Artificial intelligence-backed customer and field service platform Neuron7 has raised Series A funding round of $10 million (around Rs 53 crore) co-led by Nexus Venture Partners and Battery Ventures.
The startup plans to use the fresh funding to grow its product and customer teams in the US, India and expand its customer service intelligence platform to help companies diagnose and resolve issues in seconds.
“Knowledge in an enterprise is siloed. Support, field service and engineering expertise is 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.
Founded in 2020, Neuron7 helps enterprises make accurate service decisions at scale. The platform claims to deliver service predictions in seconds by ingesting and analyzing signals across structured and unstructured enterprise data, as well as input from top experts.
“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,” added Sharma.
“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 is solved faster,” said Bill Binch, operating partner at Battery Ventures.
AI-based startups have been garnering investor attention for quite some time lately.
Last month, ParallelDots, which offers advanced image recognition solutions, raised a Series A funding of $4.5 million (around Rs 34.2 crore) from US-based Multipoint Capital and Btomorrow Ventures.
In January, Avataar, an artificial intelligence (AI) and computer vision platform, raised $45 million as a part of its Series B funding round led by Tiger Global, along with participation from existing investor Sequoia Capital India.