First-of-its-kind voice assistant set to transform automotive service industry; this investment brings RAIN’s total funding to $15M
RAIN Technology Inc., a leader in voice and conversational AI, announced it has raised an $11 million Series B round, including investment from Valor Capital, McLarty Diversified Holdings, and Burch Creative Capital, to commercialize and scale productivity-focused voice assistants.
Scott Sobel, Managing Partner of Valor, commented: “We are pleased to continue to invest in RAIN based on their extraordinary team and progress in applying voice AI to help simplify complex workflows for their customers. RAIN has a long track record of building best in class solutions for leading global brands and this new round of financing will help accelerate RAIN’s product roadmap.”
This investment builds on a $3 million Series A investment in RAIN led by Stanley Ventures, the venture arm of Stanley Black & Decker, in 2020, bringing total funding to $15M. Founded by Brian Edelman and Nick Godfrey, RAIN has spent the last seven years working at the forefront of voice technology, building the depth and breadth of capability required to deliver high-performing, highly-customized voice assistants.
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With this investment, RAIN will continue to build voice-first products geared toward increasing productivity for deskless workers – a diverse group of professionals that represents 80% of the global workforce – by making their jobs easier, safer, and more productive.
“A large majority of professionals who rely on access to job-critical information have been underserved by clunky, outdated software. This can materially disrupt workflow,” said Nithya Thadani, CEO of RAIN. “RAIN is building ‘professional-grade’ voice assistants that surface key data quickly and naturally, sifting the signal from the noise.”
RAIN’s first product is designed to bring newfound efficiency to automotive service and repair. Amidst steeply rising industry demand, the automotive aftermarket industry, which services and repairs light-, medium- and heavy-duty vehicles, is projected at $439 billion in 2022 . Technician-friendly technologies that significantly improve productivity will be paramount in meeting customer demand, as well as in attracting the next generation of talent to a field that is rapidly changing with advances in car technology and electric vehicles.
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