- Regal.io recently announced it raised $38.5 million. These are the details.
Regal.io recently announced it raised $38.5 million.
Funding amount: $38.5 million
Funding round: Series A
Previous rounds: $3.6 million in seed funding
Total funding raised: $42.1 million
Investors: Led by Emergence Capital and existing investors Founder Collective and Homebrew also participated while being joined by Flex Capital, Inspired Capital, Operator Collective, and executives from sales and marketing companies including Braze, HubSpot, Salesforce, and Zoom.
New board member: As part of the fundraising, Jake Saper, General Partner at Emergence Capital, will join the board of directors.
Metrics: 100+ customers use Regal.io including Angi (formerly Angie’s List), Career Karma, Fidelity Life, RefiJet, Ro (parent company to Roman), SoFi and The Farmer’s Dog. Regal.io is aimed primarily at “high consideration” consumer businesses like healthcare, insurance, lending, local services, education, and subscription e-commerce, which represent more than half of the consumer economy.
In the 20 months since launch, Regal.io has grown to 80+ staff serving 100+ customers. And the company currently powers more than a million conversations a month, which drive over $50 million in monthly revenue for Regal.io’s customers. This success for customers has translated into 34% month-over-month revenue growth for Regal.io since its launch.
Funding plans: The company will use the new funds to continue to invest in its go-to-market and engineering teams.
Founding: Alex Levin and Rebecca Greene – who built a phone sales team at Angi on traditional omnichannel contact center software – founded Regal.io to build an entirely new tech stack for powering calls that would provide customers a better experience, and give brands the tools to drive more revenue though this critical channel.
“Every digital brand uses a stack of one-way marketing automation tools to try and re-market to ‘abandoned’ customers, and they are seeing diminishing returns in those one-way channels. The key to higher conversion is conversations. Regal.io’s solution leverages event-driven customer engagement to drive a conversation with a knowledgeable human at key moments — it’s the personal touch for the digital marketing age.”
— Alex Levin, Regal.io Co-Founder and CEO
“Regal has helped our teams massively increase revenue from customers via branded, personalized call and text message outreach – all features that our existing customer service contact center software didn’t have.”
— Oisin Hanrahan, Angi CEO and an investor in Regal.io
“After seeing Regal increase our answer rates on outbound phone sales and getting great feedback about the branded calls, we were able to leverage Regal to quickly scale up a phone sales program as we continue to grow our business.”
— SoFi’s VP of Performance Marketing Kevin Heung
“Regal.io has incredible founder-market fit. It’s rare to find a team that has experience leading large, complex call centers and has also worked on modern, data-driven, performance marketing and sales teams. Regal also has amongst the strongest product-market fit we’ve ever seen, a core reason why it’s growing faster than even Zoom did at a similar stage.”
— Jake Saper, General Partner at Emergence Capital
“I am impressed with how fast Regal.io came out of the gate. Regal has an enormous opportunity in front of them, and they are executing flawlessly.”
— Satya Patel, a General Partner at investor Homebrew
“Regal.io is filling a critical market need, and most impressively, I’ve heard rave reviews from our other portfolio companies that have become Regal power users.”
— David Frankel, Managing Partner at investor Founder Collective