California, The U.S-based artificial intelligence-driven customer and field service software startup Neuron7.ai raised USD 10 million. The Series A round took place on June 23, 2022. Battery Ventures and Nexus Venture Partners led the funding for Neuron7.ai.
As a part of the deal, Bill Binch, operating partner at Battery Ventures, will join Neuron7.ai’s board of directors.
Purpose of Funding by Neuron7.ai
With the recent investment, the startup intends to grow its product and customer teams. It will focus on expansion in regions such as the US and India.
Besides, Neuron7.ai will expand its customer service intelligence platform. It will help the clients to diagnose and resolve issues in seconds.
Investors are taking an interest in AI-driven startups. Earlier in May 2022, ParallelDots raised USD 4.5 million (approximately INR 34.2 crore). US-based Multipoint Capital and Btomorrow Ventures led the firm’s Series A funding back then. Moreover, Avataar raised USD 45 million as a part of its Series B funding. The round was led by Tiger Global and participation by existing investor Sequoia Capital India.
What the CEO has to say
“Knowledge in an enterprise is siloed. Support, field service and engineering expertise are spread across systems, data and experts. Re-thinking the way intelligence is captured and shared across silos in the enterprise, Neuron7.ai creates an enterprise-wide resolution system of record,” said Niken Patel, chief executive officer of Neuron7.ai.
What the investors have to add
“We’re thrilled to be increasing our investment in and strengthening our partnership with Neuron7.ai,” said Abhishek Sharma, Managing Director at Nexus Venture Partners.
“We like Neuron7’s vision of using artificial intelligence and NLP to help customers resolve any issue within seconds and turn customer service into a profit centre,” he added.
In addition, Bill Binch, operating partner at Battery Ventures, said, “Neuron7’s technology is a proven productivity enhancer for its customers. It leads to faster ticket resolution and reduces drag on customer agents—meaning customers are happier because their problem solves faster. We look forward to helping them continue to scale and execute their broader vision.”
About Neuron7.ai
Vinay Saini and Niken Patel co-founded Neuron7.ai in 2022. The startup uses AI and natural language processing (NLP) to help service organisations overcome challenges and improve service metrics. The metrics include the first-time fix, tribal knowledge capture, faster turnaround times, call deflections, and customer satisfaction. Its clientele includes companies such as Keysight Technologies, Xilinx, Parkview Healthcare, Softtek and others.
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