Lighter Capital funding and connections spur Flip’s $6.5M infusion
Flip (formerly RedRoute) is on the fast route to success! Flip leveraged 3 rounds of non-dilutive capital to power growth resulting in a successful VC raise of $6.5 M in seed funding led by ScOp Venture Capital, Bullpen Capital and a group of angel investors.
New York, NY
Voice and Artificial Intelligence
Recent VC Funding:
$6.5M Seed Round, 2022
Recent Lighter Capital Funding:
USD $1.1M Loan, 2019-2020
RBF Fueling Growth to Successful VC Raise
Headquartered in New York, Flip (formerly RedRoute), Inc. is a Voice AI industry leader building the ‘Alexa for customer service’ that for the first time makes it possible for brands to affordably deliver great support over the phone. The voice assistant answers all calls and provides quick resolution of simple requests, forwarding the more complex to readily available, no longer ‘under-water’, human agents.
In two short years, Flip was able to leverage $1.1 M in non-dilutive funding from Lighter Capital to invest in product development, expand across industries, and hire new people without giving up equity or control. The company saw 3X increase in e-commerce customer growth and 10X increase in revenue.
During this pivotal time of growth, it was imperative for Brian Schiff, Co-founder and CEO, to focus on the product versus pitch decks and investor meetings. When Schiff was ready to move to the next level of funding, Lighter Capital guided them through the process by making valuable introductions and giving advice for a successful VC raise of $6.5 M in seed funding led by ScOp Venture Capital, Bullpen Capital and a group of angel investors.
Schiff, Sam Krut and Jacob Cooper founded the company in 2015 as a ride-sharing app as undergrads in Cornell University’s eLab Incubator Program. After spreading it to 4-5 college towns, the team saw a bigger opportunity, and had fully pivoted by early 2018. Initial customers of the Flip we now know today were transportation companies. But, coinciding with COVID-19, Flip has expanded into e-commerce with brands like UNTUCKit and Brooklinen. Flip’s fast implementation allows retailers to reduce up to 40% of volume with their AI solution on day one. It’s a perfect solution for e-commerce retailers leveraging technology to win in the modern marketplace.
Automation has promised radical transformation in customer service for years, but always been limited to the biggest companies. With the industry’s first SaaS solution, Flip makes it possible for companies of all sizes to achieve better customer experience for less: you can implement in minutes, for free & without IT, improving core KPIs by 50% on day 1.
How does Flip work?
Flip is a voice assistant that acts as one of your call center agents to answer and resolve customer requests. It integrates with your phone system and customer management system to make the customer’s updates. If Flip can’t assist, the call is seamlessly escalated to your call center agents. With a straightforward implementation process, customers go from decision to impact in minutes. Top CX metrics like hold time, missed calls, cost/contact & more see up to 500% improvement.
Flip (Formerly RedRoute)
Flip (Formerly RedRoute)
Flip is a Voice AI industry leader that provides call automation solutions for customer service call centers. The company finally solves the customer service call center problem with a solution that is better for callers, easier to manage, and less expensive than legacy call centers using an automated agent that is disrupting the call center market.
“Lighter was brilliant because of how easy and fast it was to access capital. Being non-dilutive and affordable are great, but time is everything for a founder. The VC support was absolutely above & beyond, and included an intro to one of our eventual investors.”
Brian Schiff, Co-Founder and CEO