- Autonomous contact center company Replicant announced it has raised $27 million in Series A funding led by Norwest Venture Partners
Autonomous contact center company Replicant announced it has raised $27 million in Series A funding led by Norwest Venture Partners with participation from returning investors Bloomberg Beta, Costanoa Ventures, and founding investor Atomic. And also joining this round is State Farm Ventures.
Including this funding round, the company has raised a total of $36 million. And the funding will be used to triple Replicant’s R&D and scale its go-to-market teams. Norwest partner Scott Beechuk will join the Replicant board.
Replicant is redefining the contact center of the future by providing always-on and elastic call center capacity that scales to meet customer demand. The speed and accuracy of Replicant’s human-like conversations combined with its CRM and contact center integrations allow call centers to resolve customer service calls in half the time with higher customer satisfaction and 50-75% in cost savings. And Replicant has grown revenue 15X from over the past five months and currently handles over two million customer support calls a month.
Central to Replicant is a neural engine encompassing intent detection and entity recognition, allowing Replicant’s artificial intelligence brain to understand the context and respond within a second to have life-like conversations over the phone. And Replicant’s powerful artificial intelligence platform understands complex and colloquial speech patterns including slang, accents, and technical terms which allows it to instantly recognize customer needs and resolve them quickly for any issue.
Replicant fully integrates with CRM and contact center software allowing it to authenticate callers, resolve the majority of customer service calls, escalate calls with context when needed, and autonomously capture call notes. And Replicant captures and transcribes customer conversations in real-time, makes every call searchable with Google-like search capabilities, and auto-tags conversations by disposition, thus giving companies deeper insights into customer data and key call drivers. And Replicant acts as the call centers’ first line of defense, handling tier-1 calls across any use-case and industry freeing up agents to resolve more complex issues with human empathy and focused attention. Replicant is HIPAA, SOC II, and PCI compliant.
KEY QUOTES:
“Replicant is solving some major challenges for any company that values customer service. Today’s customers expect instant, personalized service, and Replicant’s conversational AI platform delivers this in spades. We’ve been blown away by the company’s growth fueled by the exploding demand for automation and efficiency gains across the world’s largest contact centers.”
— Scott Beechuk, partner at Norwest Venture Partners and former SVP, Product at Salesforce Service Cloud
“It’s time to bring call centers into the twenty-first century and get people off hold. We’ve entered a new era of elastic customer service where automation works hand in hand with agents to improve the customer experience. Replicant was founded on the belief that machines are ready to have useful and complex conversations with people to transform customer service. We’re excited to help more businesses realize this vision.”
— Gadi Shamia, CEO and co-founder of Replicant
