Cloud software start-up Neuron7 on Tuesday said it has raised seed investment of USD 4.2 million from Nexus Venture Partners and Battery Ventures. The company plans to use the new funds to expand its engineering, product, and sales team, Neuronu7.ai said in the statement.
“Our value increases multi-fold when our centralized intelligence platform provides predictions across different parts of the service business Tier 1 service centers, repair, field technicians, etc. AI-driven diagnostics and resolution predictions are just the start. Our vision is that service decisions at scale within a company are accurately taken via a Service Intelligence system of record, Neuron7.ai founder and CEO Niken Patel said.
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The company provides a cloud-based AI-powered workflow, particularly for companies managing complex products in technology, manufacturing, and healthcare, where service organizations are required to support hundreds of product models, versions, errors, and issues. Neuron7 has five resources based in Bangalore which includes data scientists, natural language processing (NLP) and artificial intelligence (AI) experts, data engineers. It plans to increase the team to 20 by next year and add core product development capabilities and AI/NLP teams.
“We believe service intelligence is an absolute eventuality in the USD 350 billion customer-service market, Nexus Venture Partners managing director Abhishek Sharma said. He will join the company’s board. “We were drawn to Neuron7 because of the company’s unique ability to capture data from various sources including case history, knowledge articles and industry-specific workflows to optimize the customer-care center and field-service workflows,” Battery Ventures general partner Dharmesh Thakker said.
Other early backers and advisors of the company include Qualcomm CFO Akash Palkhiwala, Neudesic Global Services CEO Ashish Agarwal, Amazon Podcasts GM Kintan Brahmbhatt and Five9 EVP Anand Chandrasekaran.