Total amount raised
$276 Millions
Latest funding date
Location
Title
Cresta has successfully raised $125 million over multiple funding rounds, achieving unicorn status with a valuation exceeding $1 billion. The company leverages artificial intelligence to enhance the performance of sales and service agents, offering a suite of tools designed to improve customer service quality.
Keep reading to explore the intricacies of Cresta's fundraising journey and the investors backing this innovative platform.
What Is Cresta?
Cresta, founded in 2017, is headquartered in Palo Alto, California. The company was established by Andre Esteva, Sebastian Thrun, Shan Huang, and Tim Shi.
Specializing in artificial intelligence, Cresta offers a generative AI platform designed to enhance the performance of sales and service agents. Their solutions include AI Agent, Agent Assist, and Conversation Intelligence.
With a workforce of 251-500 employees, Cresta focuses on improving customer experience, reducing costs, and increasing revenue for contact centers.
How Much Funding Has Cresta Raised?
- Seed Round
- Amount Raised: $6M
- Date: February 2, 2020
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial AI platform and secure early partnerships.
- Series A
- Amount Raised: $15M
- Date: February 3, 2020
- Lead Investors: Greylock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the AI capabilities of the platform.
- Series B
- Amount Raised: $50M
- Date: March 31, 2021
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the customer base and improve product offerings.
- Series C
- Amount Raised: $80M
- Date: March 17, 2022
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and invest in new AI-driven features.
- Series D
- Amount Raised: $125M
- Date: November 19, 2024
- Lead Investors: Qatar Investment Authority, WiL (World Innovation Lab)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the AI platform and expand global presence.
Total Amount Raised: $276M. Current Valuation: Over $1 billion.
Key Investors
- Qatar Investment Authority (QIA)
- Details: QIA is the sovereign wealth fund of the State of Qatar, established in 2005. It manages the state's reserve funds and invests globally across various asset classes.
- Investment Focus Areas: Technology, real estate, infrastructure.
- Notable Investments: Volkswagen, Barclays, Harrods.
- World Innovation Lab (WiL)
- Details: WiL is a venture capital firm with offices in Palo Alto and Tokyo. It aims to bridge startups and corporations in the U.S. and Asia, particularly Japan.
- Investment Focus Areas: Fintech, insurtech, automation, cybersecurity, health tech.
- Notable Investments: Mercari, Asana, Auth0.
- Andreessen Horowitz
- Details: Andreessen Horowitz is a private venture capital firm that invests in early-stage and growth-stage technology companies. It was founded in 2009 by Marc Andreessen and Ben Horowitz.
- Investment Focus Areas: Software, AI, fintech.
- Notable Investments: Facebook, Airbnb, Slack.
- Greylock Partners
- Details: Greylock Partners is a venture capital firm that invests in early-stage companies. Founded in 1965, it has a long history of backing successful startups.
- Investment Focus Areas: Consumer and enterprise software, technology.
- Notable Investments: LinkedIn, Dropbox, Airbnb.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on both private and public companies. It was founded in 2001 by Chase Coleman.
- Investment Focus Areas: Technology, consumer sectors.
- Notable Investments: Spotify, Stripe, ByteDance.
What's Next for Cresta?
With $125 million in Series D funding, Cresta is poised to expand its AI capabilities and global presence. The company plans to establish engineering hubs in Romania and India, enhancing its R&D efforts and introducing new products like the Cresta Voice Virtual Agent. This expansion opens significant opportunities in international markets, particularly in sectors requiring advanced AI communication solutions.
Future fundraising rounds seem likely as Cresta scales its technology and market reach. However, challenges such as integrating AI with existing systems and maintaining a balance between automation and human-centric approaches could arise. The company must navigate these hurdles to sustain its growth trajectory and capitalize on emerging industry trends.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like Cresta and gather other critical business insights. Sign up for free and elevate your sales strategy with the power of detailed, actionable information.
