St. Louis AI software startup raises $3M, plans to double workforce



St. Louis-based artificial intelligence software startup Balto has raised an additional $3 million in seed funding.

The new financing follows $1.2 million raised by the startup in 2018. Stage Venture Partners and OCA Ventures have co-led the financing. New investors in the $3 million round include St. Louis-based Cultivation Capital and Jump Capital of Chicago. Other investors in Balto include TIA Ventures, Venture for America Seed Fund, SaaS Ventures, Harbor Street Ventures, Sandalphon Capital, Arch Grants, Blackstone Group Chief Technology Officer Bill Murphy and entrepreneur Miles Lasater.

Founded in January 2017, Balto has developed artificial intelligence software that can transcribe and analyze sales and customer service calls in the moment and delivers live recommendations to representatives while they are on their calls. The company was co-founded by Marc Bernstein, Davidson Girard and Chris Kontes.

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Published by Nathan Rubbelke / St. Louis Business Journal
September 26, 2019