Kustomer raises $30M Series B -Meta Acquired His Company for $1 Billion, and Then Changed Its Mind. Now, He’s Charting a New Path
Exclusive: The AI customer service company Kustomer just raised $30 million in funding after being spun off by Meta.
Getting acquired by a larger company is the end goal for many startups—and that’s exactly what the software company Kustomer achieved in 2020 when Meta bought it for a reported $1 billion.
Not all things are meant to last: In 2023, Meta spun Kustomer off, leaving it independent once again. On Thursday, the customer service and CRM company announced a $30 million Series B funding round as it orients itself toward an AI-centric future. The $30 million round was led by the investment firm Norwest and also saw participation by prior backers Battery Ventures, Redpoint Ventures, and Boldstart Ventures, the company says. Kustomer is not yet sharing its new valuation.
The new injection of capital will go largely toward expanding the firm’s AI offerings, says CEO and co-founder Brad Birnbaum, as well as growing its global footprint.
“We are going to invest some of that in international expansion, but the rest of the focus will certainly be on continuing to build the absolute best product to support our customers and really help transform the way that companies work with their customers using AI,” Birnbaum tells Inc…