Bulgarian company Lace AI has raised $19mn in a seed funding round led by Luxembourgish Bek Ventures, the company announced on social media on April 23.
LAUNCHub Ventures and Horizon VC, as well as industry representatives including Snowflake’s co-founder Marcin Zukowski, Vivino’s founder Heini Zachariassen and Payhawk’s co-founder Hristo Borisov also participated in the seed funding.
Lace AI has created an artificial intelligence-based customer service solution tailored for companies in the home services sector, such as HVAC, plumbing and roofing firms. Their revenue intelligence platform leverages AI to review and interpret incoming customer calls, helping businesses identify and recover missed opportunities for generating income.
Mehmet Atici, managing partner at Bek Ventures, commented that the Lace team has combined enterprise software and AI expertise to create a product that allows clients to benefit from the advantages of best-in-class AI technology without having technical knowledge.
Lace AI was founded by Boris Valkov, an AI leader who has previously led foundational projects at Facebook AI.
“I’ve seen firsthand how elite AI technologies are often locked inside the walls of tech giants,” Valkov said, reported Tech.eu.
“We built Lace as the AI-native revenue intelligence platform purpose-built for the $650bn home services industry - a sector long overdue for transformation," said Valkov.
Last year, Lace posted 1,000% growth, becoming Bulgaria’s fastest growing startup.
