Atlanta-based CallRail has raised $75 million USD in a round co-led by Sageview Capital and Toronto-based Leaders Fund.
The company plans to use the funding for further product development. CallRail provides call analytics to 65,000 companies and marketing agencies across North America. The platform allows marketers to optimize the performance of advertising campaigns, increase sales effectiveness, and improve customer retention through attribution and analytics. CallScore, one of the company’s products, classifies the lead quality of a call based on transcription and metadata.
CallRail chose the Toronto-based fund to co-lead in order to take advantage of the burgeoning AI talent in the city; its call transcription service relies on the company’s AI system, so having a closer connection to the Toronto ecosystem made sense.
“We are excited to work with Steve and the Leaders Fund team in Atlanta and Toronto. Their depth of experience in scaling global software companies will help us grow faster,” said Andy Powell, CEO of CallRail. “With the exponential explosion in the volume of phone call data that CallRail manages and analyzes, we expect to draw upon the AI expertise in Toronto to bolster our intelligent call monitoring features. These capabilities will provide our clients with the insights they need to understand their customer interactions at scale, and continuously improve through the power of machine learning. Expanding our reach further into Canada is a definite plus too.”
Leaders Fund, which has an office in Atlanta, said that it’s happy to have access to two “underappreciated” tech markets.
“The two cities combine to provide amazing depth in the areas of enterprise software, artificial intelligence, and sales/marketing,” said Stephen DeBacco, managing partner of Leaders Fund. “Furthermore, in Atlanta, there are a rich set of large influential customers in finance, professional services, consumer goods and manufacturing that our tech companies can sell to, helping to accelerate their growth. We look forward to working with Andy and the CallRail team as they continue their phenomenal growth.”
CallRail is one of several companies racing to attract Canadian talent, and joins the ranks of Facebook, Samsung, and Google in this endeavour.