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Netomi Empowers AI Customer Experiences With New Funding

The Series B funding helps fuel Netomi’s growth as the AI customer experience platform is expected to triple revenue in 2021.

David Pepin

By 2020, more than 80 percent of business marketers had already reported using chatbots in their customer experience strategies. Marketing and sales teams around the world are beginning to invest more resources into AI for customer experiences; and they are being rewarded for it with high engagement and satisfaction rates.

Netomi, one of the industry’s top AI-first customer service platforms, has announced it will be upgrading its customer experiences thanks to $30 million in Series B funding. The investment was led by WndrCo and existing investors Eldridge and Fin Venture Capital to bring its total funding to $52 million.

“Customer service is going through a crisis – it’s expensive for businesses, frustrating for customers and inconvenient for everyone,” said Puneet Mehta, Founder and CEO of Netomi.

“This situation is only exacerbated post-pandemic due to labor shortages and the global supply chain slowdown. Customer care teams have more support tickets than ever before and fewer people to solve them. The only proven option to provide 24/7, immediate and omnichannel support and build profitable customer relationships is with AI.”

With the new funding, Netomi aims to further develop its product to empower quality customer interactions. According to Netomi, the solution resolves over 80% of routine consumer questions without any human intervention thanks to AI and chatbot technology.

By taking advantage of integrations with top softwares such as Zendesk, Salesforce, Shopify, and Khoros, Netomi’s solution helps users reduce costs and increase customer satisfaction, loyalty, and engagement.

Related: Zendesk Acquires Momentive To Expand Market Growth

Just in 2020, the company experienced 300 percent revenue growth and is currently on track to post similar growth through 2021. The new funding will help the company accelerate its growth and invest more in the development of its product and team. Around the world, Netomi works with enterprise customers such as WestJet, Warner Bros Pictures, HP, LifeWorks, and 2K Games.

“The rate of digital transformation is going to be 10X more over the next ten years than the last ten. One of the most exciting areas will be in the area of customer experience,” said Jeffrey Katzenberg, Co-Founder & Managing Partner of WndrCo. “Netomi’s AI is transforming how companies and their customers interact, and helping them create deeper and more profitable customer relationships.”