The company's intelligent support platform helps Chief Customer Officers and VPs of Customer Support/Success extract customer voice from the company's existing data, eliminating the need to run expensive survey programs.
FREMONT, CA: The world's first intelligent support platform for customer support/success teams, SupportLogic, secured USD 12 million in a seed funding Series A round led by Sorenson Ventures. This latest series A round will help the company drive it's market expansion and fuel customer acquisition efforts. The company was founded in 2016 by Krishna Raj Raja. Previously, he had established VMware's office in India in 2004 and scaled that company's support functions across the globe. This experience gave him insights on collaboration challenges between technical support, engineering, and product teams, and SupportLogic emerged to fill that gap.
"SupportLogic's easy-to-deploy platform seamlessly integrates to their clients' existing systems of record through APIs and an in-house cloud, which enables them to quickly get up-and-running in weeks without the need for any IT or computer resources or investing time or money in replacing tools. It identifies and extracts signals or key information from customer interactions using Natural Language Processing and Neural Networks," said Krishna.
The company's intelligent support platform helps Chief Customer Officers and VPs of Customer Support/Success extract customer voice from the company's existing data, eliminating the need to run expensive survey programs. SupportLogic reads every support ticket using natural language processing and in-depth neural network methodologies. The software extracts sentiment and other latent signals then maintain context across ticket boundaries.
"The role of support has changed due to the rise of SaaS, the subscription economy, and product-led growth. Companies must iterate their products faster than ever before, and customer churn has become a monthly concern," added Krishna. "70 percent of customer engagement happens via support and support dataset contains valuable insights about how customers feel about the product. It's critical to extract signals from this dataset and foster collaboration between support, sales, customer success, and product teams. This trend has only been further driven by the recent global pandemic — organizations are forced to rethink their product strategy and look for tools that facilitate remote collaboration."
SupportLogic was listed as one of the 20 Most Promising Technology Companies founded and managed by Indians in the U.S. by Silicon India magazine in 2019. The company has enabled organizations to reduce their operational costs by 35 percent, reduce costly customer escalations and appeasements by up to 40 percent, and reduce mean time to resolution by 25 percent while helping them scale their teams and increase customer satisfaction.