Stocks
$1.5B Voice AI Startup Abandons $125M Funding Round Amid Salesforce Talks
Listen Labs, a startup using voice AI for customer interviews, has abandoned a $125 million Series C funding round at a $1.5 billion valuation. The deal was led by Menlo Ventures but never closed.
The startup itself withdrew from the signed term sheet, according to TechCrunch sources. This is a rare occurrence in the venture capital market and typically viewed unfavorably.
Investors speculate that talks over Salesforce's acquisition of Listen Labs might be the reason for the collapse. The CRM company was reportedly discussing buying the startup for about $2 billion.