Voice AI startup Listen Labs has reportedly withdrawn its approximately $125 million Series C funding round. Meanwhile, acquisition talks with Salesforce have emerged, with whether a deal will be reached now the focus of attention.
Listen Labs, founded in 2023, is reportedly a company that provides AI for automatically collecting and analyzing audio and video data from customer interviews. The company has reportedly withdrawn the preliminary terms for the planned funding round. The Series C was expected to total approximately $125 million, with a post-closing valuation of approximately $1.5 billion.
Acquisition talks with Salesforce have emerged as a possible reason for the withdrawal, with the deal potentially valued at approximately $2 billion. The talks are ongoing, and a deal may not be reached, according to reports.
Listen Labs had been planning a funding round expected to be led by Menlo Ventures, but its withdrawal of the signed terms has created a situation in which a return to the capital markets and alternative financing terms are being considered. The company's founders, technology and customers are reportedly as described, with Microsoft and Canva among its customers. Its strengths are said to include using AI to predict customer needs and prepare reporting materials.
As of now, Listen Labs, Salesforce, Menlo Ventures, Simile and other parties involved have not commented, leaving the final terms of the talks and funding round unclear.