AI Innovation Leader Raises $5 Million Series A Funding to Revolutionize Customer Interactions
Augment, a leader in customer experience-driven artificial intelligence (AI), emerged from stealth, with the launch of its industry-first customer experience AI platform. Unlike first generation chatbot providers that attempt to remove humans from customer interactions, Augment’s “human-in-the-loop” approach allows brand representatives to deliver superior customer experience through live chat applications — backed by powerful machine learning and a training set of over 100 million interactions. With a founding team of data science and enterprise veterans coming out of parent company Silicon Valley Software Group, the company has raised the first round of Series A funding of $5 million from Silicon Valley Data Capital and JAZZ Venture Partners.
Augment’s customer experience AI technology is designed to streamline the customer journey and maximize support teams’ performance using modern short messaging tools such as live chat. With unique applications of AI algorithms, Augment utilizes existing product and customer data across the enterprise to surface the most relevant suggestions in real time. Augment’s data sets are optimized based on responses made by people, and continuously learns based on every customer interaction. Armed with the best-suggested responses based on a specific customer situation, call center agents are able to engage in better conversations, address customer issues and, ultimately, convert more interactions into revenue.
“Enterprises spend over $500B globally on customer support, but their processes are so inefficient with call center agents often ‘flying blind’ without access to rich customer and product data. The call center industry is ripe and overdue for disruption. Augment’s automated approach to the customer experience process and their world-class team of AI experts and enterprise veterans is the perfect combination to lead this industry transformation,” said Jim McLean, Founder of Silicon Valley Data Capital.
“Early AI applications for CRM have been challenged by industry expectations. Augment presents a new vision for deep learning that we share and which we feel will benefit our brand. Augment’s human-in-the-loop AI platform fits our needs to boost the productivity of our agents while improving the overall customer experience,” said Jamie Young, Senior Director of Customer Experience for Dyson.