- Chat bot startup Ada Support recently announced it raised $130 million in funding at a $1.2 billion valuation. These are the details.
Chat bot startup Ada Support recently announced it raised $130 million in funding at a $1.2 billion valuation. This round of funding was led by Spark Capital with participation from Tiger Global Management and existing investors including Bessemer Venture Partners, Accel, and FirstMark Capital.
Some of Ada’s clients include Facebook and Zoom Video. Those companies utilize Ada to help them interact with users through automated chat boxes. And the company’s bots utilize AI to answer customer service questions. Through these bots, customers are able to return packages and make adjustments to flight itineraries.
Spark Capital partner Yasmin Razavi pointed out that Adam’s momentum was partially driven by the coronavirus pandemic as there have been more customer interactions online.
In an interview with Bloomberg, Chief Executive Officer Mike Murchison said that Ada is known as a no-code platform as it does not require advanced technical skills to implement. The ease of use also drove the company’s growth.
