Omilia Raises $67 Million to Expand AI Customer Support Platform

Athens-based customer support software company Omilia has raised $67 million in a Series B funding round led by Expedition Growth Capital as it looks to expand its AI-powered customer service platform and strengthen its presence in the United States.

The funding marks Omilia’s second institutional investment after raising $20 million from Grafton Capital in 2020. Since then, the company says it has increased its annual recurring revenue tenfold to approximately $60 million while continuing to build voice and customer service automation technology.

Founded in 2002, Omilia has focused on automating customer support long before the recent surge of generative AI startups. Chief Executive Officer Dimitris Vassos argues that relying exclusively on large language models for every customer interaction is inefficient because many support requests involve straightforward tasks such as checking account balances or retrieving simple information.

Combining AI tools instead of relying on one model

Rather than depending solely on generative AI, Omilia has developed self-learning agents that operate across multiple customer support channels, including voice calls, messaging and chat. Vassos said the company believes customer service requires different technologies for different situations instead of applying a single AI model to every request.

He also said Omilia has focused on maintaining strong unit economics for both the company and its customers, allowing it to grow without raising the large amounts of capital seen at many competing AI startups.

Growing customer base and revenue

Omilia’s customer list includes Capital One, Discover, RBC, DWP and PSEG. The company has also expanded into quick-service restaurants, where its voice-ordering technology is deployed in more than 1,000 Taco Bell locations. Vassos disputed reports that the platform had mistakenly accepted an order for 18,000 cups of water, saying the incident did not appear in the company’s system logs.

The company said it is also in discussions with two additional quick-service restaurant chains in the United States as demand for AI-powered ordering systems continues to grow.

Funding to support U.S. expansion

Omilia plans to use the new funding to open another office in the United States, which already accounts for a significant share of its revenue. The investment will also support expansion of its go-to-market operations, including hiring a chief revenue officer, chief marketing officer and vice president of revenue operations.

The company currently employs around 500 people and expects its workforce to grow to approximately 600 employees before the end of the year.