Omilia, an Athens-based company specialising in customer support automation, has raised $67 million in a Series B funding round. Expedition Growth Capital led the investment.
This marks Omilia's second fundraising effort, following a $20 million raise from Grafton Capital in 2020. Since then, the company has reportedly increased its annual recurring revenue by ten times, reaching $60 million.
Dimitris Vassos, Omilia's CEO, stated that the company will use the new funds to open an office in the U.S., a market that contributes a significant portion of its revenue. Omilia also plans to bolster its go-to-market team, with new hires including a chief revenue officer, chief marketing officer, and a VP of revenue operations. The company, which currently employs around 500 people, expects its headcount to reach 600 by the end of the year.
Vassos noted that Omilia's approach to customer support automation, which has been in development since 2002, focuses on deploying various tools rather than exclusively relying on large language models for all tasks. He highlighted that many customer queries involve basic information, where advanced AI may not be necessary. Omilia's clients include Capital One, Discover, RBC, DWP, PSEG, and Taco Bell, where its technology is deployed across over 1,000 outlets for voice-based ordering.