AptEdge – a generative AI startup building an answer engine for customer service – announced it has raised an oversubscribed $11 million seed+ round led by Stage 2 Capital with other investors (Unusual Ventures, National Grid Partners, Carya Venture Partners, Counterpart Ventures) to support momentum behind its revolutionary solution for the customer service industry.
The company’s contextual answer engine understands all the knowledge across the support team’s workflows. And its carefully tuned AI search layer surfaces customer service help desk knowledge scattered around a business’s digital platforms while its generative AI capabilities – through OpenAI’s ChatGPT – and other language models, create concise, easy-to-follow answers for frontline support to share with customers.
AptEdge’s AnswerGPT is available directly in existing customer service and CRM platforms like Salesforce, ServiceNow, and Zendesk. And the company has seen its customer base grow by over 300% since 2022.
Aakrit and Anthony founded AptEdge in 2020 after a successful exit of AppDynamics to Cisco for $4 billion. And they realized AI was advancing quickly enough to provide real-time, fully generated responses to technical customer service queries, and pivoted to invest heavily in the platform’s AI technology.
AnswerGPT crawls all sources of enterprise knowledge, often spread across multiple services including Salesforce, Confluence, Sharepoint, Slack/MSTeams, ServiceNow, Jira, Zendesk, and more. AndAptEdge AI functionality quickly finds contextual information and recommends concise customer responses. AptEdge counts Cisco, EverBridge and Hexagon among its enterprise customers. Plus the company plans to deploy the funds in further developing the product; incorporating new language models as they launch; and additional connectors to sources of industry and in-house knowledge.
KEY QUOTES:
“We’re excited to close this round and get back to expanding and servicing our rapidly growing customer base behind the rollout AnswerGPT – the leading customer care solution.”
“Having experienced this problem while scaling AppDynamics made us realize every company had this problem and now we’ve shown that generative AI combined with enterprise AI search technology can truly augment human customer service agents, fundamentally improving the time to resolve technical customer service requests, and making each agent a 10x multiplier for their business.”
— Aakrit Prasad, CEO and co-founder of AptEdge
“Customer questions and support tickets continue to rise which is putting incredible pressure on support teams that are facing tightening budgets and can no longer afford to throw bodies at the problem. The team at AptEdge is arming support teams with AI to help them increase CSAT and lower annoying wait times for customers. When we shared the value prop of AptEdge with our LPs, it was an instant no-brainer seeing how their value prop resonated. AnswerGPT will set the bar for how support teams find answers for their customers.”
— Stage 2 Capital Co-Founder, Jay Po
“We partnered with AptEdge to provide fast, high-quality answers to all our customer’s problems. The product is fast and easy to use.”
— Charles Coaxum, VP of customer experience at Cisco
