AAA Luminoso translates series A1 interest into funding

Luminoso translates series A1 interest into funding

Luminoso, a US-based call centre analytics technology developer backed by internet company Digital Garage, has closed a $12.6m series A1 round.

The round was co-led by financial services and investment group Raptor and SD Porter Holdings, and consisted of $11.8m in funding and convertible debt financing, plus a further $800,000 in equity due to be issued later this month.

Luminoso has developed software that uses natural language processing to provide automated customer service functions in 13 different languages, with a 14th, Indonesian, due to launch later this year.

The service can be used to assess a consumer’s spoken words and classify their enquiries to find an appropriate automated response or enhance the performance of conversational search enquiries on e-commerce platforms.

The funding will go towards a recruitment push as the company looks to boost customer demand.

Luminoso has now raised a total of almost $21m in funding, $6.5m having come in a 2014 series A round led by Acadia Woods that included Digital Garage, which followed $1.5m secured from undisclosed investors the previous year.

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