A naukri.com initiative
Economic Times
3w
171
Image Credit: Economic Times
Customer service AI startup Decagon raises $131 million
- Decagon, a customer service AI startup, raised $131 million in a funding round that valued the company at $1.5 billion.
- The Series C round was led by Accel and Andreessen Horowitz, with participation from existing investors A*, Bain Capital Ventures, and BOND.
- Decagon's funding round comes less than a year after a Series B round where it raised $65 million at a $650 million valuation.
- The company competes with giants like Salesforce and startups like Sierra, led by OpenAI board chairman Bret Taylor.
- Sierra, a competitor, raised $175 million in a funding round with a $4.5 billion valuation in October.
- Decagon has caught investor interest since OpenAI's ChatGPT model, with a focus on AI applications that generate steady revenue.
- Decagon's clientele includes Hertz, Duolingo, Eventbrite, and Chime.
- Chime experienced a 60% reduction in contact center costs and a higher net promoter score using Decagon's services.
- Decagon offers text-based AI customer support like chat and email, as well as AI voice agents for customer support calls.
- The company's tools enable enterprises to build their AI customer support solutions.
Read Full Article
10 Likes
For uninterrupted reading, download the app