AI-powered customer carrier analytics platform SupportLogic nabs $50M

AI-powered customer carrier analytics platform SupportLogic this day launched that it raised $50 million in sequence B funding led by WestBridge Capital Partners and Total Catalyst, with participation from Sierra Ventures and Emergent Ventures. CEO Krishna Raj Raja says that the funds, which ship SupportLogic’s total raised to over $62 million, will likely be set apart toward supporting the firm’s enhance and ongoing platform pattern.

Santa Clara, California-basically based mostly mostly SupportLogic was based mostly in 2016 by Krishna Raj Raja, an early enhance engineer at VMware and the first employee on the firm’s India place of job. Raja says he noticed firsthand that customer intent alerts had been getting misplaced amid organizational silos and customer relationship administration and enhance ticketing programs.

“[I] based mostly SupportLogic with the mission to transform the position of consumer enhance as a proactive exchange agent inner companies by being able to take and act on the perfect recount of the shopper to develop and supply protection to customer earnings,” Raja told VentureBeat by the utilization of electronic mail. “Our fresh funding will reduction SupportLogic to add more customer interplay channels to the resolution location — for example, more than one data sources similar to chat, recount, discussion forums, surveys, and emails. We are able to also amplify our agent teaching and customer effectively being administration capabilities.”

AI-powered customer carrier

The pandemic brought into intriguing reduction the cost of AI in customer carrier operations. Gartner predicts that 15% of all customer carrier interactions globally will likely be thoroughly powered by AI in 2021. And in step with Deloitte, 56% of companies are investing in conversational AI technology to enhance terrifying-channel experiences.

SupportLogic specializes in extracting customer alerts from commerce communications with case evaluate and agent teaching tools. The utilization of natural language processing, the platform affords ideas to managers to salvage before escalations and helps to name the perfect conditions in a backlog to search out out about. SupportLogic also affords smart case routing, the utilization of its AI engine to settle the perfect readily accessible agent to address a case in step with components take care of sentiment and churn possibility. Furthermore, the firm’s product helps non-enhance functions, including product administration, providing visibility to customer challenges that purchasers can act on.

“Off-the-shelf sentiment diagnosis and entity extraction machine learning models are knowledgeable on a truly assorted corpus and create no longer work on these datasets. So much of the tools in this apartment focal point on case deflection employ conditions, similar to chatbots, robotic course of automation, and data administration,” Raja talked about. “As such, there own no longer been any tool-as-a-carrier solutions that create what SupportLogic does to this point. In point of truth, many of our potentialities in the muse started down the route of creating their very possess solutions and SupportLogic in general displaces these homegrown projects.”

SupportLogic designed its platform the utilization of an ensemble capability — a machine learning methodology that combines several grisly models in train to do one optimal predictive model — running on Google’s BERT. Expert from millions of consumer interactions, the model and its predictions are personalised for every customer, leveraging a core signal extraction engine built on a protracted-established framework.

SupportLogic claims that it has several thousand users across “many huge endeavor accounts.” In 2021, the startup’s customer grisly grew 300%, while the need of interactions analyzed by its AI grew from 15 million in 2020 to over 60 million in 2021, the firm says.

“When the pandemic hit, take care of in every other commerce, we thought we’d be negatively affected. But surprisingly, we weren’t,” Raja talked about. “The enhance engineers of our potentialities all began to work more remotely and collaboratively. SupportLogic delivered a straight attend for these organizations — e.g., agent teaching grew to change into easier to create … We also evolved the product to reduction our potentialities to retain watch over the impact of the pandemic inner their very possess companies. As an example, a pair of potentialities asked us to reduction them song pandemic-connected key phrases take care of ‘COVID 19’ that we fast turned on inner our product.”