UpdateAI raises $4 million in Series A Funding

UpdateAI raises $4 million in Series A Funding

The latest round brings the company's total funding to $4 million, which includes $1.7 million raised in the previous round.

The new platform, developed by two years of dedicated R&D, harnesses AI by utilizing the conversational AI technology embedded with ChatGPT to identify and analyze the most critical signals for post-sales teams and Customer Success Managers.

Update AI co-founder and CEO Josh Schachter said the fresh capital infusion was used to roll out a solution that saves Customer Success teams time so they focus on their primary tasks on more strategic thinking and scaling of account coverage.

Customer success, as a key commercial function in any SaaS company, is crucial to the SaaS economy's current state. And yet, CS teams are being asked to do more with less and with tools that are unfit, said Josh Schachter, co-founder and CEO of UpdateAI. We are rolling out a solution that will save CS teams significant time that can be invested into more strategic thinking and scaling of account coverage, he said. Jenny Calvert, updateAI user and director of customer success at Hunt Club, said: updateAI allows me to stay completely present in my meetings. I don t need to focus on taking notes or anything else outside of what is happening with my customer. While the current product aims to enhance productivity, the company has abroader vision for the future. Customer Success teams will be able to leverage conversational data in a collaborative and cross-functional way by providing them with the ability to leverage conversational data. By enhancing the role of Customer success, the company aims to unlock fresh prospects for efficient and effective customer engagement across various functions within an organization.

Customer success is often undervalued due to the difficulty in quantifying its core value: effective customer management, said Mickey Powell, head of Go-to-market atUpdateAI. Our platform makes customer conversations tangible, shareable, and insightful. UpdateAI differs from conventional conversational platforms that primarily serve sales teams. The company has a larger vision that involves closely tracking account needs at every stage of the customer journey, enabling seamless collaboration of important call moments across teams, and reducing unproductive customer meetings. By focusing on these elements, UpdateAI aims to build a future where customer interactions are optimized, resulting in better outcomes and improved customer satisfaction.

We are experiencing the dawn of a new era with the advent of generative AI technology, said Howard Morgan, Investor and Board Director atUpdateAI. This groundbreaking innovation has a huge potential to transform various industries, and we are excited to support UpdateAI's vision of revolutionizing customer-centric operations.