Dania Beach-based IntelePeer raised $140 million in growth funding and debt financing to help businesses automate call centers.
The growth round was co-led by Savant Growth LLC and VantagePoint Capital Partners, and the debt financing was led by Vector Velocity, a subsidiary of Vector Capital.
IntelePeer reports it will use the capital to "reimagine" the call center customer experience with artificial intelligence and automation technology.
“We’ve successfully deployed many generative AI solutions for our customers," CEO Frank Fawzi said. "This funding will enable us to continue growing our AI Agent portfolio."
The company plans to invest in its product and development teams, and sales and marketing efforts.
IntelePeer created a self-service automation service for call centers using generative AI, a type of AI that can make images, text, videos and other new content. The company reports it has automated more than 600 million customer interactions for voice, messaging and digital channels.
Many call centers are adopting AI technology to manage customer interactions, said Nick Ghoussaini, head of credit at Vector Capital.
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"We look forward to leveraging our proven operating support and technology expertise to ensure IntelePeer is best positioned to capitalize on AI expansion opportunities," he said.
Generative AI has been a favorite sector for venture capital investors in recent years. San Francisco-based OpenAI, the maker of chatbot and virtual assistant ChatGPT, is one of the most prominent examples and helped launch the AI boom.
That excitement may be wearing off. According to PitchBook, seed funding for those startups has declined 76% since its peak in the third quarter of 2023.
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