Customer service bot startup Agent IQ announces $6.3 million Series A led by Sierra Ventures


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For those who’ve tried to cope with a bot earlier than you’ll be able to communicate to a human customer support rep, you understand how irritating that course of can typically be. Certain, there are primary duties that may liberate a human rep to deal with the tougher issues, however it may be exasperating when there isn’t any simple strategy to discuss to an individual. Agent IQ, a startup that has developed customer support bots, acknowledges that downside and at the moment it introduced a $6.three million Sequence A funding.

The spherical was led by Sierra Ventures with participation from CRCM and Rubicon Enterprise Capital. Right now’s funding brings the entire raised to $eight.5 million.

Agent IQ has its roots in a Nike advertising program, which allowed prospects to speak with a bot by typing “Hey Nike” into their chat app. CEO and founder, Craig Davis says they started constructing on that early program, they usually realized that simply the bot or simply an agent didn’t actually work for a lot of prospects. It required a product that blended expertise with people.

He discovered by visiting numerous customer support facilities, the ache wasn’t only for the shoppers. Reps had been bored answering the identical primary questions repeatedly, which wasn’t enjoyable or difficult for them. What’s extra, after they did have to reply distinctive questions, it required accessing quite a lot of disparate programs. The brokers needed to have a number of home windows open making an attempt to juggle completely different content material repositories to search out the suitable response.

Picture: Agent IQ

“We thought it was vital to assist the agent, suggesting responses based mostly on previous conversations and based mostly what they picked up on new information,” Davis defined. In addition they started presenting information base articles dynamically based mostly on the context of the dialog, utilizing that energy of synthetic intelligence and machine studying underpinning their answer.

Davis understands that he’s competing with giants like Salesforce and Oracle, however he says as a result of his firm’s answer is constructed from the bottom up with the newest expertise, it has a leg up on these regular suspects. “Let’s discuss AI piece. They’ve years of technical debt and their expertise is overlaid on their customer support administration platform. They don’t get seamless handoff and don’t get that closed loop AI studying [that we provide],” Davis claimed.

He’s additionally competing with startups providing an analogous worth proposition like Digital Genius.

The corporate at present has 20 staff and 14 prospects, all of which Davis says are Fortune 1000 prospects paying at the least $500,000 a yr. He says the corporate plans to broaden on the gross sales aspect and to construct out buyer success groups utilizing the brand new funds.

Featured Picture: Getty Pictures

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