Omilia raises $67M to scale its customer support platform

The customer support landscape is currently undergoing a radical transformation, with a wave of startups like Sierra, Decagon, and Parloa racing to integrate artificial intelligence into automated voice, chat, and messaging services. However, Omilia, an Athens-based veteran in the space, argues that the industry’s current obsession with applying generative AI to every single task is both inefficient and unnecessary.

A Pragmatic Approach to Automation

Since its inception in 2002, Omilia has focused on the practicalities of voice and customer support automation. CEO Dimitris Vassos believes that many incoming support queries—such as checking account balances—are too simple to warrant the heavy computational power of large language models.

"We will use any available weapon to win the battle for customer service. Companies like Sierra, Decagon, etc. identify as generative AI companies. Their sole purpose is to deploy generative AI and limit themselves. You may have a bazooka, but if your enemy is near you, you need a knife. This is the reality of the contact center, where you need multiple tools."

Instead of chasing the latest AI trends, Omilia has prioritized building self-learning agents capable of operating across diverse customer touchpoints. This strategy has clearly resonated with investors, as the company just secured $67 million in Series B funding, led by Expedition Growth Capital.

Scaling Through Sustainable Growth

This latest injection of capital marks only the second time Omilia has raised external funding, following a $20 million round from Grafton Capital in 2020. The company’s growth trajectory has been impressive, with annual recurring revenue (ARR) surging 10x to reach $60 million over the last four years.

Vassos attributes this success to superior unit economics, which have allowed the company to scale without the massive, dilutive cash infusions often seen among its competitors.

• Current Client Base: Includes major financial institutions like Capital One, Discover, and RBC, as well as utility providers like PSEG.
• Strategic Focus: Expansion into the quick-service restaurant (QSR) sector, with Taco Bell already utilizing Omilia’s technology across more than 1,000 locations.
• Future Outlook: The company is currently in discussions with two additional major U.S.-based restaurant chains.

Addressing the "Hit or Miss" Reality

While AI in customer service is promising, it is not without its challenges. Reports previously surfaced regarding a technical glitch at a Taco Bell location that allegedly allowed a customer to order 18,000 cups of water. Vassos firmly disputes this, noting that Omilia’s internal logs show no evidence of such an event.

Despite the occasional headline-grabbing snafu, Omilia remains focused on long-term stability rather than short-term hype. "We don’t mind that we’re not as sexy as ElevenLabs and Sierra on LinkedIn right now," Vassos noted. "We care about growing steadily and building the foundations for a billion-dollar revenue company in the next three years."

Expansion Plans

With the new funding, Omilia intends to solidify its presence in the United States, which currently serves as a primary driver of its revenue. The company plans to:

1. Open a new U.S. office to better serve its growing North American client base. 2. Aggressively expand its go-to-market team, with active searches for a Chief Revenue Officer, Chief Marketing Officer, and a VP of Revenue Operations. 3. Scale its workforce, growing from its current staff of 500 to approximately 600 employees by the end of the year.