Artificial Intelligence Platform Provider ASAPP Raises $120 Million to Drive Greater Performance of Customer Experience (CX) Teams
Series C to Fuel Growth in Applying AI to Address Untapped Human Productivity Opportunity in Contact Centers
NEW YORK, May 19, 2021— ASAPP, Inc., the artificial intelligence research-driven company, announced today it raised $120 million in Series C financing. This brings ASAPP’s total funding to $400 million and doubles the company’s valuation to $1.6 billion from its Series B financing a year ago.
ASAPP welcomed new investors Fidelity Management & Research Company LLC and Dragoneer along with existing investors John Doerr, March Capital, Emergence Capital, Euclidean Capital, HOF Capital, Telstra Ventures and 40 North Ventures.
“ASAPP is one of the few companies advancing research and development in artificial intelligence and its application for customer experience. In an environment where customer expectations are rising, ASAPP is helping large enterprises advance digital engagement, real-time voice transcription, speech analytics, and live agent coaching and analytics,” said Gustavo Sapoznik, ASAPP founder and CEO. “The Customer Experience (CX) industry is at a crossroads. After years of interactive voice response systems (IVR) and bot investments, customer satisfaction is down, and costs have increased. We apply our AI research to make people in contact centers wildly more productive because existing rules-based technology and architectures limit companies to small improvements that can’t bridge the digital transformation opportunity that AI is enabling and delivering.”
“ASAPP’s growth doubled last year, as we continue to deliver for customers like JetBlue and DISH Network with automation that supports both agents and agent-less interactions with their customers,” said Tim Stone, ASAPP’s Chief Operating Officer and Chief Financial Officer. “This Series C financing will enable ASAPP to increase investment in ASAPP’s AI Native®, Customer Experience Performance (CXP) platform™ that helps global enterprise customers drive differentiated customer experiences, revenue, cost reductions and automation designed to support employees in customer service and sales.”
Jason Green, founder of Emergence Capital who joined the ASAPP board recently said: “ASAPP is leading the way with the world’s best AI talent and technology to help global enterprises dramatically improve customer experience, reduce costs and drive sales in a trillion-dollar market. By marrying human creativity, intelligence and empathy with artificial intelligence, the company is arming businesses with a next generation of productivity applications that every business at scale will eventually need to adopt.”
ASAPP builds AI Native® products to solve problems of massive scale and inefficiency. With the Customer Experience Performance (CXP) platform™, contact centers can create better experiences and handle more customer engagement volume in less time, while consumers enjoy faster resolution to their needs.
ASAPP is a research-based artificial intelligence software provider committed to solving how enterprises and their customers engage. Inspired by large, complex, and data-rich problems, ASAPP advances the state-of-the-art in automatic speech recognition, natural language processing, machine learning and task-oriented dialog. Leading businesses rely on ASAPP AI Native® technology to elevate the performance of customer experience teams. To learn more about ASAPP innovations, visit www.asapp.com for more information.