A St. John’s tech company that is focused on revolutionizing the way businesses access customer insights is receiving support from the Provincial Government as it works to refine its product. The Honourable Steve Crocker, Minister of Industry, Energy and Technology, today announced $280,161 from the Business Growth Program to support Retellio as it undertakes a research and development project that aims to advance the capabilities of its platform.
Customer feedback is a critical component for businesses seeking to innovate and improve their products and services. Traditional product insight platforms are time-consuming and resource intensive. Retellio has developed an early-stage proof of concept tool that leverages AI to automatically highlight all the essential moments from customer call recordings. Retellio’s AI technology combs through the customer data and generates custom internal podcasts that highlight strategic priorities found within the customer feedback. The podcast significantly reduces the time it takes for leadership to review thousands of calls and helps employees gain a deeper understanding of what clients are saying.
Retellio was launched by two former employees of Verafin. The company recently secured $1.3 million in a pre-seed investment round led by Pelorus Venture Capital, which manages the Provincial Government-created Venture NL Funds I and II.
Retellio’s project will include hiring five new technical positions, as well as retaining five existing positions, all in this province. This investment from the Provincial Government leverages a further 75,000 from other sources and an investment of $866,411 from Retellio for a total project cost of $1,221,572.
The Business Growth Program provides non-repayable contributions for projects or initiatives to assist businesses start, innovate, scale and improve sales locally, nationally or internationally. Investments from this fund aim to support development and commercialization, productivity improvement and innovation, knowledge and technical assistance and growth and internationalization.
Quotes
“With the rapid advancements in AI, there is a significant opportunity to revolutionize how customer feedback is understood and shared, making it more efficient, accurate, and insightful. Retellio is taking steps to get an early place in this emerging market, and we are pleased to support them as they scale up here in Newfoundland and Labrador.”
Honourable Steve Crocker
Minister of Industry, Energy and Technology
“We are proud to be building Retellio here in Newfoundland and Labrador, where the combination of local talent and government support is helping us accelerate our early traction in a big way. At the heart of our mission is helping companies become truly customer-obsessed — because insights don’t matter unless the right people hear them and act on them.”
Brent Pretty
CEO, Retellio
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Business Growth Program
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