Stripes Leads Balto's $37.5 Million Series B Round

Stripes has led a $37.5 million Series B round in Balto, according to a Dealroom report. The round marks the largest disclosed financing for the company to date.

Balto develops software for contact centers. The fresh capital gives the St. Louis-based vendor additional runway to expand its product line and sales operations in a segment where enterprises continue to spend on tools that improve agent performance.

The size of the round — $37.5 million — signals continued investor appetite for contact-center technology despite a tighter funding environment for growth-stage software companies. Stripes, the lead investor, has a track record of backing software and internet businesses at this stage.

Dealroom first reported the transaction. No valuation, revenue figures or secondary terms were disclosed in the report.

The investment will test whether Balto can convert new capital into share gains in a contact-center software market crowded with larger, well-funded competitors. The company has not announced a timeline for deploying the funds.