isLucid has completed its pre-seed funding round, marked by the latest addition to its modular Contact Centers (CC) AI platform. Investments from both current and new world-class investors signal the company’s maturity and the strong technological and business foundation it possesses to drive significant AI-led transformation in the $314BN Contact Centers industry.
The company's CEO, Vytenis Pakėnas, highlights that this latest funding round will support expansion in Scandinavian and other non-English-speaking markets: "Having the backing of exceptional investors like Jeremy Hitchcock and the successful founders of Dokobit and Tutotoons gives me confidence that the combination of funding and expertise will propel our growth trajectory."
"Contact centres serve as vital barometers of an organisation's customer experience. Their precision, coupled with the organisation's ability to interpret and act on their insights, can significantly influence business outcomes. This is why the tools developed by isLucid for companies in specific sectors and segments are invaluable in enabling timely and appropriate responses to shifts in consumer and customer behaviour. isLucid has already achieved sales in Lithuania, and we are excited to witness the continued growth of their success story," said Viktorija Trimbel, Director of Coinvest Capital, a venture capital fund that has invested €265,000 in the company across two phases.
isLucid has developed three flagship products centered on extracting insights from human conversation. The first product analyzes call recordings and emails, integrating data such as sentiment, churn signals, and reactions to product offerings into existing marketing and other operational pipelines. The second product acts as a "co-pilot" for support and sales agents during live calls, leveraging conversational data and contextual information. Meanwhile, the newly developed voice+email bot automates the most repetitive interactions using advanced AI capabilities.
"We had a bumpy round with a hard pivot last year, but the hands-on support from our previous investors— Business Angels Fund, Katalista Ventures, Agmis, and a group of dedicated angels—enabled us to survive a tough market environment and ultimately thrive. To fellow founders: stay focused, ask for peer support, and keep pushing forward—you will make it," shared Vytenis.
"We are committed to supporting founders who tackle significant and complex challenges. isLucid exemplifies this mission through its innovative approach and dedication to meaningful problem-solving. Their work aligns perfectly with our values and commitment to fostering impactful advancements," said Daiva Rakauskaite, Partner at Business Angels Fund.
The company has now secured funding for expansion and signed multiple multi-year contracts with enterprises in TelCo, Insurance, and other modern utilities sectors. The isLucid team has developed a solution capable of operating fully offline, addressing privacy and compliance requirements in highly regulated industries. In some cases, the company’s AI pipeline has proven to be up to 10 times more cost-effective than alternatives based on public cloud infrastructure.
About Coinvest Capital:
Coinvest Capital is an early-stage venture capital fund established by the national development bank ILTE. The fund invests EU and Republic of Lithuania public funds entrusted to it, alongside contributions from business angels and other venture capital funds, in promising start-ups that create value for Lithuania. The fund's portfolio now includes 37 start-ups, with €35.5 million invested. It offers a unique profit-sharing program, limiting its return on investment to between 4% and 8% per year. In the event of a successful sale of an investment, the fund distributes profits exceeding this limit to accredited private co-investors. Of the €44.3 million of committed capital held in trust for the fund, the available capital for new investments, following this transaction, amounts to €21.6 million.
For more information please visit: www.islucid.com
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