ASAPP Raises Funds for AI Research-Driven Platform

ASAPP, an AI company focused on customer experience, has raised $185m in a Series B round of funding, which it will partly use to meet a 'massive increase' in demand for its platform seen in recent weeks.

New York-based ASAPP builds AI-based products which are used by call centers to help staff understand what to do and say in real-time during phone calls. Its models constantly learn from conversations, while for web chats the platform offers staff multiple potential responses. Resulting data from these interactions can be used to gain insight to inform business decisions, including spotting themes and trends.

The firm, which also has offices in Silicon Valley, Raleigh, London and Buenos Aires, has an AI research team composed of PhDs and specialists in the field to further advance disciplines such as natural language processing, machine learning and speech recognition, serving as the foundation for ASAPP products. This team also uses data science to uncover how the platform is used, how well it operates and improve efficiency.

Participation in the Series B round includes John Doerr, John Chambers, Dave Strohm and Joe Tucci, along with institutions Emergence Capital, March Capital Partners, Euclidean Capital, Telstra Ventures, HOF Capital and Vast Ventures. The investment brings ASAPP's total raised to date to $260m, and CEO and founder Gustavo Sapoznik (pictured) comments: 'We are thrilled... by this latest investment, which allows ASAPP to continue scaling and meeting the extraordinary demands large enterprises are facing as a result of the global pandemic'.

Web site: www.asapp.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.