(NEW YORK)–Slang.ai, a New York City-based AI-powered phone answering product, announced $20 million Series A funding round to accelerate the development of its generative AI capabilities.
The Series A funding was led by venture capital firm Homebrew and saw participation from several prominent investors including Stage 2 Capital, Wing VC, Underscore VC, Active Capital, and Collide Capital.
Founded in 2013 by Hunter Walk and Satya Patel, Homebrew is a prominent venture capital firm based in San Francisco, California focuses on early-stage investments in technology startups. The firm’s name is inspired by the idea of crafting and nurturing startups, similar to the way a homebrewer creates and refines their own beer.
Notably, the round also attracted industry angel investors such as celebrity chef Tom Colicchio and Scott Belsky, the Founder of Behance. Existing investors, including executives from Snap, Zoom, and other technology businesses, also joined the funding round.
Tom Bustamante, the Founder & CEO of AI Venturetech commented, “This recent funding round and the support of prominent venture firms positions Slang.ai well to further revolutionize the phone answering industry and solidify its position as a key player in the AI-powered customer service market.”
The injection of capital will enable Slang.ai to accelerate the development of its product partnerships, and pursue integrations in key industries such as restaurants, hospitality, retail, and e-commerce. Additionally, the company plans to focus on expanding its go-to-market team to support its sustained growth.
Under the leadership of CEO Alex Sambvani, Slang.ai offers a revolutionary solution for restaurants, retailers, and other businesses by harnessing the power of AI to answer phone calls. This innovative technology functions as a virtual team member, providing real-time responses that help drive revenue, minimize staff distraction, and enhance customer satisfaction.
Slang.ai platform offers AI-powered phone agents specifically tailored for restaurants and retail businesses. Leveraging advanced natural language processing technology, the platform automates reservations, order processing, and addresses a wide range of common customer queries through engaging audio experiences.
The company has gained impressive traction, boasting a customer base of over 200 businesses. Among its notable clients are renowned establishments such as Slutty Vegan, Palm House Hospitality Group, STUDS, PLANTA, Hammitt, and Nikki Beach Miami.
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About AI Venturetech
AI Venturetech, Inc. is a New York-based consulting firm specializing in the cutting-edge technology fields of artificial intelligence, quantum computing, and cybersecurity. We are dedicated to providing innovative investment and consulting opportunities for clients looking to capitalize on the growth of these rapidly evolving industries. Our team of experts has a deep understanding of the technology landscape, market trends. www.aiventuretech.com
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