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AI research startup Listen Labs scrubbed a $1.5B funding round for Salesforce talks

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Listen Labs, a market research startup that uses voice AI to conduct customer interviews, recently signed a term sheet for a $125 million Series C at a $1.5 billion valuation, with Menlo Ventures set to lead the round, according to several people with knowledge of the matter.

But that round never closed, the people said. Listen Labs walked away from the signed term sheet, a rare occurrence in the venture world and one that is generally frowned upon, according to VCs.

The financing likely collapsed because of acquisition talks with Salesforce. The CRM giant has recently held talks to buy Listen Labs for around $2 billion, Business Insider reported. The discussions are not finalized, however, and may not result in a deal, the outlet notes.

Listen Labs is one of the leading startups in the rapidly growing field of automating customer research with AI. The three-year-old startup has about $30 million in annualized revenue, about three times more than Simile, a competing startup that predicts human behavior, according to two people familiar with the companies’ financials. In late July, Simile announced that it had closed a $200 million Series B at a $2 billion valuation led by Greenoaks — likely setting a new valuation benchmark for Listen Labs, one person said.

If talks with Salesforce collapse, several VCs told TechCrunch that they expect Listen Labs to return to market and target a valuation of $2 billion or higher.

While acquiring Listen Labs could strengthen Salesforce’s AI capabilities by using the startup’s AI to help predict customer needs, the CRM giant may ultimately decide that paying a 67 times revenue multiple is too steep a valuation, according to a person with experience negotiating exits to Salesforce.

Listen Labs, Salesforce, Menlo Ventures, and Simile did not immediately respond to requests for comment.

Listen Labs was co-founded in 2023 by Florian Jüngermann, a former German national champion in competitive computer programming, and Alfred Wahlforss, who previously founded a staffing startup called Bemlo. The two met while pursuing master’s degrees at Harvard.

Listen Labs’ AI develops survey questions and interviews customers over audio or video. The resulting conversations are then packaged into reports and PowerPoint presentations, similar to those traditionally produced by human market researchers.

Fortune 500 companies rely on this type of research to gauge customer needs and satisfaction with their brands and products, but traditional market research is expensive and can take weeks to complete.

Listen Labs’ technology helps reduce the time and cost of these projects, enabling companies to quickly understand how customers are reacting to product changes and iterate on them more efficiently.

The startup’s customers include Microsoft, Canva, Anthropic, and Sweetgreen. Listen Labs and Simile aren’t the only startups using AI to disrupt the customer research market.

Besides Simile, competitors in the space include Outset, Keplar, and Aaru. While some platforms automate interviews with real humans, others startups — like Aaru and Simile — take a synthetic approach, using AI to simulate human behavior and predict responses without interviewing anyone at all.

Listen Labs was previously valued at $500 million when it announced a $69 million Series B round in late January led by Ribbit Capital, with participation from returning backers Sequoia, Conviction, and Pear VC.

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Mutfwang grants absolute pardon to 134 prison inmates on Independence Day

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Plateau State governor, Caleb Manasseh Mutfwang, has exercised the prerogative of mercy entrenched in the Nigerian Constitution by granting an “absolute pardon” to 134 prison inmates as part of activities marking Nigeria’s 66th Independence Anniversary on October 1, 2026.

Mutfwang, who announced the pardon in his speech to mark the country’s Independence Day anniversary, commuted the sentences of four inmates on death row to life imprisonment, while the others were granted absolute pardons.

The governor said the gesture followed consultations with the State Advisory Council on the Prerogative of Mercy, stressing the need for justice, humanity and hope as Nigerians reflect on the nation’s journey.

In the goodwill message signed by the governor’s Director of Press Affairs, Bere Gyang, Mutfwang said the pardoned inmates had exhibited remorse and become model prisoners, with many of them undertaking reforms that distinguished them.

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Bere gave the names of the death-row inmates whose sentences were commuted to life imprisonment as Zuhumnan Musa, Jeremiah Aese, Pam Lang and Thoma Danboyi.

