Replicant Raises $78 Million in Series B Funding to Automate Customer Service
Leader in Contact Center Automation Set for Further Expansion After Growing More Than 3X in the Past Year
Replicant, the leader in the Contact Center Automation market, announced it has closed its Series B funding of $78 million, bringing its total funding to more than $110 million. Led by Stripes with participation from Salesforce Ventures, IronGrey and Omega Venture Partners, along with returning investor Norwest and founding investor Atomic, the new capital will allow Replicant to make significant investments in product, sales and marketing. Since its launch in 2019, Replicant has helped enterprise customers automate common customer service requests, eliminate wait times and transform customer service calls from dreaded to delightful experiences.
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“Replicant is remaking the $1.3 trillion customer service industry to solve today’s universal and urgent customer service problem,” said Ron Shah, partner at Stripes. “Replicant has cracked the code with an amazing product offering that delivers real, natural-sounding conversations between machines and humans to truly solve, and not just deflect, customer issues. The company’s explosive growth has just scratched the surface of the enormous opportunity ahead. ”
Replicant helps companies retain their own customers, build brand loyalty and reduce costs by automating contact centers to solve common customer service issues with no wait or human interventions. Replicant’s Thinking Machine™ was custom-built to handle complex issues, across channels, in almost any language, and successfully resolve 85% of them. Replicant’s customers can offer 24/7 customer service, with infinite scale, and at half the cost, while improving key customer metrics like Customer Satisfaction Scores.
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Replicant has achieved significant milestones over the past year including:
- 3X annual revenue growth
- Best in Class Net Promoter Score of 90
- Over 30 million successful calls between machines and humans
- 85% success rate across all customers
“Customer experience today is the worst it’s ever been,” said Gadi Shamia, chief executive officer & co-founder of Replicant. “Contact centers are facing an emerging business crisis with fewer agents, rising costs, unpredictable call volumes, and a nation stuck on hold. An increasing number of customer-centric companies like AAA, ADP, and DoorDash are bucking that trend by raising the industry’s bar for great customer service and automating their front-line customer calls to get people answers quickly.”
“Serving our Members quickly and safely is our top priority at CAA. As we see more adverse weather events and continue to grow our Membership, our call volumes are growing as well,” said Tanya Weigelt, director, Club Operations, CAA Club Group. “Replicant has handled thousands of daily service calls from start to resolution, allowing Associates to focus on assisting Members with more complex transactions and high-stress situations. This targeted service delivery has helped us to make sure that all of our Members receive the care and support they expect in their time of need.”
