The Arch Grants Global Startup Competition awards $50,000 and development to scalable startups based in St. Louis. Balto Software follows its initial venture capital raise of $1.2 million with an impressive win as the 2018 Arch Grants recipient.
ST. LOUIS, MO, November 20, 2018 /24-7PressRelease/ — Tech startups in the Midwest usually don’t attract major investor attention, but one company is breaking the mold. Balto Software recently completed its initial round of venture capital funding, and then quickly went on to win the Arch Grants Global Startup Competition. Balto’s flagship offering, an AI that provides live call guidance to company agents, is seen to be the major reason behind that success.
Marc Bernstein, CEO of Balto, believes the Arch Grants award is an indicator of the changing face of commercial AI. “Balto gently guides agents and in the process enables them to grow and self-actualize their potential. This leads to significant increases in revenue, while at the same time providing a human-centric approach that successfully energizes a company’s workforce.”
The venture capital world agrees with that assessment. Stage Venture Partners led Balto’s funding round, and General Partner Alex Rubalcava stated that Balto’s success is due to tapping into a market need. “Companies cannot afford even a single negative customer experience. Balto enables every agent representing your company on the phone to communicate at the level of your most experienced, productive rep.”
Another notable element of Balto’s fundraising success is the fact that the company is already achieving market share. Most tech companies spend at least a few years in development and then make a small launch into the commercial sphere. Balto has been able to take advantage of an aggressive development and management team to fast-track the software and bring it live for business use.
Chris Kontes, COO of Balto, feels that this successful deployment has been Balto’s most effective marketing. “The universe of contact centers is a big one but it’s tight-knit. Balto’s success within its growing client base is common knowledge in the industry at large, and we are currently finalizing the roadmap that will turn that word-of-mouth into a sustainable industry leader.”
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