Waterford start-up Klearcom raises €1.5m to dial in on AI

10 Mar 2023

From left: Liam Dunne, Satish Barot, Colm O'Sullivan and Mark Rohan. Image: Klearcom

On track to grow to a team of 50 by the end of 2024, Klearcom also expects revenues to double this year.

Klearcom, a start-up that tests voicebots used in customer service, has raised €1.5m in its latest funding round to double down on the use of AI and machine learning in its offerings.

Based in Waterford, Klearcom helps businesses manage incoming calls by testing interactive voice response (IVR) systems. The technology is especially useful for teams with constrained budgets that are looking to manage and filter large volumes of calls without losing customers.

Liam Dunne, co-founder and CEO at Klearcom, said that the IVR market is growing rapidly in response to enterprises expanding their customer care and sales teams.

“At the same time, they are having to deal with constrained budgets coupled with high competition for customers, putting greater pressure on them to ensure call centres are operational and reachable 100pc of the time,” Dunne said.

“This has increased the demand for Klearcom’s services and we expect continued significant growth in our customer numbers and revenues for the foreseeable future.”

The latest funding was led by Furthr VC and received contributions from Enterprise Ireland and HBAN’s Bloom Equity syndicate. Klearcom will use the investment to advance product development at its Waterford base – with a focus on the application of AI in its services.

Klearcom is also on track to grow to a team of 50 by the end of next year and expects its revenues to more than double this year. Additions will be made to the start-up’s technical, marketing and sales teams between Waterford and the US.

“The market opportunity for us is getting broader and wider and this investment will help us to develop more cutting-edge technologies and solutions, which are market-firsts and will set us apart from the competition,” Dunne added.

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Vish Gain is a journalist with Silicon Republic