Analysis
Omilia, a Larnaca, Cyprus-based conversational AI company with a delivery center in Athens, raised a $67 million Series B led by Expedition Growth Capital, according to TechCrunch. It's the company's second-ever funding round, following a $20 million raise from Grafton Capital in 2020, and Omilia says annual recurring revenue has grown tenfold since then to $60 million.
The company builds self-learning voice and chat agents that work across a business's different customer-contact points -- phone, chat, email -- for large enterprise customer-service operations, competing against a crowded field that includes NICE, Genesys and a wave of newer AI-native customer-support startups. Omilia plans to use the funding to open a new US office, expand its go-to-market team, and hire a chief revenue officer, chief marketing officer and VP of revenue operations -- a classic post-Series-B scale-up hiring list rather than a product pivot. Headcount currently sits around 500 and is expected to reach 600 by year-end.
“Headcount currently sits around 500 and is expected to reach 600 by year-end.”
A tenfold ARR jump off an undisclosed 2020 base is a real growth signal, but it's also a number without a denominator -- Omilia hasn't disclosed what its ARR was before the multiple, which matters for judging whether $60 million today reflects genuine scale or a small base compounding off two AI-adoption years in enterprise customer service.