(Image source: Glia homepage.)
Glia (New York), a provider of digital customer service solutions to the insurance and financial services industries, has raised $45M in Series D funding led by New York based-global venture capital and private equity firm Insight Partners and joined by existing investor Wildcat Capital Management as well as new strategic investors, including RingCentral Ventures. This latest round of financing brings Glia’s total funding to $152M and its valuation to over $1 billion.
“There has been a notable shift in customer preference toward purchasing insurance policies online, highlighting the need for insurance companies to transform from a phone-first to digital-first approach to customer service,” comments Jeremy Smith, COO, Glia. “With the additional capital, we will further galvanize Digital Customer Service, providing insurance providers with the tools they need to meet customers in the digital domain, ultimately boosting efficiencies, improving the customer experience and creating loyalty that lasts.”
The additional capital will be heavily allocated toward research and development, helping fuel Glia’s proven decade-long commitment to ongoing innovation in Digital Customer Service, according to a Glia statement. The company says it plans to further invest in advanced AI, analytics, messaging, voice, and video capabilities. The firm says that the new capital will also aid in the acceleration of Glia’s geographic footprint.
“The future of customer service is digital, and those that have yet to take steps to modernize their support and engagement strategies are already behind,” comments Dan Michaeli, Co-Founder and CEO, Glia. “We’re thrilled by our investors’ confidence reflected in the round’s valuation, recognizing that we’ve only scratched the surface of what Glia can accomplish. Our rapid growth and successful relationships with financial services companies of all types demonstrates the urgent need for Digital Customer Service. As we build upon a decade of innovation, this capital will further extend our reach and help even more businesses across the globe reimagine how they connect with customers digitally.”
Seamless, Uninterrupted Experiences
“As enterprises digitize processes and services across the board, digital communication is inevitable, and Glia is leading the way in digitally transforming customer service,” says Lonne Jaffe, Managing Director, Insight Partners. “We’re investing more into the company because of its extraordinary growth and momentum and the enormous size of the market opportunity. Most people haven’t yet experienced first-hand the magic and power of Digital Customer Service as consumers, which stems from Glia’s proven ability to create seamless, uninterrupted experiences across CoBrowsing, voice, chat, and video. We’re excited to once again support Glia as they deepen their investment in R&D and continue to set the standard for Digital Customer Service across the globe.”