Venture Funding

Agent IQ Rounds Up $6.3 Million


Agent IQ CTO Slaven Bilac (Left), and founder/CEO Craig Davis (Right)
Agent IQ CTO Slaven Bilac (Left), and founder/CEO Craig Davis (Right)

SAN FRANCISCOAgent IQ, the company bringing scalable 1:1 conversations to the enterprise, has raised a $6.3 million Series A round of funding led by Sierra Ventures, with participation from CRCM Ventures and Rubicon Ventures. The funding will be used to expand Agent IQ’s team and scale its leading AI-powered customer support platform used by companies like Nike, Airbnb, Gillette and more. Tim Guleri from Sierra Ventures will also be joining Agent IQ’s Board.

Agent IQ champions a new approach to customer care that brings the human touch back to the forefront. Enterprise companies, who previously preferred programmed chatbots and zero human intervention, are learning that bots are bad for businesses and consumers. Aside from ditching the “bots-only” approach in favor of more human-like interaction, Agent IQ boasts an AI-powered, conversational platform that isn’t merely layered on top of existing infrastructure like competing customer support products.

Agent IQ’s hybrid human/machine platform allows companies to deliver intimate, one-on-one experiences to their customers at scale. Human agents no longer have to handle mundane, low-level requests (e.g., booking plane tickets, returning products) that comprise more than 60 percent of total interactions. Instead, these empowered “super agents” can leave simple inquiries to Agent IQ’s AI, take on more complex requests, and resolve 15x more customer interactions daily.

The company is also the first and only omnichannel solution that combines AI with powerful customer engagement technology to allow agents to interact across channels like webchat, social, email, and voice, resulting in smoother communication and happier customers and employees. This omnichannel approach facilitates cross-team communication and knowledge sharing in the face of rapidly changing number of social networks and tools.

“Bots-only is dead,” said Agent IQ founder and CEO, Craig Davis. “Big-name brands are quickly finding out that customers don’t want to only speak with robots. This is why Agent IQ’s ability to scale intimate one-on-one conversations through AI and save human agents’ expertise for more complicated situations is invaluable to enterprises and their employees. We’re excited to use our new round of funding to build our team and help more enterprise companies restore the human touch.”

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