Omilia, a Cyprus-based provider of self-learning agentic CX platform for enterprise contact centers, has raised $67 million in Series B funding led by Expedition Growth Capital. The platform automates customer service across voice and digital channels with proprietary AI that improves from real interactions without manual retraining. The capital will accelerate global expansion, including opening its first U.S. office and scaling go-to-market teams.
Contact Center AI Adoption Accelerates
The timing comes amid surging enterprise demand for conversational AI that delivers measurable ROI. Kore.ai raised $150M in January 2024 from FTV Capital and NVIDIA. Cognigy raised $100M Series C in June 2024 before its acquisition by NICE. Omilia's approach — owning its full proprietary stack from speech-to-text through dialog management — addresses the compliance and latency gaps that plague stitched-together platforms.
Regulated Industries Demand Auditable AI
Enterprises in banking, insurance, healthcare, and utilities handle millions of calls daily yet face strict regulatory requirements for data sovereignty and decision transparency. Omilia's glass box architecture provides full auditability on every AI decision, a requirement for Fortune 200 clients processing sensitive interactions at scale. Competitors relying on third-party components struggle to match this end-to-end control.
Proprietary Stack Enables Self-Learning Gains
Omilia built its own STT, NLU, dialog manager, and Lexis TTS engine from scratch, enabling sub-45ms latency and guaranteed performance at 50,000+ concurrent calls. This contrasts with orchestration-layer competitors that inherit variability from external providers. The self-learning capability compounds containment rates over time from live interactions, a capability the company says most agentic deployments lack.
"We will use any available weapon to win the battle for customer service. Companies like Sierra, Decagon, etc. identify as generative AI companies. Their sole purpose is to deploy generative AI and limit themselves. You may have a bazooka, but if your enemy is near you, you need a knife." — Dimitris Vassos, CEO
Expedition Capital Validates Enterprise Focus
Expedition Growth Capital, a transatlantic software specialist, led the round after Omilia grew ARR 10x to over $60 million since its 2020 financing while remaining profitable. The investor's focus on software and AI signals conviction in Omilia's capital-efficient model and its positioning for regulated verticals. New leadership hires previously scaled Five9 from roughly $100 million to over $1 billion ARR.
Conversational AI Market Expands Rapidly
The conversational AI market stands at $17.97 billion in 2026 and is projected to reach $82.46 billion by 2034, according to Fortune Business Insights. Key competitors include Kore.ai ($223 million total raised), Yellow.ai ($102.2 million total), and Aisera ($164.5 million total). Structural drivers include Gartner's prediction that conversational AI will reduce contact center labor costs by $80 billion globally in 2026 alone, pushing enterprises toward platforms that combine voice-native AI, anti-fraud, and closed-loop optimization.
Leadership Builds on Two-Decade Foundation
CEO Dimitris Vassos founded Omilia in 2002 after deploying voice technologies at IBM across 70 countries. The company remained bootstrapped and profitable for over two decades before its first institutional round, giving it a rare track record of sustained execution in a market dominated by newer entrants.
Expansion Plans Target North America and Europe
With the new capital, Omilia is opening its first U.S. office and hiring senior revenue and marketing executives. It has also partnered with valantic to expand into DACH and Benelux markets, targeting regulated enterprises across 33 of the 40 DAX-listed companies.