Dublin-based customer experience solution, EdgeTier is using AI to improve customer experience in call centres. Its SaaS solution gives real-time insights on customer conversational data using natural language processing to monitor customer conversations across all channels, 24/7, in multilingual environments.
EdgeTier has raised €6 million in Series A funding which will lead to the creation of nearly 50 jobs, as it expands its team from 22 to 70, between Spain and Ireland, over the next two years. The round was led by Smedvig Capital and includes Episode 1 and Act Venture Capital.
Hiring will be seen across product, commercial, and operations functions.
“Companies will simply not be able to compete without AI and machine learning augmenting their ability to understand and support their customers at scale. We want to help more contact centres and customer experience professionals recover the missed insights in their conversations, react faster to changes, and have the data they need at their fingertips to make decisions. Over the fundraise, we've been really impressed with the Smedvig team; Joe and Maeve are already bringing great value to the business and I'm really excited to partner with them now on the journey ahead,” says Dr. Shane Lynn, CEO and co-founder of EdgeTier.
The company was founded in 2015 by Lynn, Dr. Bart Lehane, and Ciarán Tobin, and last year it says it saw 3.5X growth. It also counts Zendesk, Kustomer, Intercom, Salesforce, LivePerson among its client roster.
“We’ve been impressed with EdgeTier from day one. The company has achieved an extraordinary rate of growth on very little capital. The quality of its team is key to this; the founders have the AI expertise and commercial acumen needed to continue landing new clients and leading the way on product innovation. We’re at the beginning of a wave of AI-enabled improvements to customer service, and EdgeTier is well positioned to lead this category to become the de facto data solution for contact centres. The fact that EdgeTier has not lost a single customer to date and has an upsell rate of 150% is evidence that innovative and customer-centric brands are embracing the solution and unlocking tangible value from AI right now,” says Joe Knowles, Partner at Smedvig Capital.
Main image: Ciarán Tobin, Dr. Bart Lehane, Dr. Shane Lynn