Sofia Angels Ventures joins €9M round for German AI startup Retorio
Retorio, a German AI startup, has secured €9 million in Series A funding round set to strengthen its innovative behavioral intelligence technology, Starbase reports. New investors SquareOne, Porsche Ventures and Storm Ventures, as well as existing backers, including the Bulgarian fund Sofia Angels Ventures, participated in the round.
- Founded in 2018, Retorio develops a platform offering personalized AI coaching and is already used by five of the ten DAX companies with the highest turnover. Its proprietary behavioral intelligence uses video analysis to identify and train successful behaviors of sales, service, and management personnel.
“Our behavior-based AI coaching technology enables global companies to identify and establish patterns of success in sales or service. This helps companies to adapt more quickly to new market conditions and to assert themselves in global competition,”Dr. Christoph Hohenberger, Co-CEO of Retorio, comments.
- The lead investor in the funding round is SquareOne, a Berlin-based investor specializing in B2B tech. Porsche Ventures and Storm Ventures are also new investors. Family offices of DAX board members and entrepreneurs participated again.
- Existing investors also joined in the round, including Basinghall Partners, Passion Capital, and Sofia Angels Ventures, a Bulgarian investment firm that focuses on technology startups at the pre-seed and seed stages.
- Retorio will use the fresh funds to strengthen the innovative behavioral intelligence technology that helps global companies to effectively improve sales and services.