Startup Emerges from Stealth Mode to Transform Customer Relationships
Bonobo AI, the first AI-powered conversational intelligence platform built to help customer-facing teams drive conversion, retention, and upsell, has raised a $4.5 Million seed funding round led by G20 Ventures and Capri Ventures.
Bonobo AI is the conversational intelligence platform for organizations seeking to know their customers and grow customer relationships at scale. The platform centralizes fragmented customer interaction data from across channels and leverages AI to power action-ready insights from throughout the customer journey.
The company, which just emerged from stealth mode to scale its operations, has bootstrapped its way to strong global market traction over the past year. To date, Bonobo AI has analyzed more than a billion customer interactions.
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“The richest insights into customer behavior come from unstructured data like voice and chat,” said Efrat Rapoport, co-founder and CEO. “But those data points have historically been impossible to analyze and leverage at scale. Bonobo AI’s vision is to use artificial intelligence to transform the way that businesses relate to their customers – creating happier customers and more profitable relationships.”
Bonobo AI’s executive team includes seasoned leaders with global go-to-market and AI experience: 28 year-old Rapoport was selected as a member of Forbes 30 under 30 just years after she completed her master’s degree, while the technical leadership team boasts credentials from elite Israeli intelligence forces. In 2017, the company was tapped as part of Oracle’s inaugural Startup Ecosystem in Tel Aviv.
Board member Don Duet, former Global Head of Technology at Goldman Sachs, added, “Bonobo AI is doing something that no one else in the market is: using conversational data to help businesses from retail to SaaS understand what makes their customers tick. They’re placing the voice of the customer at the center of boardroom discussions and company strategy.”
Bonobo AI works by directly integrating with a company’s sources of customer interaction data (including voice, chat, video, and email). The platform then runs AI algorithms to classify and bucket customers based on their interactions with the company: for example, customers who might have a propensity for upsell, or who might represent a legal or compliance risk.
Out-of-the-box reporting makes it easy for front-line leaders to review key interactions, take action on customer segments at pivotal moments, and glean insights that can be used to improve product and service delivery.
Efrat Partouche, head of Customer Success and Sales for DreamCloud : “Bonobo AI helped us uncover patterns across various conversational channels. By using AI to mine the conversations of people calling in to buy a mattress, we are able to identify bottlenecks and improve our process to increase sales”