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Kustomer Raises $60M to Transform Its Omnichannel CRM Platform

SaaS-based customer relationship management company Kustomer announced that it has raised $60 million to improve customer support experience by providing buyers’ transaction history and pages they have viewed and making the information available to company representatives in one interface.

The start-up provides customer service interaction between agents and users via different channels such as email, WhatsApp, and Facebook Messenger. To facilitate the interaction further and automate it partly, the company recently introduced a new tool, KustomerIQ, to leverage artificial intelligence and machine learning. With the new solution, the tool automatically classifies conversation and defines which agent is the most appropriate one to deal with the given inquiry. It also uses natural language processing (NLP) to identify the conversation language to route the customer to the agent who speaks the same language.

Source: Kustomer

Since its foundation in 2015, Kustomer has raised $173.5 million, and the recent $60 million fund from its new investor, Coatue, will support opening a new office in Europe in 2020.

Our Take

Due to technology improvements, customers are expecting more from businesses. They anticipate quicker resolutions to problems and better communications with their end users. Leveraging IT automation solves the issues that companies may have had with managing the relationship between agents and clients. Moreover, coupling data with client support expedites customer service by getting user response instantaneously and saves money by solving customer issues faster.

The omnichannel concept of Kustomer captures conversation from different social media channels and brings them into a single customer view. CRM companies like Zoho and Salesforce have built their concepts around customer service very well and have gained high levels of user satisfaction, as shown in the following Data Quadrant. However, innovative solutions by start-ups like Kustomer may reshape the industry standard and customer expectations.

Source: SoftwareReviews, Published March 2019

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