Accenture participated in Cresta's $125 million Series D funding round. This round was led by new investors World Innovation Lab (WiL) and QIA, with participation from other notable investors like EnvisionX Capital, LG Technology Ventures, Qualcomm Ventures, and Workday Ventures.
Returning investors included Andreessen Horowitz, Greylock Partners, J.P. Morgan, Sequoia Capital, and Tiger Global.
This investment is part of Accenture's strategy to integrate Cresta's AI capabilities into its AI Refinery™ platform, which helps clients build custom AI models tailored to their unique business needs.
Cresta's solutions integrate with existing systems, both on-premise and in the cloud, enabling seamless AI-driven business transformation[
"Cresta's innovative solutions have the potential to revolutionize the contact center industry by equipping customer service teams with tools they need to provide more effective customer service," said Lan Guan, chief AI officer at Accenture. "The combination of Accenture’s AI Refinery™️ platform and Cresta’s AI solutions will allow us to offer our clients enhanced tools that drive productivity by automating routine tasks, offering real-time guidance to agents, and generating tailored customer interactions.”
"Generative AI is transforming the way we interact with customers, creating intelligent experiences that not only meet but anticipate needs,” said Baiju Shah, global chief strategy officer at Accenture Song. “Customer sales and service is evolving rapidly and Cresta is at the forefront. This investment underscores our commitment to leveraging AI to drive growth and innovation, raising the bar for customer service strategies that reduce operational costs and improve customer experience."
The 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 brings Cresta's total funding to over $270 million.
Headquartered in Palo Alto, California, US, Cresta was founded in 2017 by Zayd Enam, Tim Shi, and Sebastian Thrun, with the vision of using AI to help people learn high-value skills and make businesses more productive.
Ping Wu, CEO, Cresta. said, "Cresta and Accenture have a shared vision for the future of AI-powered customer interactions. This investment enables us to tap into Accenture's deep industry expertise and global reach, accelerating our growth and innovation while empowering more businesses to enhance efficiency, boost customer satisfaction, and create a sustainable competitive advantage through the power of AI."
Last month, Cresta announced Voice Virtual Agent, a powerful, autonomous solution that’s built in a hybrid approach: combining advanced LLMs with deterministic systems to transform the customer experience. This all-in-one solution delivers 24/7 personalized and empathetic experiences, effortlessly managing complex, multi-step workflows – all while seamlessly collaborating with human agents.
Generative AI is transforming contact centers by enhancing efficiency, productivity, and customer satisfaction. AI can generate automated responses for common customer inquiries, reducing the workload on human agents. AI-powered virtual agents can handle routine tasks and customer interactions, allowing human agents to focus on more complex issues.
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