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Software firm Balto raises $10 million and expects to double its staff

Software firm Balto raises $10 million and expects to double its staff

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Balto, a St. Louis firm with software that helps call centers coach their employees, has raised $10 million from investors led by Silicon Valley firm Sierra Ventures.

Chief Executive Marc Bernstein said the funding will enable the firm to add more features to its software, which uses artificial intelligence to provide instant feedback to call-center employees and their bosses.

By analyzing a conversation in real time, the software coaches the employee on what to say while the customer is still on the line. The result is fewer misunderstandings and better odds of closing a sale.

Bernstein also said Balto plans to expand its staff from 45 people to more than 100 by next year.

Other investors in the venture-capital round include Jump Capital and OCA Ventures, both of Chicago, and Cultivation Capital of St. Louis.

Balto had previously raised $4.2 million in two seed-capital rounds. It also won a $50,000 Arch Grant in 2018.

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