Slovak cloud phone services startup attracts millions in investment

CloudTalk plans to expand its operation and hire new people in Slovakia.

Illustrative stock photoIllustrative stock photo (Source: Unsplash)

A new Slovak telecommunications start-up has received an investment of €6 million.

The startup, CloudTalk, focuses on solutions for call centres, where high-quality calls, automated business processes and system configuration are all necessary, the Aktuality.sk reported.

The start-up is the first Slovak company to receive investment from the respective Dutch and German funds, henQ and Point Nine Capital.

This is the second major investment in the company after an initial seed investment of 1.3 million euros from Presto Ventures in 2019.

The company currently employs a team of 60 in Bratislava and Prague and has plans to double its size. These new investments will allow the team to hire 50 more members of staff in Slovakia, chiefly researchers, product managers and IT specialists.

The new staff will work on improving the quality of the services and they will also take part in the new CloudTalk Innovation Lab aimed at implementing AI solutions for call centres.

“We started with a few people who were fascinated by the idea of being able to make phone calls via the cloud,” Martin Malych told Aktuality.sk.

Malych explained that their long-term goal is to expand the company threefold and to integrate their technology with more services.

Cloud phone solutions sought during pandemic

CloudTalk was founded by Slovaks Martin Malych and Viktor Vanek in 2018 as a simple app for placing phone calls via a web browser. Shortly after launch, they noticed a demand for more complex telecommunications solutions from bigger companies.

Thus, in 2019 they decided to accept a seed investment from the Czech fund Presto Ventures, which helped them expand into foreign markets. Currently, the company offers cloud phone solutions for small and medium-sized modern companies in 80 countries around the globe. In Slovakia, their services are used by Profesia.sk and DHL.

With the latest investment, CloudTalk plans to invest in increasing the quality of its services and wants to create its own innovation lab focused on the use of AI solutions in call centre environments.

Instead of relying on other companies, CloudTalk built up its own infrastructure on cloud servers. This allows them to better control the quality of calls and other services they provide.

The advantages of cloud technology became apparent at the beginning of the Covid-19 pandemic, when CloudTalk’s clients managed to effectively transition into a home-office framework, while companies that used standard telecommunications solutions faced greater challenges.

An advantage was their simple connection to CRM software and helpdesk. Thanks to the technology, teams of sellers and customer service workers have a constant overview of their clients.

This way, connections made by CloudTalk can save between two to three minutes of call time.

CloudTalk offers solutions for small and medium-sized companies that have call centre capacities ranging from 10 up to 3,000 users.

The market value of CloudTalk has multiplied eight-fold since their seed investment and the company has set ambitious goals for 2021, though according to the co-founder of the company, Viktor Vanek, planning for 2021 was surprisingly easy.

“We defined key activities which will bring us growth, and we’ll be expanding what has worked well for us so far,” Vanek said, as quoted by Aktuality.sk.

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