Founded by former Monzo growth specialists, Cordless raises $2.3 million to augment customer support teams with AI

What GPT-3 did for text-based support, London's Cordless wants to do the same for voice-based customer support.
Founded by former Monzo growth specialists, Cordless raises $2.3 million to augment customer support teams with AI

London-based Cordless has raised $2.3 million in a seed funding round led by Fly Ventures, with Passion Capital, Entrepreneur First, and TrueSight participating alongside angel investors including Renaud Visage, (Co-founder of Eventbrite), Tom Blomfield (Founder of Monzo), Ian Hogarth (Founder of Songkick) and Eamon Jubbawy (Founder of Onfido).

The fresh capital will see the company press further forward with product development plans, ramp up customer acquisition efforts, and aim to become generally more prevalent in the customer support ecosystem.

To understand what Cordless is and does is to understand where it comes from and why.

Founded by two female founders - Luba Chudnovets and Irina Bednova, who met at Monzo while they were both part of teams working on the monumental task of scaling customer support during a period of unprecedented growth at the fintech.

One of the key learnings of Chudnovets and Bednova that led to the founding Cordless was that in order to build products that customers want to use, it’s crucial to have a deep understanding of how your customers feel and why they reach out for support. 

We’ve all been forced to use the first line (or perhaps preferred line for some) of defense, the chatbot with varying degrees of success and/or satisfaction. What Chudnovets and Bednova are leveraging with Cordless is the conviction that voice-to-voice calls with customers contain the deepest pockets of actionable feedback and a true opportunity to build a relationship with a customer. 

“We spoke to 100+ customer support leaders and most managers listen to at most 10 calls per week,” explained Chudovets. “This means companies are losing valuable information about how they can improve their service and product.”

Where Cordless wants to help change this pattern is in providing AI-driven conversation intelligence for customer support teams. Think the same method and madness that took over text-based customer support, Cordless brings the power of GPT-3 to the world of voice.

“In 5 years every company that supports voice will use AI to analyse their conversations at scale,” says Bednova.

With customer support often viewed as a cost centre, the status quo when it comes to conversion intelligence tools usually lies squarely in the domain of sales. However, as we’ve probably all experienced at least once or thrice in our lifetime, it’s the customer support teams that in fact keep us happy and engaged customers. 

And if Cordless gets its way, this is only going to get better.

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