SAN FRANCISCO, May 13, 2020 /PRNewswire/ - Espresso Capital announced today that it has provided Inference Solutions, a global provider of Intelligent Virtual Agents, with a US$8 million credit facility. The San Francisco-based company will use the capital to achieve key milestones prior to initiating another fundraise later this year.
"We're delighted to be using venture debt from Espresso to help fund our growth as we continue to scale and expand market share," says Inference CEO Callan Schebella. "Espresso's funding gives us the working capital we need to execute on our plan and reach the operational and financial milestones we've set for the company to position us for our next capital raise."
Founded in 2011, Inference provides its Intelligent Virtual Agents to sales and service organizations to automate routine and repetitive conversations typically handled by live agents over voice, chat, and messaging. The company's mission is to democratize the conversational AI technologies that are increasingly being used at large enterprises and government agencies. The company was recently recognized as the intelligent virtual agent global market share leader by DMG Consulting.
"We're excited to partner with Callan and his team at Inference," says Will Hutchins, Managing Director at Espresso Capital. "Their continued growth and position as a market leader in this growing segment reflects their success in helping clients deliver measurably better customer experiences."
Inference is backed by San Francisco-based PeakSpan Capital who led the company's $12 million Series A round in 2018. "We've worked with Espresso before and liked their flexible approach to funding fast-growing companies. The team has a deep understanding of what it takes to scale and build successful companies and knows how to structure their debt facilities to best support that growth," says Phil Dur, Co-Founder and Managing Partner at PeakSpan.
For Schebella and his team, the experience working with Espresso has been a great one so far. "Not only did Espresso come highly recommended from our board, they are also truly unique," he says. "They had the most favorable terms, are highly responsive and easy to work with, and gave us a level of optionality that simply doesn't exist anywhere else."
About Espresso Capital
Espresso Capital provides non-dilutive growth capital and bridge financing solutions to leading North American companies in technology, healthcare, and other high-growth verticals. Since 2009, we've partnered with more than 260 companies and their investors to accelerate growth, extend the funding runway, reduce cost of capital, and minimize dilution. Learn more at www.espressocapital.com.
About Inference Solutions
Inference Solutions is a global provider of Intelligent Virtual Agents that enables businesses to leverage the latest Conversational AI technology with unmatched choice and flexibility. More than 550 organizations across every vertical use Inference's code-free platform to rapidly design and deploy advanced self-service applications over voice, chat and messaging. Inference is resold through leading telecommunications carriers, Unified Communications and Contact Center providers, and is the trusted choice for dozens of service providers seeking to drive more revenue and differentiate themselves with value-added-services. For more information, visit www.inferencesolutions.com/.
About PeakSpan Capital
PeakSpan Capital is a growth equity firm focused exclusively on growth stage, B2B/enterprise software companies. The firm invests in companies that serve the full spectrum of buyers from small businesses to large enterprises. It is PeakSpan Capital's ambition to be true domain experts and thought partners in the categories that inspire them. All of its research, network development, and learning are focused on the sectors their entrepreneurs live in. As a result, PeakSpan Capital brings a rich portfolio of assets to the table that are relevant to all of the companies with whom it partners. PeakSpan Capital prides itself on a collaborative approach to working with entrepreneurs and other stakeholders.
SOURCE Espresso Capital