Lace AI, a revenue intelligence software company founded by CEO Boris Valkov, just closed a $14 million Series A. This funding round was led by Bek Ventures. That capital infusion brings the total funding raised by the company to $19 million since its founding in early 2022. The seed financing represents an “up” round for Lace. That’s a testament to the level of investor confidence in the capital company’s innovative revenue generation enabling approach.
The idea for Lace came from Valkov’s roots in the family grocery store industry. He saw, all too easily, how difficult it would be to track interactions with every customer, let alone where they’d lost revenue opportunities. It was this realization that led him to come up with a better solution. It scans all your conversations to ensure that every lead or opportunity is not a missed opportunity.
Lace’s technology uses artificial intelligence to analyze incoming calls for all businesses, allowing them to identify lost revenue opportunities with ease. Lace’s software distinguishes itself from competitors, as it automatically monitors 100% of calls. This method provides an all-around picture of every touchpoint along the customer journey.
Since its soft launch, Lace has worked with over 100 bride-owned businesses. Bold or Bright examples include A1 Garage Door Service, Sage Home, Eco Plumbers, Matrix and Lee’s Air. The results, as you might imagine, have been nothing short of remarkable—with several clients seeing double-digit percentage increases in revenue within weeks of implementing Lace’s solutions. In 2024, the company increased its annual recurring revenue (ARR) by over 1,000%. This tremendous growth is a testament to the market’s demand for its unique and groundbreaking software.
Today, Lace has a core team of 20 dedicated staff. Their interest is in helping the company achieve its mission to power revenue intelligence for organizations of all shapes and sizes. The recent funding will be instrumental in scaling operations and further refining the software to meet the evolving needs of its clients.
Valkov expressed his enthusiasm for the recent developments, stating, “We were about to unlock capabilities…in the application layer in the software stack.” Even more than this—as a tech company— Lace is just getting started. Together, these additions would greatly enhance its functionality and value for users.
This seed funding will enable Lace to further accelerate product development and market expansion efforts. As more businesses look to optimize their revenue generation processes, Lace positions itself as a leader in this growing sector.