Poland-based AI-driven customer support solutions provider, Zowie has raised around €508K in a seed funding round held in October 2020. The round included participation from Inovo Venture Partners, and multiple Israeli and Polish angel investors including Ariel Finkelstein, who has also joined the company board. The investors have vowed to support Zowie by helping it expand its reach across the European, Middle Eastern, and North American markets.
Capital raised will be used by Zowie to popularize itself in English-speaking markets and develop the product’s technology.
Previously known as Chatbotize, Zowie’s leading product is a customer support system that analyzes past as well as live conversations to produce ready-to-use chat and email automation. Up to now, clients using the technology have been able to automate 50 million engagements per month.
The 2-year old startup has witnessed a good growth probably due to the COVID-19 pandemic, with the Polish government using its AI chatbot to provide information and guidance to citizens affected by the virus. Since January 2020, the startup has recorded average monthly progress of 12%, abetted by its focus on e-commerce, whose worth has grown due to the effects of coronavirus and the ensuing lockdown.
Maja Schaefer, Zowie CEO and co-founder said that most of the questions that customer support service crews deal with are similar and time-consuming. She further added that Zowie enables companies to automatically answer these questions and immediately solve the most common issues, therefore giving customer support managers more time to deal with complex questions. She was quoted to say, “We have already proved our technology works and gained trust of Polish and CEE customers. Now we want to help companies from all over the world.”
Maja Schaefer was earlier an IBM programmer and is also known for creating software house Codeheroes. She has featured in the Forbes 30 Under 30 and is also the winner of a domestic female startup competition.
Michal Rokosz, Partner at Inovo Venture Partners quoted, “We met Maja a year before at an industry conference wherein she impressed us by prioritizing talking to customers over the VC funds.”
The startup’s emphasis on the customer is perhaps the reason why Zowie managed to achieve a funding of $500K in just a year and a half without any external funding, which is something really remarkable in the Central and Eastern Europe region.
Zowie has also managed to completely convert itself from a services provider to a product company, in just 1 year. They have also partnered with a group of prestigious customers that find great value in their solution. Michal Rokosz also feels that the potential market size of this industry might make this business worth hundreds of millions of dollars.
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