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- The latest funding will help Cresta double down on its existing product suite, scale its go-to-market efforts, and rapidly develop the next generation of virtual agents.

- This investment demonstrates QIA's efforts to support companies with potential to drive transformative change for industries and consumers.

- QIA joins venture capital firm World Innovation Lab (WiL) with participation from Accenture, EnvisionX, LG Ventures, Qualcomm, Workday Ventures in addition to other returning investors. ​

PALO ALTO, Calif., November 19, 2024 — QIA has invested in Cresta, the end-to-end generative AI platform for contact centers, who today announced the closing of its $125 million Series D round of financing. The round was led by new investors World Innovation Lab (WiL) and QIA with participation from Accenture, EnvisionX, LG Ventures, Qualcomm, Workday Ventures. The round also includes returning investors Andreessen Horowitz, Greylock Partners, J.P. Morgan, Sequoia Capital, and Tiger Global. This brings the company's total funding to over $270 million.

There is increased pressure in the contact center space to drastically drive down costs while improving customer loyalty and top-line revenue. Cresta provides a unified platform for human and AI agents that transforms customer conversations and workflows at every level of the contact center. With Cresta, customers can uncover real-time insights and behavioral best practices in order to scale winning behaviors across their human agents, while automating mundane tasks using virtual agents.

In the last two years, Cresta has nearly quadrupled its annual recurring revenue (ARR) and nearly doubled its customer base. Additionally, it will be rapidly scaling R&D, opening two new engineering hubs in Romania and India to add to existing offices in Palo Alto, San Francisco, New York, Berlin, and Toronto.

This investment demonstrates QIA's efforts to invest in innovative companies to scale, transform industries, and enter new markets.

“Cresta provides Fortune 500 companies like Intuit and CarMax with leading AI-powered technology that empowers them with clear competitive advantages," said Ping Wu, Chief Executive Officer at Cresta. “With this latest round of financing, we look forward to expanding our end-to-end AI platform to help dramatically reimagine how contact centers function and expand the use of human-centric AI to both augment human agents to make them more effective and save costs using human-like virtual agents."
 
The funding follows Cresta being named to the Forbes AI 50  List of Top Artificial Intelligence Companies of 2024, recognition in Forrester's Real Time Revenue Executions Platforms Q2 20224 Wave, and the announcement of several new, human-centric AI solutions for the contact center in early 2024.