Cloud-software company Neuron7.ai has raised $4.2 million in seed funding round from Nexus Venture Partners and Battery Ventures. The funds will be used to expand its engineering, product, and sales teams.
The company, led by repeat entrepreneurs Niken Patel and Vinay Saini, is helping drive the transformation of customer service into a cloud-based AI-powered workflow, particularly for companies managing complex products in technology, manufacturing, and healthcare, where service organizations are required to support hundreds of product models, versions, errors, and issues, the statement said.
“Our value increases multi-fold when our centralized intelligence platform provides predictions across different parts of the service business – Tier 1 service centers, repair, field technicians, etc. AI-driven diagnostics and resolution predictions are just the start. Our vision is that service decisions at scale within a company are accurately taken via a Service Intelligence system of record,” said Neuron7.ai founder and CEO Niken Patel. “As multiple industries move to an outcome-as-a-service subscription model, platforms like Neuron7.ai are going to be foundational to a company’s service business.”
“The signal or prediction accuracy is achieved when AI works across heterogeneous datasets. For a particular industry, the signal could be in the combination of technician notes, device data and service manuals. And that is where Neuron7 excels. Our point of view is that service-intelligence solutions are going to be massively successful when they are industry-specific. Or even specific to a particular device or machine,” said Amit Verma, Neuron7.ai engineering head.
“We’re thrilled to partner with Niken and Vinay. They are not only serial entrepreneurs, but also domain experts who have deployed service solutions at hundreds of customers in the past. We believe service intelligence is an absolute eventuality in the $350 billion customer-service market,” said Abhishek Sharma, managing director at Nexus Venture Partners, who joins the company’s board.
“We were drawn to Neuron7.ai because of the company’s unique ability to capture data from various sources including case history, knowledge articles and industry-specific workflows to optimize the customer-care center and field-service workflows,” added Dharmesh Thakker, general partner at Battery Ventures. “Neuron7.ai’s focus on complex devices, where issue resolution is complex, provides large enterprises an opportunity to convert cost centers into recurring revenue streams.”
Other early backers and advisors of the company include Akash Palkhiwala, CFO Qualcomm; Ashish Agarwal, CEO Neudesic Global Services; Kintan Brahmbhatt, GM Amazon Podcasts; and Anand Chandrasekaran, EVP Five9.
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