Neuron7Grabs $10 Million Funding
Neuron7.ai has raised $10 million in Series A funding led by Battery Ventures and Nexus Venture Partners.
Bill Binch, Operating Partner at Battery Ventures, will help accelerate the company’s growth by joining its board of directors.
Customer and field service organizations are significantly impacted by the following three industry trends:
A unprecedented skills deficit as a result of a wave of baby boomers retiring, resulting in massive losses of ‘tribal knowledge’ about products and customers.
Every day, high-tech electronics, medical devices, and industrial manufacturing equipment become more sophisticated and difficult to support.
Customers are increasingly expecting rapid responses, frequently through self-service portals and chatbots.
With the impending economic crisis, these difficulties will become considerably more acute, and service operational excellence and profitability will be even more important.
Neuron7 uses Artificial Intelligence (AI) and Natural Language Processing (NLP) to assist service organizations in overcoming these challenges and significantly improving service metrics such as first-time fix, tribal knowledge capture, faster turnaround times, call deflections, and customer satisfaction. The Neuron7 Service Intelligence Platform is a cloud-based service that extracts intelligence from an enterprise’s two most important sources of knowledge: data and people. This ‘Collective Intelligence’ is turned into actionable predictions that help people diagnose and resolve any issue in seconds, no matter how complex the issue, and no matter how experienced the service person is.
Neuron7’s differentiation is the end-to-end nature of its Service Intelligence platform, and how elegantly the platform captures tribal knowledge. Seamlessly integrated with existing customer service systems like Salesforce Service Cloud, ServiceNow, and Microsoft D365, customers can start using the platform to address their immediate service pain points, in the channel they want to focus on.
New Neuron7 Customers and Neuron7 Product Innovations
Since its launch last year, Neuron7 has been deployed by Keysight Technologies, Xilinx, Parkview Healthcare, Softtek, and other leading companies.
Neuron7 has also introduced several groundbreaking new AI-powered service intelligence capabilities:
Intelligent Search — comprehends the human context of inquiries in order to obtain the precise answer from a company’s comprehensive body of customer service data and documents Intelligent
Diagnostic Micro predictions at each stage of the diagnostic process lead to success for every issue across all product models. Capture ‘how’ technicians diagnose and resolve each problem.
Intelligent Telemetry transforms data from connected devices into meaningful insights and preventive maintenance recommendations.
Neuron7 intends to use the fresh funds to expand its product and customer success teams in the United States and India. Both teams will enable Neuron7 to continue bringing to market innovative solutions that aid customers as they transition to outcome-as-a-service and predictive service business models.
A stellar list of advisors across domains are helping the company to create the right foundation for growth and innovation — Akash Palkhiwala (CFO, Qualcomm), John Capaldi (ex-SVP Sales Celonis & Qlik), Wenhao Liu (NLP/AI expert, ex-Salesforce, Stanford), Ashish Agarwal (CEO, Neudesic Global Services), etc.
Originally published at https://cxotv.techplusmedia.com on June 27, 2022.