Is this Customer Support Automation's watershed moment?
What do DevRev, Decagon, Maven AGI, Neuron7.ai, Pylon, and Parloa have in common?
They all raised significant funding recently:
Parloa: $66M Series B (April)
Maven AGI: $20M Series A (May)
Decagon: $30M Series A (June)
DevRev: $100M Series A (August)
Pylon: $17M Series A (August)
Neuron7.ai: $44M Series B (October)
But what’s noteworthy is they all play in the rapidly growing customer support automation space.
Customer support, with its centralized ticket repositories and rich knowledge bases, is arguably one of the most automatable use cases. Furthermore, tickets are tracked alongside their resolutions, creating a robust data foundation for AI-driven solutions.
These solutions overlay customer support software and leverage AI to:
Conduct deep ticket analysis
Push the limits of self-service with generative answers, smart search, and agents
Manage intelligent workflows
Assist support reps by surfacing relevant articles and guiding them through step-by-step resolutions
The customer support automation category is now shy of 40 players. In addition to these more recent entrants, it includes companies like Aisera, Forethought, and SupportLogic which were launched in 2016-2018 timeframe.
Customer support platform providers don't want to be relegated to mere ticketing systems and are responding accordingly.
Last week for example, industry leader Zendesk relaunched its 'complete service solution', integrating several tuck-in acquisitions made in the last 12 months—Tymeshift (workforce management), Klaus (quality management), and Ultimate (service automation).
With six significant funding rounds totaling almost $300M in just the past 6 months, the customer support automation space is one of the most vibrant categories in customer service.