Vilnius-based isLucid has completed its pre-seed funding round, with €265,000 contributed by Coinvest Capital alongside investments from Business Angels Fund , Katalista Ventures, Agmis, and other angel investors. The funding will support isLucid’s expansion into Scandinavian and non-English-speaking markets and further development of its AI-powered platform for contact centers. The company’s tools analyze customer interactions, assist agents during live calls, and automate repetitive tasks, addressing privacy and compliance needs for regulated industries. With multi-year contracts secured in sectors like TelCo and Insurance, isLucid aims to enhance operational efficiency and customer experience in the €314 billion contact center industry.
isLucid develops AI software tailored for Sales and Customer Success teams, focusing on enhancing communication and operational efficiency. Its primary product, CallCenter isLucid®, is a modular platform that transforms spoken conversations into structured text, offering features such as transcription, summarization, task organization, and agenda management to streamline workflows. The company also offers Meeting isLucid®, a Microsoft Teams assistant that integrates meeting transcripts with contextual insights, catering to professionals in fields like recruitment and consulting. By enabling efficient handling of conversations and tasks, isLucid addresses the growing need for effective communication tools in dynamic business environments.
The company’s CEO, Vytenis Pakėnas, highlights that this latest funding round will support expansion in Scandinavian and other non-English-speaking markets:
Having the backing of exceptional investors like Jeremy Hitchcock and the successful founders of Dokobit and Tutotoons gives me confidence that the combination of funding and expertise will propel our growth trajectory.
Coinvest Capital has invested €265,000 in the company across two phases.
“Contact centres serve as vital barometers of an organisation’s customer experience. Their precision, coupled with the organisation’s ability to interpret and act on their insights, can significantly influence business outcomes. This is why the tools developed by isLucid for companies in specific sectors and segments are invaluable in enabling timely and appropriate responses to shifts in consumer and customer behaviour. isLucid has already achieved sales in Lithuania, and we are excited to witness the continued growth of their success story,” said Viktorija Trimbel, Director of Coinvest Capital.
isLucid has developed three flagship products centered on extracting insights from human conversation. The first product analyzes call recordings and emails, integrating data such as sentiment, churn signals, and reactions to product offerings into existing marketing and other operational pipelines. The second product acts as a “co-pilot” for support and sales agents during live calls, leveraging conversational data and contextual information. Meanwhile, the newly developed voice+email bot automates the most repetitive interactions using advanced AI capabilities.
“We had a bumpy round with a hard pivot last year, but the hands-on support from our previous investors—Business Angels Fund, Katalista Ventures, Agmis, and a group of dedicated angels—enabled us to survive a tough market environment and ultimately thrive. To fellow founders: stay focused, ask for peer support, and keep pushing forward—you will make it,” shared Vytenis.
“We are committed to supporting founders who tackle significant and complex challenges. isLucid exemplifies this mission through its innovative approach and dedication to meaningful problem-solving. Their work aligns perfectly with our values and commitment to fostering impactful advancements,” said Daiva Rakauskaite, Partner at Business Angels Fund.
The company has now secured funding for expansion and signed multiple multi-year contracts with enterprises in TelCo, Insurance, and other modern utilities sectors. The isLucid team has developed a solution capable of operating fully offline, addressing privacy and compliance requirements in highly regulated industries. In some cases, the company’s AI pipeline has proven to be up to 10 times more cost-effective than alternatives based on public cloud infrastructure.
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Read the orginal article: https://arcticstartup.com/islucid-raises-pre-seed/
