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Toronto’s Ada, a leader in Automated Customer Experience (ACX), today announced it has raised USD $44 million in a Series B funding round led by Accel, with participation from existing investors Bessemer Venture Partners, FirstMark, Version One, Leaders Fund and Burst Capital.
Ada’s AI-powered customer service chatbot helps business leaders such as Mailchimp, Shopify, Telus, and Zoom reduce costs and increase satisfaction across more than 30 million personalized customer conversations annually.
Ada is named after Ada Lovelace who is widely regarded as the world’s first computer programmer.
The startup will use the investment to scale the platform, deepen its AI leadership and provide enhanced functionality across traditional business silos, including helping organizations optimize operations by benchmarking efficiency gains against customer satisfaction.
“Although AI gets thrown around a lot in the enterprise, we are focused on companies offering solutions that are driving real business value, and Ada is doing exactly that. Ada is breaking through the crowded market of chatbots to define a new category of automated customer experience that can manage far greater customer inquiry volumes while delivering some of the strongest customer satisfaction scores we’ve seen,” said Ben Fletcher, partner at Accel, in a released statement.
Ada is currently hiring for a variety of roles in Toronto.
“Our founding team spent over a year in the trenches of customer support and saw first-hand that existing solutions just couldn’t scale in the face of soaring ticket volumes and sky-high customer expectations,” said Mike Murchison, Co-founder, and CEO of Ada.
“We designed Ada to help customer service teams take advantage of all the benefits of automation without sacrificing the personalized touches that are so essential to winning loyal, long-term customers. Ada will use this investment to lead the next phase of this market, extending our best-in-class AI with the aim of delivering personalized experiences across all customer properties, while providing more tools to help businesses better calibrate their customer service strategy and optimize their bottom line.”