Quo Secures $105 Million Growth Financing Amidst Major Rebranding and Co-Founder Transition

San Francisco – OpenPhone, a business communication solution, has announced its rebranding to Quo and successfully closed $105 million in growth financing. The significant investment, led by General Catalyst's Customer Value Fund, with participation from existing investors Craft Ventures, Slow Ventures, Garage Capital, and Y Combinator, coincides with co-founder Daryna Kulya's transition from her role.

The $105 million growth financing is earmarked to fuel the company's expansion and further investment in its product offerings. Of this, $96 million comes from General Catalyst's Customer Value Fund, a unique investment model focused on customer acquisition and measurable growth, with an additional $9 million in equity from existing backers. This capital infusion is intended to help Quo scale its proven solution and reach more businesses.

The rebranding from OpenPhone to Quo signifies the company's evolving mission beyond just a business phone system. As co-founder Daryna Kulya stated in a social media post, "When Mahyar Raissi and I started OpenPhone in 2018, our mission wasn't just to help businesses make calls and send messages—it was to help them build stronger customer relationships so they could grow faster." The new name, Quo, is intended to reflect its broader vision as a "customer hub" with phone capabilities at its core, challenging the status quo of business communication.

Alongside the rebranding and funding, Quo is rolling out major upgrades to its voice AI agent, Sona. These enhancements include making Sona available for free on all plans with a new tiered, usage-based model, offering 10 free Sona calls per month to every customer. Sona can now handle more sophisticated scenarios, be trained on custom jobs, and transfer calls to a human agent when necessary, aiming to help businesses avoid losing customers due to missed opportunities.

Daryna Kulya, who co-founded OpenPhone with Mahyar Raissi in 2018, announced that her last day as a co-founder aligns with these pivotal announcements. Her statement underscored the company's commitment to building great products and helping customers, expressing gratitude to the team and investors for their belief in the company's vision. Quo currently serves nearly 90,000 businesses, demonstrating significant growth in the small and medium-sized business market.