AI-Based Research-Driven Company ASAPP Raises $185 Million

By Amit Chowdhry ● May 3, 2020
  • ASAPP, an artificial intelligence research-driven company advancing the future of productivity and efficiency in customer experience, announced it has raised $185 million

ASAPP, an artificial intelligence research-driven company advancing the future of productivity and efficiency in customer experience, announced it has raised $185 million in Series B funding. Including this round of funding, the company has raised a total of $260 million. Silicon Valley veterans John Doerr, John Chambers, Dave Strohm and Joe Tucci — along with respected institutions Emergence Capital, March Capital Partners, Euclidean Capital, Telstra Ventures, HOF Capital and Vast Ventures — joined this round.

Customer care and sales agents tap into the ASAPP platform to know the right thing to say and the correct actions to take in real-time as the customer conversation transpires on phone calls and digital messages.

ASAPP’s machine learning models are continuously learning and predicting from every customer interaction, effectively turning every agent into your best agent without the need for manual programming or extensive training. And many of the world’s largest companies in telecommunications, financial services, and travel have realized dramatic improvements to both efficiency and effectiveness in how their agents serve customers today.

ASAPP has seen a massive increase in interest for their platform in recent weeks. And the coronavirus pandemic and resulting economic recession are creating significant disruption at contact centers across all industries.

The execution of efficiency measures such as call deflections, hiding contact information from customers, and frustrating chatbots that cannot handle complex transactions has come at the expense of customer satisfaction.

And Customer Experience Officers are looking for fast improvements to their operations to drive significant automation without sacrificing customer experience. And ASAPP is uniquely designed to deliver this promise, not by traditional means, but by radically improving agent labor efficiency and effectiveness with artificial intelligence. Plus ASAPP customers have achieved a 2.5x agent throughput increase while realizing a 45%-100% improvement in customer satisfaction scores as a result of using the platform.

Key Quotes:

“ASAPP builds AI-Native products to solve problems of massive scale and systemic inefficiency. We are thrilled and grateful by this latest investment, which allows ASAPP to continue scaling and meeting the extraordinary demands large enterprises are facing as a result of the global pandemic. Many organizations are experiencing historically high levels of customer interactions at a time when their capacity to support is at an all-time low. By augmenting agents who are on the frontlines, ASAPP enables them to be vastly more efficient and productive, realizing significant savings while delighting customers. Our current focus is in solving customer experience challenges faced by large enterprises, which for decades has been addressed by attempting to deflect customer calls, and has resulted in poor experiences, frustration, and massive amounts of money being spent on this problem. Our approach to cost savings is radically different and focuses on building state-of-the-art capabilities to make agents better and empower them by augmenting and automating their workflows.”

-ASAPP Founder and CEO Gustavo Sapoznik

“ASAPP has created an all-in, AI-Native platform which delivers significant savings and a superior customer experience. Gustavo’s world-class team is creating audacious partnerships with large, forward thinking enterprises. We’re excited to be part of the team by backing ASAPP’s vision.” 

-Investor and ASAPP board member John Doerr