Ex-Meta engineer raises $14M for Lace AI, a revenue generation software startup

Tech Crunch - Apr 22nd, 2025

Boris Valkov, an AI engineer from Meta, has launched Lace AI, a startup focused on revolutionizing customer service for home service companies through AI-driven software. After identifying the potential of AI in enhancing customer interactions, Valkov left Meta and teamed up with Stan Stoyanov to address the sales conversion challenges faced by companies like HVAC, plumbing, and roofing businesses. Lace AI's software analyzes 100% of customer calls to identify lost revenue opportunities, claiming to improve the likelihood of converting calls into sales. The company has already seen significant traction, reporting a 1,000% annual recurring revenue growth in 2024, despite only beginning sales at the end of 2023.

Lace AI has successfully raised a total of $19 million in funding, including a $5 million pre-seed round and a $14 million seed round, led by Canvas Ventures and Bek Ventures, respectively. The company's innovative approach has drawn interest from several notable investors, including Snowflake's co-founder Marcin Zukowski and Vivino's Heini Zachariassen. With plans to expand its team threefold, Lace AI aims to further penetrate the underserved home services sector, leveraging AI to create tangible business impacts. This growth aligns with a broader trend of applying AI to overlooked industries, which presents vast opportunities for technological advancement and revenue growth.

Meta Customer Service Lace Ai Boris Valkov Ai Driven Software Home Services Funding Rounds Revenue Growth

Story submitted by Fairstory

RATING

7.8

Fair Story

Consider it well-founded

The article provides a comprehensive overview of Lace AI's founding and market strategy, supported by credible sources and clear narrative structure. It effectively communicates the company's potential impact on the home services industry through AI technology. However, the story could benefit from a more balanced perspective that includes independent expert opinions and potential challenges. While the article is timely and relevant to industry professionals, its niche focus may limit its broader public appeal. Overall, the article is a well-written piece that successfully informs readers about a significant development in the AI and startup sectors, though it could enhance its impact by addressing a wider range of viewpoints and potential implications.

Accuracy

The story is largely accurate, with most of its claims supported by the available sources. Boris Valkov's background as an AI engineer at Meta and his contribution to PyTorch are correctly detailed. His departure from Meta to found Lace AI is also consistent with the information provided. The claims about the startup's focus on AI-driven customer service software for home service companies and its market research are well-supported. However, some areas, such as the exact revenue figures and customer impact metrics, are less precise and could benefit from further verification. The story's claim of 1,000% ARR growth, given the company's short sales history, might need additional scrutiny for precision and context.

Balance

The article primarily presents the perspective of Lace AI and its founders, which results in a somewhat one-sided view. While it highlights the company's achievements and potential, it lacks input from independent experts or competitors that could provide a broader industry context. The investor's viewpoint adds some diversity, but the narrative could be more balanced by including potential challenges or criticisms of the technology and market approach.

Clarity

The article is well-structured and uses clear language to convey its points. It logically progresses from Valkov's background to the founding of Lace AI, detailing the company's technology and market focus. The tone is neutral, and the information is presented in a way that is easy to follow. The clarity of the narrative helps readers understand the company's mission and potential impact without unnecessary complexity.

Source quality

The article relies on credible sources, including direct quotes from Boris Valkov and investors like Mehmet Atici from Bek Ventures. These primary sources lend authority to the claims made. However, the lack of independent verification or commentary from industry analysts limits the depth of the source quality. The reliance on a single publication, TechCrunch, suggests a need for more diverse sourcing to enhance credibility.

Transparency

The article is fairly transparent about its sources, citing specific individuals and their roles. However, it could improve by providing more detailed explanations of the methodologies behind the claims, such as how the 1,000% ARR growth was calculated. The lack of disclosed revenue figures and specific customer impact data suggests some areas where transparency could be improved, particularly regarding the financial health and market success of Lace AI.