CommBox, a leading enterprise-grade omnichannel AI-based customer experience platform, announced the completion of a $15 million growth investment round from PSG Equity – which is a leading growth equity firm that specializes in partnering with software and technology-enabled services companies to help navigate and capitalize on transformational growth.
This funding follows PSG Equity’s original 2021 investment and will be used to help expand CommBox’s global footprint and enhance its innovative AI-powered solution.
CommBox’s platform aims to rapidly deploy AI bots capable of resolving complex customer inquiries – those requiring secure access to third-party systems or personalization. And this is done through advanced automation capabilities and seamless integration, wrapped in enterprise-grade security. CommBox’s security-by-design approach helps mitigate compliance risks and helps prevent security breaches, featuring:
1.) Compliance Adherence – Fully compliant with SOC2, ISO, PCI, and GDPR.
2.) Data Protection – Implements strong guardrails around data storage, model training, and encryption.
3.) Rapid Deployment – Enables brands to quickly implement AI-powered communications without compromising security.
Even though the market for chatbots and customer experience automation is perceived as mature, many sectors such as financial services and healthcare, still fail to utilize the full potential of the technology beyond collecting customer data before passing customers to a human agent for resolution. This is due to a lack of advanced automation and integration capabilities to securely perform the required back-end business tasks, such as authentication or sensitive data integration.
KEY QUOTES:
“We’re proud to be entrusted by PSG to continue our mission to build better, more seamless, and innovative customer experiences. Our platform enables rapid deployment of conversational AI for enterprises, automating customer interactions and business processes whilst ensuring enterprise-level protection and privacy to secure AI deployments. Through PSG’s strategic investment, we will seek to grow our footprint in Europe and North America, as well as further boost our already expansive R&D in AI and harness this to continue enhancing our platform’s capabilities.”
– Dvir Hoffman, CEO of CommBox
“We believe that the CommBox platform has evolved into a powerful, strategic platform for enterprises that want to help rapidly and securely reap the benefits of AI for customer communications. We’re thrilled to further our investment in CommBox as the company aims to solidify its footprint in Europe and North America.”
– Tom Reardon, Managing Director at PSG Equity
