SupportLogic, creator of the proactive support experience (SX) platform, has announced that 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.
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.
“Improving the customer support experience is key to protecting and growing revenue, and SupportLogic is the first solution purpose-built for support and service teams that prevents customer escalations and reduces case backlog to improve overall service levels,” said Krishna Raj Raja, founder and CEO of SupportLogic. “Our high customer demand for our solutions and this oversubscribed funding round indicate strong market validation. We will use these funds to drive growth and develop new product offerings that expand our value to the market.”
“Businesses in all industries are challenged by the need to retain and grow customer relationships, and this has been especially exacerbated during the pandemic era. The ability to assist and enhance customer service teams using AI can elevate a company’s performance and make the difference between success and failure,” said Sumir Chadha, Co-Founder and Managing Director at WestBridge Capital Partners. “We were drawn by the high caliber of SupportLogic customers, who were all strong advocates for the value they get. We invest for the long term and believe that SupportLogic is in a unique position to lead a new era focused on support and service experience, and we see significant growth opportunities ahead.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.