Integrate.ai, which is a Toronto, Canada- and San Francisco, CA-based based AI customer interaction software company, today in a report revealed that they has raised an amount of $30m in the funding round of Series A.
The round, which valued the company at over an amount of $100, was led by some of the prominient investor which includes the Portag3 Ventures, with participation from existing investors Georgian Partners and Real Ventures.
The company as of now is going to use those funds to expand its operations and client base in the United States.
The startup which is led by Steve Irvine, founder and CEO, and Jason Silver, COO, Integrate.ai is building the Trusted Signals Exchange, which is a cloud-based software platform which will allows enterprises to increase revenue and customer loyalty with the help of a combination of applications which is focused on consumer decisions and access to cross-industry intelligence by sharing insights and learnings about consumer behaviour (without leaking competitive IP or compromising consumer privacy). Canadian corporations include Telus and Corus Entertainment, among others.
“Obviously they’ve got a finite amount of budget for those — they need to find a way to be able to best deploy those… And the challenge that they have is they don’t have a lot of information on people as they start through this funnel — and so they have what is a classic ‘cold start’ problem in machine learning. And they have a tough time allocating those resources most effectively.”
“One of the things that we’ve been able to help them with is to, essentially, find the likelihood of those people to be able to convert earlier by being able to bring in some interesting new signal for them,” he continues. “Which allows them to not focus a lot of their revenue or a lot of those incentives on people who either have a low likelihood of conversion or are most likely to convert. And they can direct all of those resources at the people in the middle of the distribution — where that type of a nudge, that discount, might be the difference between them converting or not.”
You may also like: