Total amount raised
$30 Millions
Latest funding date
January, 2022
Location
Flip has successfully raised significant funding over multiple rounds, positioning itself as a key player in the Voice AI industry. The platform offers advanced automation for customer support calls, catering to retail eCommerce, transportation, and healthcare brands.
Keep reading to delve into the details of Flip's fundraising journey and discover the investors who are backing this innovative platform.
What Is Flip?
Flip CX, Inc. is a software company that offers Voice AI solutions to automate customer service calls. Founded in New York, the company aims to replace traditional IVR systems with a more modern, efficient, and personalized experience.
Although the exact founding year and the names of the founders are not explicitly mentioned, Flip CX has established itself as a key player in the Voice AI industry. The company is located at 228 Park Ave S, Unit 93184, New York, NY 10003.
Flip CX's innovative approach has attracted a growing team, although the specific number of employees is not detailed. The company continues to expand its reach, providing advanced automation for retail eCommerce, transportation, and healthcare brands.
How Much Funding Has Flip Raised?
- Seed Round
- Amount Raised: $6.8M
- Date: October 2019
- Lead Investors: TLV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their Voice AI technology and establish initial market presence.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2020
- Lead Investors: Streamlined Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their technology and expand their team.
- Series A
- Amount Raised: $28M
- Date: August 2021
- Lead Investors: Streamlined Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance their AI capabilities.
- Series B
- Amount Raised: $60M
- Date: July 2022
- Lead Investors: WestCap
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new markets and improve customer support automation.
- Series C
- Amount Raised: $144M
- Date: April 2024
- Lead Investors: Streamlined Ventures
- Valuation at Round: $1.05 billion
- Motivation Behind the Round: To challenge major platforms and integrate AI-powered advertising.
Total Amount Raised: $238.8M. Current Valuation: $1.05 billion.
Key Investors
- Streamlined Ventures
- Details: Streamlined Ventures is a venture capital firm that focuses on early-stage technology companies. They have been a consistent investor in Flip, leading multiple funding rounds.
- Investment Focus Areas: Technology, AI, SaaS.
- Notable Investments: Not publicly disclosed.
- WestCap
- Details: WestCap is a growth equity firm that invests in technology-driven companies. They led Flip's Series B funding round.
- Investment Focus Areas: Fintech, eCommerce, SaaS.
- Notable Investments: Airbnb, StubHub, Hopper.
- TLV Partners
- Details: TLV Partners is an Israeli venture capital firm that invests in early-stage technology startups. They were the lead investors in Flip's initial seed round.
- Investment Focus Areas: Cybersecurity, AI, Enterprise Software.
- Notable Investments: Next Insurance, Aqua Security, Snyk.
- AppLovin Corp.
- Details: AppLovin is a technology company that provides marketing and monetization services for mobile apps. They invested $50 million in Flip's Series C funding round.
- Investment Focus Areas: Mobile advertising, App monetization, AI.
- Notable Investments: Machine Zone, PeopleFun, Belka Games.
What's Next for Flip?
Flip is poised to capitalize on the burgeoning social commerce market, leveraging user-generated video reviews to compete with giants like Amazon and TikTok. The integration of AppLovin’s AI technology offers a significant opportunity to enhance advertising capabilities, potentially reaching millions of users and driving substantial growth.
With a recent $144 million funding round, Flip is well-positioned for future fundraising, attracting high-profile investors eager to support its innovative approach. However, the company faces challenges such as intense competition and the need to maintain the authenticity of user-generated content. Successfully navigating these hurdles will be crucial for Flip's continued expansion and market dominance.
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