Series A13 June 2023

EdgeTier raises €6m in Series A funding led by Smedvig Capital to expand its team.

The Dublin based artificial intelligence startup secured backing from Smedvig Capital, Episode 1, and Act Venture Capital.

€6.0MSeries A

≈ £5.1M at €1 = £0.8559 on 13 Jun 2023

Dublin based EdgeTier provides artificial intelligence software that analyses customer conversational data for contact centres.

Dublin based EdgeTier has secured €6m in a Series A funding round led by Smedvig Capital, with participation from Episode 1 and Act Venture Capital. The company provides artificial intelligence platforms that analyse conversational data for contact centres in real time.

The fresh capital will be used to expand the team from 22 to 70 employees across its Irish and Spanish offices over the next 24 months, with hiring focused on product development, commercial, and operations roles.

From the founder

"Companies will simply not be able to compete without AI and machine learning augmenting their ability to understand and support their customers at scale. We want to help more contact centres and customer experience professionals recover the missed insights in their conversations, react faster to changes, and have the data they need at their fingertips to make decisions. Over the fundraise, we’ve been really impressed with the Smedvig team; Joe and Maeve are already bringing great value to the business and I’m really excited to partner with them now on the journey ahead."

Shane Lynn

CEO and Co-founder at EdgeTier

Investor perspective

"We’ve been impressed with EdgeTier from day one. The company has achieved an extraordinary rate of growth on very little capital. The quality of its team is key to this; the founders have the AI expertise and commercial acumen needed to continue landing new clients and leading the way on product innovation. We’re at the beginning of a wave of AI-enabled improvements to customer service, and EdgeTier is well positioned to lead this category to become the de facto data solution for contact centres. The fact that EdgeTier has not lost a single customer to date and has an upsell rate of 150% is evidence that innovative and customer-centric brands are embracing the solution and unlocking tangible value from AI right now."