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Updated: Independence Anniversary: Tinubu promises stronger primary healthcare for poor Nigerians

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President Bola Tinubu has promised to strengthen primary healthcare services for poorer Nigerians as part of his administration’s efforts to reduce poverty and improve living conditions.

Mr Tinubu, in a televised address marking the country’s 66th Independence Anniversary, said his administration would work with state and local governments to strengthen primary healthcare, basic education, and other essential public services poorer Nigerians depend on.

“That is why, working with our states and local governments, we will continue to strengthen primary healthcare, basic education, and the essential public services poorer Nigerians depend on most,” he said.

The promise comes against the backdrop of persistent challenges in Nigeria’s primary healthcare system, with recent assessments and PREMIUM TIMES investigations documenting shortages of health workers, poor infrastructure, inadequate equipment and gaps in basic utilities at several facilities.

PHCs face staffing, infrastructure gaps

A recent assessment of 1,480 primary healthcare centres across 16 states found that 97 per cent of the facilities failed to meet the national minimum staffing requirement.

The assessment, conducted between October 2023 and June 2025 by Orodata Science and Civic Tech, covered 277 local government areas across Nigeria’s six geopolitical zones.

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Only three per cent of the facilities assessed met the national minimum staffing requirement, while 11 of the 16 states had no assessed PHC that met the standard.

The assessment also found that 40 per cent of the facilities had broken ceilings or leaking roofs, while 38 per cent operated without electricity.

Another 39 per cent relied on unsafe water sources, while 75 per cent lacked essential neonatal resuscitation equipment.

About 75 per cent of the PHCs assessed were located in rural communities, where such facilities often serve as the first, and sometimes only, formal source of healthcare for residents, the report said.

PREMIUM TIMES’ recent investigation into rural PHCs in Osun State also found that challenges persisted at some facilities despite government spending and interventions aimed at revitalising primary healthcare.

The investigation across three PHCs found problems including deteriorating infrastructure, inadequate staffing, limited equipment and gaps in essential services.

Increase in PHC financing

The federal government has, however, reported increased funding for primary healthcare under the Basic Health Care Provision Fund (BHCPF).

In June, the Coordinating Minister of Health and Social Welfare, Muhammad Pate, said N339 billion had been disbursed to states through the BHCPF since its establishment in 2014, with N235 billion of the amount disbursed in the three years of the Tinubu administration.

Mr Pate said the increased funding reflected intensified investment in primary healthcare and had helped expand access to essential health services.

He said more than 8,000 PHCs across the 36 states were receiving funding through the BHCPF gateways, while assessments were underway to increase the number of supported facilities to 17,600 nationwide.

The government has also launched the Primary Healthcare Provision Strengthening Programme (HOPE-PHC), a $570 million programme designed to strengthen primary healthcare as part of a wider human capital development and poverty-reduction initiative.

The link between healthcare and poverty reduction

In his address, Mr Tinubu acknowledged that millions of Nigerians still struggle to meet basic needs, including healthcare costs.

“I am also conscious that millions of our fellow citizens cannot wait for tomorrow. Some Nigerian families still struggle today for the next meal, the next school fee, the next medical bill, or simply enough money to get to work,” he said.

ALSO READ: FG approves N32 billion for BHCPF to strengthen primary healthcare services 

He said the difficulties facing vulnerable Nigerians were not created by the economic reforms of the last three years but were the accumulated consequences of decades of low productivity, inadequate infrastructure, insufficient opportunities and institutions that had often failed those who needed them most.

Mr Tinubu said his administration could not erase in four years problems that had accumulated over generations but could change their course.

“We can build an economy that steadily lifts people out of poverty while ensuring that those who remain vulnerable are not abandoned along the way,” he said.

He said the government was strengthening direct support for poor households and improving the National Social Register so that assistance reaches those who genuinely need it.


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