January 4, 2019, Budapest, Hungary – Talk-A-Bot, the Hungarian based chatbot startup, secured a two million Euro investment from DayOne Capital and PortfoLion Ventures to develop enterprise chatbots and to expand its business to Central Europe and Southeast Asia. The investment follows Talk-A-Bot’s participation in the Rakuten Accelerator powered by Techstars program.
The 2 million Euro investment from DayOne and PortfoLion Ventures, Talk-A-Bot aims to further develop market-leading chatbot solutions and to strengthen its business expansion from Singapore to reach the larger Southeast Asia region.
“Market demand for a two-way communication tool that can be used for interacting in both individual and mass level is rapidly growing, said Ákos Deliága, Co-Founder of Talk-A-Bot. “As companies in emerging markets such as Central Europe and Southeast Asia are in the hunt for innovative solutions to raise their competitiveness, Talk-A-Bot offers well-targeted use cases based on cutting-edge AI components. We managed to grow from zero in the last two and half years based only on real market demand and client revenues. This investment gives us a chance to grow faster and innovate forward-thinking, market-leading new products.”
The other main market for Talk-A-Bot is Central Europe where the company already collaborates with international brands like Erste Bank, Heineken, Bosch and Nestlé. There is a big demand for excellent chatbots although very few companies are able to meet the needs of major enterprises. In the next two years, Talk-A-Bot plans to start operations in key target markets including Poland, Czech Republic, Germany, and the Netherlands.
“We are very excited by this opportunity, by the technology and the team Talk-a-bot has brought together that will make them the opportunity to be reckoned not only in the CEE region but worldwide also,” said Jenő Nieder, Deputy CEO of PortfoLion Ventures.
“In the coming years businesses will seek dedicated platforms to empower and track automated AI-powered customer experience and enterprise communication,” said Csaba Kákosy, Managing Partner at Day One Capital. “Talk-a-Bot’s strong technology and forward-looking strategy positions them well to become one of the key players in this market.”
Among Talk-A-Bot’s clients are Central Europe’s largest commercial banks as well as utility providers, manufacturers, and media companies. The key values of AI-based engagement tools are increased employee and customer engagement through consistent responses and proactive interactions with less pressure on staff resources. Communication between brands and their customers should be as personal and direct as talking to friends and family – Talk-A-Bot designs chatbots that fulfill this vision.
With chatbots in high demand, these AI-based messaging software solutions are attracting strong interest from companies that are exploring new and innovate solutions for customer care, sales, marketing and automation of internal communication with employees.
After the strong interest during 2016, the chatbots market is now focusing on developing tools for users with tangible business efficiency. According to data from Facebook IQ, the activity of chatbots discussion in a period from January 2017 to January 2018 grew 5.6 times. Corporations that seek efficient ways of communication with their stakeholder groups are now realizing the benefits and potential of reachable digital tools such as chatbot.
“The key values of these AI-based tools are increased employee or customer engagement” – Talk-A-Bot designs chatbots that fulfill this vision.
Talk-A-bot was launched with the assistance of the iLab programme run by the Central European University in Hungary. It is also a Preferred Enabling Partner of Rakuten Viber. Its uniqueness originates from the framework’s flexibility to be seamlessly integrated with different enterprise systems, support for more than 100 languages and GDPR compliance.
The company’s first standardized product, Cheq was demonstrated during October 2018 at the Rakuten Accelerator powered Techstars Demo Day in Singapore. Cheq, developed to operate on the Rakuten Viber voice and messenger platform, is an innovative internal communications tool that bridges the communication gap between contract workers, employees and employer by utilizing social chat in a secure way.
Talk-A-Bot has increased its revenues by 400% in the last two years and has plans in the pipeline to develop 2-3 more standardized products besides Cheq.
Talk-A-Bot is an enterprise chatbot provider headquartered in Budapest, Hungary founded in 2016 to provide chatbot solutions for corporate clients and major brands. Despite chatbot being a relatively new communication tool Talk-A-Bot already has 20+ prestigious clients and is used by over 2 million users internationally.
About Day One Capital
Day One Capital is a leading early-stage venture capital firm based in Budapest, managing 3 early-stage funds focusing on technology startups with exceptional founders who strive for global ambitions. Founded in 2011, over its 8-year operation it has built a portfolio across Central Eastern Europe in the autonomous driving, SaaS, medical technology and robotics verticals among others.
PortfoLion is the private equity and venture capital arm of OTP Group, Hungary’s largest banking corporation. Through its funding it partners with companies across multiple stages to help them expand and realize their growth potential. For more information visit www.portfolion.hu.
About Rakuten Accelerator powered by Techstars
The Rakuten Accelerator powered by Techstars is a 3-month mentorship driven program for early-stage entrepreneurs to fast-track their growth story by leveraging Rakuten and Techstars resources and global networks.
For media inquiries, please contact:
Ákos Deliága, CEO Talk-A-Bot
Phone: +36 70 294 0074