Espresso Capital has announced today that it has provided the 8 Million USD credit facility to Interference Solutions. The recent funds will significantly help the San Francisco-based company to continue towards its mission objectives.
Interference Solutions is basically a leading provider of Intelligent Virtual Agents to automate and regulate complex tasks typically managed by the live agents over messaging, voice and chat. It is the company’s mission to integrate the Artificial Intelligence technologies for government agencies and large organizations. The company is fully backed by PeakSpan Capital, who also helps the company to raise 12 Million USD through Series A round back in 2018.
Chief Executive Officer of Interference Solutions, Callan Schabella said, “We’re delighted to be using venture debt from Espresso to help fund our growth as we continue to scale and expand market share.”
“Espresso’s funding gives us the working capital we need to execute on our plan and reach the operational and financial milestones we’ve set for the company to position us for our next capital raise,” Schabella further added.
Managing Director at Espresso Capital, Will Hutchins said, “We’re excited to partner with Callan and his team at Inference. Their continued growth and position as a market leader in this growing segment reflects their success in helping clients deliver measurably better customer experiences.”
Managing Partner and Co-founder at PeakSpan, Phil Dur said, “We’ve worked with Espresso before and liked their flexible approach to funding fast-growing companies. The team has a deep understanding of what it takes to scale and build successful companies and knows how to structure their debt facilities to best support that growth.”
“For Schebella and his team, the experience working with Espresso has been a great one so far. “Not only did Espresso come highly recommended from our board, they are also truly unique. They had the most favorable terms, are highly responsive and easy to work with, and gave us a level of optionality that simply doesn’t exist anywhere else.” Phil continued.