immediacy and scalability while providing sophisticated tools to manage outbound calling campaigns. With its advanced analytics and insights, it’s easy to measure the success of customer communication and adjust tactics as needed with minimal effort.
Aircall was founded in 2014 to simplify business communication, faster, and easier for companies of any size. The company has since raised over $170 million across seven funding rounds from investors such as Bpifrance Large Venture (BPLV), Bessemer Venture Partners, DTCP，Elaia Partners，Accel and Idinvest Partners. In 2020 Aircall acquired Talkdesk’s phone system division, adding significant capacity in call center capabilities to Aircall’s technology stack. This adds functionality such as automated call routing scripts & interactive voice response (IVR) which are essential components of a comprehensive call center solution.
As of April 2021 coverage area includes the USA & Canada in North America; UK, France & Ireland in Europe; India & Singapore in Asia-Pacific; and Brazil in Latin America. In addition, the platform supports multiple languages including English, Spanish, Portuguese, French and German with more languages due for release soon according to the company’s roadmap for 2021/22.
Funding Round
On Wednesday, Aircall announced its latest funding round of $120 million, giving it a new valuation of over $1 billion. Goldman Sachs led the Series D funding with participation from Tiger Global, Battery Ventures, Unusual Ventures, and previous investors.
This new investment brings Aircall’s total capital raised to more than $230 million and marks an important milestone in the company’s growth.
Amount Raised
Aircall, a French cloud-based phone service provider, announced that it has raised an additional €50 million (approximately $58 million) in a Series C funding round. The round was led by Bpifrance Large Venture and by existing investors Balderton Capital, Alven and Storm Ventures. This brings the total amount of money that Aircall has raised to over €88 million (approximately $102 million).
The additional funds will be used to expand Aircall’s global launch, build out its customer success team, invest in product excellence and enhance its AI capabilities. According to co-founder and CEO Olivier Pailhes, “With this funding round we can double down on our vision and ambition; from maintaining exceptional customer experience at scale across our entire global customer base –independent of size– as well as pushing forward research and development initiatives across automation/AI-based operations and data insights for further accelerating our go-to-market strategy.”
Valuation
Aircall’s latest round of funding secured over $65 million from a range of investors, valuing the customer care technology company at over $1 billion. This brings approximately $160 million in equity funding for Aircall, since the startup raised its first round in 2015.
Leading this recent financing series is 83North Ventures and Costanoa Ventures. Other institutional investors participating in this funding round include Balderton Capital, Felix Capital, DN Capital and Elaia Partners. This latest financing consists of new and existing investors alongside several global funds and business angels that have followed the company through its last four rounds of fundraising.
The capital will help extend Aircall’s global footprint through continued product development and international expansion efforts throughout 2021.
Investors
The recent funding round for Aircall, a fast-growing cloud-based phone service provider and customer service platform, was led by DN Capital, a global venture capital firm based in London. Other participants included Balderton Capital, Idinvest Partners, and GV (formerly Google Ventures). The financing round raised $65M in Series C funding, bringing Aircall’s total investment to over $100M.
This latest investment round was led by DN Capital Founding Partner Simon Baker who will join Aircall’s Board of Directors. Other investors included Balderton’s Tim Bunting, who will be Vice-Chairman of the board; Capital One Growth Ventures Director Michel Philippot; and Business France Chairman Benoît Legrand.
The Series C closing is especially notable as it marks the second time Aircall has closed over $60M in growth equity investment following their Series B which also had significant international participation from new and existing investors such as Natixis Investment Managers’ Alven Capital and Bpifrance Digital Ventures.
All investors are expected to help guide the company’s continued rapid international expansion and market partnerships. With this additional capital infusion, Aircall will focus on further accelerating its growth in Europe and continuing its impressive momentum in the United States.
Impact of Funding
The recent $120 million funding round secured by Aircall has helped it cross a coveted mark of $1 billion valuation. This funding round is expected to help the company grow its customer base, investments in product innovation and accelerate its expansion in the US and other parts of the world.
It is certainly a milestone for Aircall, as it has become one of the few companies in its segment to receive such a substantial inflow of funds.
Let’s take a look at the impact of this funding round.
Growth Opportunities
The latest funding round in Aircall brought investments from top-tier venture capital firms and strategic investors to create long-term growth opportunities through increased customer acquisition, product development and geographic expansion. The funds will also be used to invest in key areas essential for growth such as research, academic partnerships and strategic acquisitions.
The strategy is simple: using this newly acquired capital, Aircall can make strategic investments that will fuel its expansion and deepening of the customer base over time. The investors in this round represent a significant number of strategic partners, venture capitals, accelerators, operating companies and hedge funds, making it a powerhouse group that can easily take this company to the next level.
Some of these investors include lead investor Accel with 10 other stellar participants including Open CNP, Next World Ventures, Touchdown Ventures and Wavemaker Partners. By investing in Aircall, these leaders recognize their role in driving business transformation powered by cloud communication technologies. By joining forces this group of impressive investors seek to transform the customer experience landscape by providing powerful tools that empower businesses through innovation while leveraging existing investments.
Expansion Plans
The new injection of funding for Aircall will enable the company to further expand their reach in the global market and invest in technology to create more convenient customer experiences. The capital investment is expected to help finance an expansion strategy that will include international office openings, sales initiatives and enhanced product development to bring customers more advanced call center solutions.
This investment opportunity allows investors to take an early stake in Aircall’s continued growth, while having a say in the on-going success of the business. Their strategies are taking advantage of a lucrative market opportunity with great potential for further growth spurred by technology-driven transformation across many industries.
By making this significant investment now, investors have an opportunity to help Aircall maintain their leadership position when competing against large incumbents and digital-first interlopers. This shows their confidence in the long-term value of their innovative call center solutions and highlights its potential for disruptors within its market segment. During this pivotal period, Aircall’s approach centers on helping organizations transform with digital customer service solutions while elevating human interaction within contact centers worldwide.
Conclusion
In conclusion, Aircall’s latest funding round was hugely successful, with $75 million raised from existing and new investors. Existing investors such as Balderton Capital, DN Capital, Amplo and FirstMark Capital were joined by new investors including 8VC and Prime Ventures.
This impressive group of investors highlights the business world’s confidence in Aircall as it continues to develop its cloud-based call platform for businesses. The $75 million raised will enable the company to further innovate and expand its product offerings across different markets.
tags = Aircall, $120 Million Funding, launched in 2014, French company, aircall crm 120m group 1b tsebloomberg, crm goldman sachs 1b tsebloomberg, cloud-based phone mechanism, helpdesk and CRM tools
