Munich-based Retorio has raised €9 million in funding for its personalised AI coaching platform during its series A round. Lead investor in the latest round is Berlin-based B2B tech venture capital firm SquareOne.
Porsche Ventures, the venture capital arm of Porsche AG, and Silicon Valley-based VC company Storm Ventures are among the other new investors. The family offices of numerous DAX board members and entrepreneurs, as well as established investors including Basinghall Partners (London/Luxembourg), Passion Capital (London), and Sofia Angels Ventures (Sofia), took part in this round.
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Retorio’s core competency is its in-house developed Behavioural Intelligence, a state-of-the-art system that employs video analysis to identify and educate the successful behaviours of leadership, service, and sales teams.
Five of the ten most successful German organisations have increased employee performance quickly, scalable, and affordably by utilising Retorio.
Dr. Christoph Hohenberger, Co-CEO of Retorio said, “Our personalized AI coaching is a game changer for global enterprises. It allows them to identify successful behaviors within sales and service teams and unleash them across the entire organization, This lets companies respond faster to new market conditions and compete in an increasingly tough global market. Our revenues are growing in the triple-digit percentage range, we have gained strong new investors and are currently preparing to enter the US market.”
Charlotte Baumhauer, Investment Manager at SquareOne, commented: “Retorio’s AI technology unlocks new growth potential for companies that is hardly used today. Through the smart use of behavioral data, Retorio is able to significantly multiply a company’s sales performance at scale.”
Major German companies are among the American, British, and Asian businesses that the Munich-based AI company serves. These businesses come from a variety of industries, including the automotive, insurance, telecommunications, and logistics sectors.
Dr. Patrick Oehler, founder and co-CEO of Retorio said, “AI can make us more human by helping us improve our interpersonal skills,” “Our technology puts the employee first. We create a learning space that encourages self-awareness: how do I connect with my customers and colleagues and how can I improve my behavior? This is not only for the company’s success but also for a person’s personal growth. Our digital coach, who knows the best practices of thousands of peers in and outside the company, is always ready to give honest feedback.”
Retorio is an AI coach that can be easily incorporated into an employee’s workflow. The company was founded in 2018. Sales workers can prepare for a customer meeting the following day by participating in a virtual training session that is triggered by a CRM system or another system (such as an HRIS). Moreover, managers have access to comparable training materials in preparation for an impending appraisal interview.