Startups & Funding
Omilia raises $67M to scale its customer support platform
Athens-based Omilia raised a $67 million Series B led by Expedition Growth Capital, after growing annual recurring revenue 10x to $60 million since its last round.
The customer support industry has seen a wave of startups — Sierra, Decagon, and Parloa among them — trying to infuse AI into automating customer calls, chat, and messages at scale. But Omilia, which has been automating voice calls and customer support from Athens since 2002, argues that throwing AI at every process can be wasteful. CEO Dimitris Vassos says a large share of incoming customer support queries involve basic information, like account balances, where there’s little need to deploy 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,” he said.
Omilia has expanded into building self-learning agents that work across different customer contact points, and has now raised a $67 million Series B led by Expedition Growth Capital — its second raise, after $20 million from Grafton Capital in 2020. Since then, annual recurring revenue has grown 10x to $60 million. Vassos says the company’s differentiation lies in strong unit economics for itself and its customers, which he says has let it avoid the large cash infusions many competitors have needed.
Omilia’s clients include Capital One, Discover, RBC, DWP, and PSEG, and Vassos said quick-service restaurants adopting voice-based ordering are now a big focus; the company already counts Taco Bell as a client, with its tech deployed across more than 1,000 outlets, and is in talks with two more U.S. chains. A report last year claimed a glitch in Taco Bell’s ordering system let a customer order 18,000 cups of water; Vassos maintains that incident never happened and says Omilia’s own logs show no record of it.
The fresh funding will go toward opening a U.S. office — a market that accounts for a significant share of Omilia’s revenue — building out its go-to-market team, and hiring a chief revenue officer, chief marketing officer, and VP of revenue operations. The company has around 500 employees and expects headcount to reach 600 by the end of the year.
Why it matters
Omilia is betting that disciplined unit economics and a multi-tool approach, rather than an all-generative-AI pitch, is what wins long-term in a customer-support market crowded with heavily funded rivals.