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Ada currently serves customers in industries from fintech and retail to telecom and software, and business leaders such as AirAsia, Mailchimp, Shopify, Telus, Upwork, and Zoom, among others
Fremont, CA: Ada, a Toronto, Canada-based Automated Customer Experience (ACX) platform provider, raised $44m in Series B round of financing. The round was led by Accel, with participation from existing investors Bessemer Venture Partners, FirstMark, Version One, Leaders Fund, and Burst Capital.
“Although AI gets thrown around a lot in the enterprise, we are focused on companies offering solutions that are driving real business value, and Ada is doing exactly that. Ada is breaking through the crowded market of chatbots to define a new category of automated customer experience that can manage far greater customer inquiry volumes while delivering some of the strongest customer satisfaction scores we’ve seen,” said Ben Fletcher, partner at Accel. He added that Ada delivers compelling value through “uniting automation, personalization, speedy implementation, and a no-code platform for non-technical users.”
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Ada’s ACX platform features a chatbot powered by an AI engine that allows the company to deliver personalized customer service conversations. The company says it uses machine learning to increase the accuracy of its platform and allows its customers in different markets to tailor the experience to its customers. For example, in a fintech company, the ACX platform can be trained to understand the industry’s jargon, typos, spelling errors, and work with 100 languages.
“Our founding team spent over a year in the trenches of customer support and saw first-hand that existing solutions just couldn’t scale in the face of soaring ticket volumes and sky-high customer expectations,” said Mike Murchison, Co-founder, and CEO of Ada, “We designed Ada to help customer service teams take advantage of all the benefits of automation without sacrificing the personalized touches that are so essential to winning loyal, long-term customers. Ada will use this investment to lead the next phase of this market, extending our best-in-class AI with the aim of delivering personalized experiences across all customer properties while providing more tools to help businesses better calibrate their customer service strategy and optimize their bottom line.”
The chatbot market witnessed sudden leap and fall a few years back, but the current players are providing a critical service to its customers. They are faced with rising expectations from consumers and increasing demands from organizations looking to scale operations. Mature startups like Ada are well-positioned to continue to capitalize on the increased requirements, and this funding round should carry the company to new markets.
Check out: Top Customer Experience Solution Companies
See aslo: Top Chatbot Solution Companies
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