Olin alum’s firm, Balto, closes $10M in funding

  • February 8, 2021
  • By WashU Olin Business School
  • 1 minute read

Balto, a firm founded by Marc Bernstein, BSBA ’15, raised $10 million to fund the use of artificial intelligence software in employee training.

Artificial intelligence is one of the most exciting areas of modern technological innovation. We all know about AI capabilities through the increasing presence of Alexa, Siri and Cortana in our homes. Bernstein wants to carry the efficiency and innovation of artificial intelligence into the world of employee training.

Bernstein’s fledgling firm, Balto, raised the additional funding in October to fund improvements in its software, which uses artificial intelligence in order to assist call-center employees. The Balto software provides call center employees and their bosses with instant feedback, all generated with the power of artificial intelligence. Balto’s AI is able to analyze a conversation in real time and coach employees on what to say, all while a customer is on the line.

Bernstein has plans to use its newfound funds beyond just software improvement. So far, Balto has plans to expand its staff to more than 100 employees by the end of 2021. The firm now has a total of 12 investors and $14.3 million in funding, and faces exciting possibilities for growth and innovation over the next year.

Pictured at top: Marc Bernstein (left) and Chris Kontes are co-founders of Balto. (photo via Balto).

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