New Investment Will Fuel Continued Growth and Expand SupportLogic’s AI-Based Platform That Improves the Customer Support Experience
SupportLogic, creator of the world’s first proactive support experience (SX) platform, today announced it has closed a $50 million Series B funding round, led by WestBridge Capital Partners and General Catalyst. Existing investors Sierra Ventures and Emergent Ventures also participated in this new funding round.
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The funding will support and accelerate SupportLogic’s growth and ongoing platform innovation, providing organizations with an artificial intelligence (AI)-based, next-generation service solution. This platform allows businesses to understand and act on the “voice of the customer” in real-time to enhance customer service and support, which helps to build brands, improve operational efficiency, and protect and grow revenue.
Recently, SupportLogic was named to CRN Magazine’s 10 Hottest AI Startups of 2021 list and was named a “Hot Startup to Watch” in the 2021 Big50 Startup Report. A number of leading enterprise companies are already using SupportLogic SX, including Cloudera, Databricks, Fivetran, Khoros, Nutanix, Qlik, Rubrik, Snowflake and others. Some customers have reported significant results from their use of SupportLogic, including:
- 40 percent reduction in customer escalations
- 25 percent reduction in customer churn
- 60 percent reduction in case time review
- 35 percent reduction in operational expenses
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SupportLogic was initially developed to augment support ticketing systems by extracting underlying customer sentiment signals from unstructured data using Natural Language Processing (NLP) and surfacing insights and predictions. This intelligence allows managers and executives to prioritize and assign cases to the right agents and preemptively prevent escalations. In February 2021, the company launched Agent SX, providing an easy-to-use console that delivers more context and insights on backlog cases to improve the quality of agents’ responses. In addition, it can adjust future caseloads and provides real-time performance metrics and coaching.