HearstLab Invests Second Round of Funding Into Customer Service SAAS HiOperator, Which Quadrupled Revenue In 2020
Funding will be directed toward testing automated responses to customer tickets and increasing workflows, propelling company growth
HiOperator, a scalable customer service-as-a-service solution, today announced additional funding from HearstLab — an investor in women-led startups under leading global, diversified media, information and services company Hearst. HearstLab’s first round of funding in HiOperator drove its participation in the Lab’s unique, yearlong residency program designed to support early-stage startups at the start of their high-growth journey. During that time, HiOperator proved it can implement technology to augment agents’ customer service messages and boost productivity effectively. The second round of funding will be used to advance automation in customer service through automated responses and will increase the percentage of tickets that auto-triage into workflows with a goal of an industry-first 70% automation.
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HiOperator is a tech-enabled business process outsourcing (BPO) company, combining automation, artificial intelligence (AI) and highly empathetic U.S.-based customer service agents. The unique pairing drives its success: Automation ensures the small, but essential, details (i.e., notes, refunds, replacements) are not forgotten, while the human element ensures authentic interaction with customers.
“We see this additional investment from HearstLab as a testament to their belief in us as a company,” said Liz Tsai, founder and CEO of HiOperator. “We aim to revolutionize the customer service space, an industry that has long been thought of as highly unleveraged. By implementing AI to handle processes, we can hire more qualified individuals who are tech-savvy and compassionate. Our goal is to shift the customer service role into a more highly skilled position.”
“We are extremely impressed with what HiOperator has been able to accomplish so quickly by taking a good idea and making it into a fast-growing company,” said Eve Burton, EVP, Hearst, and Chairperson, HearstLab. “Liz has a great track record of leading highly capital-efficient growth, driven by product-market fit. We believe HiOperator under Liz’s leadership is innovative and has strong technology, and that she and the team have executed flawlessly. We are delighted to continue contributing capital and services to this company that we believe will be a game changer for the customer care industry. At HearstLab, we take pride in supporting women-led companies that create highly effective and diverse teams and build big companies. Liz and HiOperator fit that profile.”
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