Boris Valkov, a former AI engineer at Meta and contributor to the PyTorch machine learning library, has shifted gears from big tech to startup life with the launch of Lace AI. His new venture brings artificial intelligence into customer service for the home services industry — a market he believes is ripe for transformation.
From Grocery Store to SaaS Growth
Valkov’s entrepreneurial journey began in his family’s grocery store, where he first saw the power of customer service via telephone. After years at VMware and Meta, he teamed up with co-founder Stan Stoyanov to explore how AI could be used to improve customer engagement — particularly in industries where voice calls are the first touchpoint.
Home services companies — like those in HVAC, roofing, and plumbing — rely heavily on inbound phone calls to generate sales. Lace’s AI-powered software analyzes 100% of those calls to detect missed revenue opportunities and help businesses close more deals. Valkov says the goal is simple: ensure no sales lead slips through the cracks.
Lace AI is Experiencing Rapid Growth, Due to Big Backing
Despite launching sales operations only in late 2023, Lace has already partnered with over 100 businesses including A1 Garage Door Service, Eco Plumbers, and Sage Home. While Valkov declined to share specific revenue figures, he said the company achieved 1,000% annual recurring revenue growth in 2024.
Even a modest 1% improvement in call-to-sale conversion can be game-changing. For example, a $300 million company gaining that extra 1% would see a $3 million revenue boost. Some Lace customers, Valkov claims, are seeing double-digit percentage increases.
Lace operates on a SaaS model, charging a monthly fee per support agent.
Today, the Mountain View-based startup announced it has raised $19 million in total funding. This includes a previously undisclosed $5 million pre-seed round led by Canvas Ventures and a $14 million seed round led by Bek Ventures. Notable investors also include Horizon VC, Launchub, Snowflake co-founder Marcin Zukowski, and Vivino’s Heini Zachariassen.
Bek Ventures managing partner Mehmet Atici praised the team’s deep industry insight and focus on underrepresented sectors: “This team knows how to identify and serve overlooked markets using AI — that’s a massive opportunity.”
With just 20 employees currently, Lace plans to triple its team size using the fresh capital. As the startup continues to scale, Valkov remains focused on bringing advanced AI to a traditionally low-tech industry — one phone call at a time.
