Decagon, a generative AI startup aimed at customer care, has announced that it raised $35m during a Series A and Seed funding round on Tuesday 18 June 2024. Accel led the Series A and Andreessen Horowitz the Seed fundraising rounds.
Decagon Raises $35m In Fundraising Drive For AI-Driven Customer Service
This company claims that it offers a “powerful generative AI platform that mirrors human capabilities, by accurately and autonomously handling complex customer support jobs”. The AI service can reportedly supplement or replace a company’s customer care worker pool.
Based on a Reuters report, OpenAI, which was backed by Microsoft Corporation (MSFT), started the current AI hype with its ChatGPT chatbot at the end of 2022. It sparked an evolution in customer care as it mimics human communications and interactions.
Decagon’s capital backing puts it on the map with other customer support ventures such as Forethought, which, according to Reuters, raised more than $90m from venture capital funds such as New Enterprise Associates.
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According to Reuters, Ivan Zhou, an Accel partner, said that Decagon’s AI stands out because it drives both customer support and internal customer liaison. This includes aspects such as generating software issue reports, evaluating client emails and writing company communications. Decagon co-founder and CEO Jesse Zhang commented:
Customer support chatbots may seem like a crowded space, but we see more ‘fancy demos’ riding the AI hype than products that can truly win the trust of an enterprise company. Decagon has built an AI agent that gives customers a human-like customer support experience by capturing the business complexity of a large enterprise.
