AI start-up DigitalGenius secures $14.75m Series A
Customer service technology company that counts Eurostar and Unilever as clients will invest in commercial expansion and product development
DigitalGenius, the customer service artificial intelligence (AI) start-up, has raised $14.75m (£11.1m) in a Series A funding round led by Global Founders Capital, with participation from MMC Ventures and Paua Ventures.
Existing investors Salesforce Ventures, Runa Capital, RRE Ventures, Lumia Capital, Compound and Lerer Hippeau Ventures also contributed to the round.
London-based DigitalGenius was founded by Bogdan Maksak, Dmitry Aksenov and Mikhail Naumov in 2013. Its Human+AI Customer Service Platform uses deep learning algorithms that are trained on historical customer service transcripts.
It aims to automate and improve the quality and efficiency of customer support conversations across multiple text-based communication channels such as email, chat, social media, and mobile messaging.
This reduces average handling time and automates repetitive questions. It also suggests the right answers to your customer service team, allowing them to focus on delivering a superior customer experience.
Its customers include KLM Royal Dutch Airlines, Unilever, Eurostar, Soylent, TravelBird, as well as its first government partnership with the Aylesbury Vale District Council.
The finance brings total funding into the company to $26m and will be used to invest in commercial expansion and to accelerate product development.
DigitalGenius has also announced the appointment of Roque Versace as its new chief revenue officer (CRO), who has 15 years of experience in the Software-as-a-Service industry including being responsible for corporate sales at Salesforce.com.
The investment marks the latest in a series of AI deals for MMC Ventures, after it invested in maintenance software firm Senseye earlier this month, data analytics service Peak in September, content acceleration company StoryStream in August, and monitoring platform Signal Media in December 2016.
In October, an independent review of the UK’s AI sector found that the industry had the potential to add up to £630bn to the economy by 2035. The report recommended businesses could sponsor students on masters level courses in AI, and work with businesses to create a UK AI Council.
Aksenov commented: “With this capital, we are fortifying our position as the leader in practical applications of AI for Customer Service.
“Our technology works as an intelligence layer on top of existing customer service platforms to automate and significantly speed up case resolution, transforming the way work is being done in contact centres.”